EXCLUSIVE: Cathie Wood Credits AI For Tesla FSD Losing Its Training Wheels
Portfolio Pulse from AJ Fabino
In an interview with Benzinga CEO Jason Raznick, Ark Invest founder Cathie Wood discussed the future of Tesla's Full Self-Driving (FSD) program. She highlighted the role of AI in the development of FSD and noted that Tesla's safety metrics indicate that driving a Tesla with FSD is six times safer than the average car. Wood also compared Tesla to Cruise Automation, a driverless Uber competitor acquired by General Motors.
September 02, 2023 | 3:25 pm
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NEUTRAL IMPACT
Cathie Wood compared Tesla's progress in self-driving technology to that of Cruise Automation, which was acquired by General Motors.
While the comparison to Cruise Automation is not necessarily negative for GM, it does not provide any new information that would likely impact the company's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Cathie Wood mentioned Uber in the context of discussing Tesla's potential network effect with its rumored taxi system.
The mention of Uber is more about Tesla's potential than about Uber itself, so it's unlikely to have a significant impact on Uber's stock in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Ark Invest founder Cathie Wood's positive comments on Tesla's FSD program could boost investor confidence in the company.
Cathie Wood's comments highlight the progress Tesla has made in its FSD program, which could be a key driver of future growth for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100