Reported 7 months ago
During Tesla's annual shareholder meeting in Austin, Texas, on June 13, CEO Elon Musk made ambitious remarks, stating that the humanoid robot Optimus would propel Tesla's market value to $25 trillion, over half the current combined market value of S&P 500 companies and 8 times that of the leading US market capitalization behemoth, Apple. Musk expressed optimism about the future of Tesla, highlighting Optimus as a catalyst for this surge and promising limited production by 2025, anticipating over 1,000 or even thousands of Optimus robots working at Tesla. Despite Musk's past grand projections that have not been realized, he boasted about Tesla's chip development technology surpassing AI chip leader Nvidia. Tesla's market value closed at $580 billion on the 13th, ranking as the 10th largest component of the S&P 500 index, while the combined market value of S&P 500 companies currently stands at $45.5 trillion. Achieving a $25 trillion market value would position Tesla above half of the S&P 500 companies and 8 times Apple's $3 trillion market capitalization. Musk did not specify a timeline for achieving the $25 trillion market value but suggested that self-driving cars could boost Tesla's value to $5 to $7 trillion. Despite a 27% decline in Tesla's stock price this year due to decreased electric vehicle sales and intensified competition in China, Musk urged investors to focus on the future of self-driving cars, robots, and AI.
Source: YAHOO