Elon Musk’s recent remarks about Nvidia indicate a promising outlook for the chipmaker. This comes as Tesla increases its focus on artificial intelligence and robotics.
Musk stated that Tesla plans to substantially boost capital expenditures in these areas. He emphasized the importance of AI hardware, acknowledging Nvidia’s role in enabling advanced AI systems.
As of early Tuesday, Tesla is building its own AI chips while also utilizing Nvidia’s chips for AI training. This dual approach reflects Tesla’s commitment to enhancing its technology stack.
In a significant announcement, Musk confirmed that the Cybercab robotaxi is officially in production. He expects production volumes to ramp up exponentially by the end of 2026.
Key statistics:
- Tesla delivered 1.79 million passenger EVs in 2024, marking a 1% decline from the previous year.
- The company’s stock currently trades at a P/E ratio of 341, significantly higher than the Nasdaq-100 technology index.
- Tesla has seen a 6% increase in EV deliveries in the first quarter of 2026.
- Revenue increased by 16% and earnings per share rose by 8% during the same period.
Experts note that Musk’s comments often influence public perception significantly. His focus on responsible innovation highlights concerns about the pace of AI development.
Nvidia has experienced rapid growth in its data center business, which contributes significantly to its revenue. This trend aligns with Musk’s bullish outlook, potentially benefiting both companies as they expand their technological capabilities.
