Business Insider says giants like Tesla will determine the future of artificial intelligence (AI). Investors are now putting money into the leading manufacturer of electronic vehicles (EV), betting that the firm will cement its position in the AI sector.
According to experts, investors are spending money on Tesla stock as part of a broader bet on the future of AI. This year, they have increased investments in Tesla. Thus, the 10-day moving average of retail flows into the giant’s stock far outpaced retail flows into other EV stocks. In addition, flows into AI stock have surged as well.
Analysts attribute a rally in Tesla in 2023 to the excitement for artificial intelligence technology. They argue that retail investors see the Telsa brand as an AI proxy and not just as an EV producer.
Institutional investors have also expressed interest in Tesla stock. Despite Elon Musk’s statements about the dangers of AI, the appetite for this technology is rising. Earlier, the businessman hinted that his company could incorporate AI amid the hype for ChatGPT.
