Nvidia Emails Reveal Musk's GPU Shuffle: What's At Stake For Tesla's AI, Robotics Future
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 04 2024
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Source: Benzinga
- Elon Musk Redirects GPUs: Elon Musk redirected 12,000 Nvidia H100 GPUs from Tesla to his social media company X, delaying Tesla's supercomputer development.
- Impact on Tesla: The decision could hinder Tesla's progress in developing autonomous vehicles and robotics, potentially delaying long-term initiatives.
- Conflicts of Interest: Musk's prioritization of X over Tesla for GPU allocation raises concerns about potential conflicts of interest due to his involvement in multiple ventures.
- Analysts' View on Tesla: Analysts remain optimistic about Tesla's future, betting on its FSD software despite challenges like slower growth and competition in China.
- Stock Performance: Tesla stock lost 20% in the last year, with investors being able to access it through ARK Innovation ETF ARKK and Tidal ETF Trust II The Meet Kevin Pricing Power ETF PP.
Analyst Views on ARKK
Wall Street analysts forecast ARKK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ARKK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 80.290
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
