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Tesla rises 2% as Morgan Stanley backs AI, robotics efforts with 'top pick' status

Tesla shares rose 2% on Monday after Morgan Stanley reinstated the electric-vehicle maker as its top U.S. auto pick, saying the company's artificial intelligence and robotics efforts could power growth even as the mainstay car business stumbles.
The article from Reuters discusses Tesla Inc.'s stock rising by 2% after Morgan Stanley upgraded its rating to "top pick" due to Tesla's advancements in artificial intelligence (AI) and robotics. Morgan Stanley analyst Adam Jonas highlighted Tesla's potential in AI, particularly with its Dojo supercomputer, which is expected to enhance the company's autonomous driving technology and potentially expand into new markets like robotaxis and software services. Jonas also noted that Tesla's focus on AI could lead to significant growth in its market value, projecting a potential increase to $1.7 trillion by 2040 if these technologies are successfully commercialized. This optimism comes despite concerns about Tesla's current valuation and the competitive landscape in the electric vehicle market.

Read the Full Reuters Article at:
https://www.reuters.com/business/autos-transportation/tesla-rises-2-morgan-stanley-backs-ai-robotics-efforts-with-top-pick-status-2025-03-03/