Tesla rose 6% on Monday after Morgan Stanley predicted its Dojo supercomputer may boost its market value by about $600 billion
Tesla, the world's most valuable manufacturer, began manufacturing of Dojo, a supercomputer to train AI models for self-driving cars
Dojo can create new markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts led by Adam Jonas wrote Sunday.
If Dojo can make cars'see' and'react,' what other markets could open? Consider any edge device with a camera that makes real-time visual judgements."
Tesla replaced Ferrari's U.S.-listed shares as "top pick" and was promoted to "overweight" from "equal-weight" by the Wall Street brokerage.
Morgan Stanley boosted its 12- to 18-month target on Tesla's shares by 60% to $400, the most among Wall Street brokerages, giving the EV producer a market valuation of $1.39 trillion
That's 76% greater than Tesla's $789 billion market value on Friday's $248.5 closing. The stock rose 5.7% to $262.70 Monday.