Tesla's (TSLA, Financial) stock experienced a significant increase, closing at $349, up 8.23%. This surge follows the debut of Tesla's autonomous taxi service, Robotaxi, which has fueled investor enthusiasm. CEO Elon Musk, who owns approximately 13% of Tesla, saw his net worth rise by $14.9 billion to $423.9 billion, further widening his lead over Larry Ellison, the second-richest individual.
The Robotaxi service was officially launched in Austin, Texas, marking a major milestone for Tesla. Initially, only about 10 vehicles were deployed for select social media influencers, with limited operational range. Despite its modest launch, initial feedback has been positive, alleviating concerns of further delays.
Dan Ives, a Wedbush Securities analyst and known Tesla bull, described his experience with Robotaxi as "impressive," noting the comfort and safety of the ride. He emphasized that Tesla is embarking on a "trillion-dollar autonomous journey," with the Robotaxi launch signaling the beginning of its AI-driven future.
Analysts, including Andres Sheppard from Cantor Fitzgerald, anticipate a more formal rollout of the service soon. They view Tesla's strategy as a high-margin, software-as-a-service model poised for rapid expansion post-commercialization.
