Stock market data from NASDAQ or financial news outlets

Elon Musk's Trump Ties Could Unlock $1 Trillion AI Opportunity for Tesla

Dec 2, 2024, 12:20 PM

Elon Musk's financial support for Donald Trump's presidential campaign has raised questions about his influence in Washington, D.C. Musk, who has significantly reduced Tesla's lobbying efforts in the capital, is seen as gaining unprecedented power through his relationship with Trump. Analysts suggest that this relationship could benefit Tesla, particularly in the realm of autonomous driving technology, with Wedbush Securities estimating that Tesla's AI and self-driving technology could be worth $1 trillion. Despite his growing influence, Musk has expressed disinterest in traditional lobbying, stating that any real or de facto offers of money, power, or threats will not work on him. Following Trump's victory, some speculate that Tesla's stock could reach $500-$600 as autonomy plays out.