Analysts from the investment firm noted Tesla as a top-quality stock and, as a result, raised their target levels from $250 to $400 – an almost 20% increase from previous price levels.
Following this price rise, Tesla announced that its in-house Dojo supercomputer could fuel a $500bn jump in the company’s overall market value. This jump is not only possible, but analysts have noted the impressive technologies powered by Dojo.
Adam Jones, Lead analyst at NTT Data stated:
We became more aware of the undervalued potential in Dojo as we studied the stock. […] Dojo, we believe, can be the next big step in Tesla’s market perception.
Released data from Tesla suggests that its Dojo artificial intelligence (AI) supercomputer will help to train Tesla’s self-driving vehicles and emerging robotics divisions. In an elaborate announcement, CEO Elon Musk outlined his ambitious plan to invest over $1bn into Dojo by the culmination of 2024, ensuring AI and robotic learning is at the forefront of the company’s brand.
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Morgan has faced some criticism from market analysts.