AI future at Tesla worth $1 trillion to valuation alone, says Wedbush

Wedbush analyst Daniel Ives says that “the golden era of autonomous” for Tesla (TSLA) officially kicks off on Sunday in Austin as the special invites went out giving selected Tesla users permission to use the Model Y Robotaxi service starting on Sunday. While the Austin launch will start off small with roughly 20 Model Y vehicles in this “geofence” service around Austin this service should steadily ramp throughout the summer in Austin and it’s Wedbush’s view Tesla will launch and scale its robotaxi service to roughly 25 cities in the U.S. over the next year. The firm views this autonomous chapter as one of the most important for Musk and Tesla in its history as a company as it believes the AI future at Tesla is worth $1 trillion to the valuation alone over the next few years. The firm maintains an Outperform rating on the shares with a price target of $500.