Tesla Stock Hits Record High as Investors Bet on AI Future
Tesla shares closed at an all-time high of $489.88 on Tuesday, marking a 21% year-to-date gain despite earlier volatility. The rally reflects growing investor confidence in CEO Elon Musk's vision of Tesla as an AI and robotics leader rather than just an automaker.
Key catalysts include the rollout of Tesla's robotaxi service and progress in autonomous driving technology. Musk recently confirmed testing of unoccupied self-driving vehicles in Austin, Texas - a critical step toward establishing a ride-hailing network of autonomous cars.
The market appears to be looking past declining EV sales, focusing instead on Tesla's potential to pioneer physical AI applications. This strategic shift comes after a turbulent start to the year that saw shares fluctuate amid changing political dynamics.
