Elon Musk’s reliance on Tesla (NASDAQ:TSLA) has become more pronounced than ever, emphasized Morgan Stanley analysts in a note published Monday.
As the demand for capital and data in the realm of artificial intelligence (AI) continues to surge, Tesla’s significance within the broader network of companies and ventures led by Elon Musk, often dubbed the ‘Muskonomy,’ grows correspondingly.
According to Morgan Stanley, the conglomerate of Elon Musk’s enterprises may collectively funnel tens of billions of dollars into AI infrastructure in the foreseeable future, underscoring the indispensable role played by the electric vehicle (EV) titan in this interconnected ecosystem.
“Cost of capital is deterministic for AI supremacy,” highlighted the analysts.
They posit that Tesla’s triumphs would be instrumental in reducing the cost of capital across the Muskonomy. Conversely, should the company stumble, it would elevate the cost of capital for Musk’s interlinked business empire.
“Beyond the cost of capital, we believe on a fundamental level that the data, infrastructure built and path to monetization within Tesla is critical to Musk’s seemingly ‘adjacent’ AI efforts,” the analysts elaborated.
Data gleaned from Tesla vehicles, both internally and externally, significantly enhance AI training and development, observed Morgan Stanley.
The automotive total addressable market (TAM), often termed the “internet of cars,” ranks among the world’s largest, spanning 12 trillion miles and hundreds of billions of vehicle hours.
The car’s distinctive features, including mobile servers, computational prowess, thermal management, and energy storage, are deemed indispensable in the burgeoning AI-driven hybrid compute ecosystem, analysts explained.
These attributes hold broad implications for the entire automotive industry, not solely for Tesla, they added.
Meanwhile, the demarcation between devices like smartphones, robots, and mobile AI assistants is increasingly blurring, noted the Wall Street giant.
“Over time, we expect to see Mr. Musk’s efforts within social media/gen-AI, space/communications, automotive/transportation become more conspicuously linked,” the firm remarked.
Next month, Tesla will convene its Annual Shareholder Meeting, an event that analysts believe investors should scrutinize closely.
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