Musk redefines Tesla: from car manufacturer to AI leader

Elon Musk surprised investors during the company's 1st quarter 2024 earnings call Tesla, emphasizing the company's change to artificial intelligence (AI) and robotics. He declared that the Tesla should no longer be seen primarily as a car manufacturer, but rather as an AI or robotics company.

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• Musk believes that Optimus, the company's autonomous humanoid robot, Tesla, will be “more valuable than everything else [in the company] combined.”
• He predicts that Optimus will perform “useful tasks” within the company’s factories. Tesla by the end of 2024 and will be available for external purchase by the end of 2025.
• A new graphic from the company featured Optimus at the forefront of the company's ecosystem. Tesla, suggesting that robots will contribute the “majority” of the company’s long-term value.
• Despite not having met revenue expectations, the company's share price Tesla soared after the conference call, reflecting investors' enthusiasm for the AI ​​vision.

Why does it matter

While many associate the Tesla to electric cars, Musk's focus on AI and robotics reveals a broader vision. His confident predictions about Optimus highlight the company's new direction, with this "conscious" humanoid robot positioned at the center of Musk's futuristic plans. This change represents a significant transformation in the way Tesla is seen and can reshape the company's future.

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