Ark Invest sees Tesla's AI potential, projecting a $2,600 share price by 2029.

Cathie Wood's Ark Invest identifies Tesla as a major AI opportunity, projecting a price target of $2,600 per share by 2029—implying a 990% increase—due to the potential of its self-driving technology and a robotaxi platform expected to generate $1.2 trillion in revenue. However, Tesla's shrinking EV sales, declining profit margins, and increasing competition pose significant challenges to achieving these ambitious goals.

September 22, 2024
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