REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla's (TSLA.O) supercomputer, Dojo, to train AI models for autonomous cars could give the electric vehicle maker an "asymmetric advantage" and boost its market capitalization by nearly $600 billion, or 76%, Morgan Stanley estimated.
Tesla started production of Dojo in July and plans to spend more than $1 billion through next year.
Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts, led by Adam Jonas, said in a note published on Sunday.
The Wall Street brokerage upgraded its recommendation on Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares .
That compares with its current market value of about $789 billion, after the stock closed at $248.5 on Friday.
Persons:
Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Savio D'Souza
Organizations:
REUTERS, Dojo, Ferrari's U.S, Thomson
Locations:
London, Britain, Bengaluru