Tesla Nears Record Valuation as Robotaxi Progress Fuels Stock Surge
Tesla's market capitalization approaches $1.5 trillion following a 4% pre-market surge, with shares hovering NEAR the all-time high of $488.54. The rally coincides with viral footage of autonomous vehicle tests in Austin and upward revisions from analysts.
Key developments in the Robotaxi program sparked investor enthusiasm. A recently circulated video depicts a driverless Tesla navigating Austin streets—a core testing site for the initiative. Ashok Elluswamy, head of Tesla's autonomy division, amplified the momentum with a cryptic "And so it begins!" post that traders interpreted as signaling accelerated deployment.
Elon Musk confirmed expanded testing of unoccupied vehicles, reiterating timelines for unsupervised public road trials within weeks. Wedbush analyst Dan Ives noted the autonomous driving roadmap is "finally coming together," with fleet expansion planned for Phoenix and Nevada in December.
