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I view Tesla as an AI company and if there is a bubble around AI that could possibly affect Tesla as well but then Ives says this is not an AI bubble this is a gold rush and this is going to continue he sees Tesla as a tech company and he thinks that Tesla will benefit from this AI wave currently he is one of the top Wall Street analysts so I'm interested in what he has to say let's take a look so before we talk about AI Dan I just want to talk about tech strength overall because we chatted at the beginning of the year you said tech stocks are poised against gained 20 this year it's only May the end of May but what nasdaq's up 24 and how much more room is there to run I mean we still think Tech has 10 to 15 upside and count like when when we talked earlier this year's obviously doesn't mean you have talked throughout the year I think there's a few things that are happening I mean fundamentals are holding up much better than figured you're then you're also seeing guidance that got caught you saw the Cost Cuts coming in and I think tax been a safety sector and then the cherry on top of the Sunday is what I view is probably the most transformational tech theme I've seen in my career going back to late 90s the AI Revolution I think very slowly we will see investors understanding that Tesla is actually an AI company it will start very slow and then the moment it is going to be apparent that Tesla is going to solve Forza driving of course that change in sentiment is going to be very quick check what this dude had to say I had a hard time with Tesla being an AI company sounded like BS but two follows completely changed my mind James Dahmer who I recommend that you follow if you haven't yet and then Hallmark's catalog with his full self driving videos in San Francisco but I do have to say in San Francisco full self driving overall works better that also includes awesome because there are most Engineers they are in San Francisco and in Austin I mean the ones that work for Tesla in Vancouver it works but it's not as good as what you see in these videos and James dhamma is saying that Tesla has a real chance of becoming the AI company especially if Tesla makes the dojo supercomputer work although Elon did say it is a long shot but looking back at elon's track record you know taking Rockets to space that can be reused over and over and over again creating an EV company in the early 2000s and then actually making it successful these also sound like long shot opportunities and you think AI conservatively is an 800 billion dollar market opportunity could be trillions so for those people who are worried that this is starting to look like a bubble is it really just beginning Dan yeah I mean look for NVIDIA just a frame reference for NVIDIA to guide up 60 for a quarter for a large cap like that I never even saw that in the bubble going back to early 90s so we're talking historic what that means that's not just for NVIDIA that remember from a derivative perspective for the hyperscale players from Microsoft to Google what that means for the consumer players meta apple and then you just go throughout you see what happened Marvel chip sector look at software names like salesforce.com palantir and others my view this is a gold rush but not a bubble and I think you saw that this week that was the difference someone may say to that hey look if you didn't see this happening even in a bubble then maybe that's because we are in an even bigger bubble this time but for Tesla stock I don't think it matters that much because many people most investors really they don't think of Tesla as an AI company and if you look at Tesla's history we had periods where the star basically does nothing for a few years still goes up and down quite a bit if you just look at it short term but when you look at Tesla's history I mean you have moments where it breaks out so much that these previous movements seem completely irrelevant and this was another consolidation period where the stock didn't really do anything for about five years and then finally then it looks like things are going better they actually get quite a bit of wars and then they actually get quite a bit better and the stock explodes and right now I think they are just going through one of these consolidation periods the moment it becomes apparent that Tesla is actually also an AI company mostly then I think we will exit this consolidation period so you mentioned a few other names I think the big question is are there any out there that are a little bit more undervalued that you're not getting in at over a hundred percent already upside and really what separates the winners from the losers in this space yeah I think you have to think about right here like okay the the no-brainer relative to the ones that are going to benefit okay it's Microsoft Nvidia Google nothing Marvel obviously AMD and some others and then when you start to look on the software side you gotta look second third derivatives that's where there's names like I think salesforce.com it's not being baked in I look at names like c3ai I still think obviously a controversial name that that's continuing to benefit names like sound how palantir which you know I view is kind of a core AI play and if you read the notes which were just displayed Dan also believes that Tesla will hugely benefit from this AI wave eventually as well this is just starting you know in my opinion in terms of where this is all going and I think that the difference was this week I think within the video it was game on because anyone that was skeptical it's no different than being skeptical of Tom Brady coming out of Michigan 2000 draft sixth round from AI and talk about EVS because Tesla a big winner today shares up about six percent taking over the Toyota Corolla as the number one best-selling car announced a surprise partnership with Ford seems like I've heard that Tesla drivers aren't necessarily happy that they're going to have to share those superchargers but investors clearly happy as shares up more than six percent is that partnership a game changer for Ford of course that is a huge win for Tesla I think it is even to a certain extent because think about this Tesla's Ebu marketer in the US is well over 50 so before if you're not even considering buying an EV but now let's say you are loyal to Ford and four comes out with nav and you look out for it and you look at that AV and of course you want to negotiate the price down so you compare it to a Tesla and then you go like oh even though I'm loyal to Ford let me buy a Tesla instead because more than half of people that buy EVS in the US may end up buying Tesla so having more EVS overall in the US benefits Tesla directly actually look I think it sounds bizarre right like if I told you 24 hours ago that thoroughly and musk we're gonna do a Twitter spaces you you would have thought that uh you know I was uh going crazy I think the reality is is that wooden Farley recognize they need the supercharger Network which Tesla has and I think Tesla recognizes they need Ford to be successful they actually need GM to be successful in terms of what's happened with you know really the sort of EV arms race that's playing out it's not a zero-sum game I don't really see why tassel needs Ford and GM to be successful of course it helps with Tesla's mission to accelerate the transition to sustainable energy that I see but financially how does that really benefit Tesla I mean we can make a few arguments that of course if they all use Tesla's Chargers that will bring more money to Tesla's superchargers although if we also assume that Tesla is going to be supplying some parts to Ford's EVs and gmcvs then yes that is also probably a huge win for Tesla because if Tesla all of a sudden starts selling let's say batteries eventually that might be a part of business that we would not have seen coming from Tesla but I think licensing full self driving to these other companies is going to be the most obvious benefit to Tesla in the long run but I certainly wouldn't say that Tesla needs these other companies to be successful as well unless we are really worried about the government interfering because Tesla supposedly has a monopoly on EVs and I say supposedly has because these other automakers for example stalantis is not even attempting to try to really make EVS yet so if they actually really really really try and they can't make it work at all then yeah that would be a monopoly then but that doesn't mean that something would have to happen because for example Google has a monopoly Facebook has a monopoly all of these other companies they have monopolies and I think in some ways they both need each other and this is a smart poker move by Farley and for musk it's just going to further monetize supercharger Network in terms of Tesla and I think that's that's it Karen that's the argument here is that you take this out further okay could eventually Ford start using Tesla batteries in other words like where can this all go from modernization perspective I think that's really the you know what I've used the potential Game Changer relative to the broader view not just Ford but where Tesla since foundationally within EVS in the U.S well if Tesla ends up providing batteries to other automakers such as Ford and maybe even GM eventually that is going to be probably I think quite a long time from now because Tesla needs a lot of batteries for Tesla's Vehicles the Texas main model wise not all of them actually have the new 4680 batteries I assume that's because Tesla is not making enough 4680 batteries yet so while eventually it could happen certainly I don't think that's going to be happening anytime soon I'm still not exactly sure what Dan meant when he said Tesla needs Ford and GM to be successful all right so you just got back from visiting the Tesla gigafactory in Nevada you've maintained your outperform rating on shares and 215 dollar price Target so assuming that visit went well want to know about the biggest takeaway and what gets Tesla share is another almost twenty dollars higher from here the biggest takeaway I think the Battery Technology I think the Innovation and just the production that we're seeing there is just years from where it was you know I think even when you go back six to nine months ago I mean I think they've been able to stream on so many processes that's really going to enable them to reduce battery costs and that that's the Golden Goose can they reduce battery across 30 50 they can over the coming years they could actually have sub 30 000 hour cars and make money and that's where Tesla is at A major advantage relative to other you know EV players now just starting to scale no doubt there's a price war going on sentiment you know continues to still be a battle between bulls and bears but the top of the mountain is where Tesla sits relative to battery production oh okay maybe this is where all of this battery talk is coming from maybe Dan saw something that you wouldn't really see normally inside the tour and maybe he has this thesis now that Tesla is going to be selling batteries to other automakers because the batteries are going to be so good I still don't think that's happening anytime soon although if it does that means Tesla will have an oversupply of batteries which would be great for Tesla because that would mean we could transition all of the production to structural battery packs very quickly with the new 4680 batteries which would then increase profit margins or reduce the cost of vehicles which would then mean we can sell these vehicles for a lower price and perhaps at the same time actually make more money and then Tesla's margins go up or the total amount of money made goes up what else goes up Tesla stock goes up as well my name is Mappo which is Tesla is an AI company and don't be surprised when Tesla Skyrock is when everyone else realizes that
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