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### Cathie Wood Envisions Tesla as the ‘Ultimate AI Endeavor,’ Predicts Triad of Technologies Propelling Stock to $2,000

Ark Invest most recently bought a total of 234,998 shares of Tesla across three of its exchange-tra…

Ark Invest’s prominent figure, Cathie Wood, has been actively acquiring Tesla Inc (TSLA) shares amidst recent market fluctuations, anticipating a surge towards $2,000 per share in the foreseeable future driven by the convergence of three pivotal technologies.

Ark Invest’s strategic move to purchase Tesla stock coincides with challenges faced by the broader electric vehicle (EV) sector regarding demand uncertainties. Notably, the firm procured a substantial 234,998 shares of Tesla across three of its exchange-traded funds during a recent market dip triggered by lackluster delivery figures in the first quarter.

Tesla attributed the delivery decline to initial production challenges of the updated Model 3 and temporary factory closures. Wood highlighted economic pressures impacting consumer behavior, emphasizing discrepancies between official statistics and real-world corporate performance.

Moreover, Tesla’s proactive pricing adjustments aim to enhance short-term affordability, with a broader industry trend towards increased EV accessibility over the next few years. Wood envisions a significant cost reduction in electric vehicles, driven by Tesla’s innovative manufacturing methods and integration of artificial intelligence (AI) technologies.

As the second-largest holding in the ARK Innovation ETF (ARKK), Tesla constitutes a substantial 9.16% weighting, following Coinbase. Despite previously selling Tesla shares in the \(350 to \)400 range, Wood advocates against hasty decisions amid a substantial stock pullback, particularly for investors confident in Tesla’s autonomous driving prospects.

Wood’s bullish stance on Tesla’s robotaxi potential underscores the inevitability of its market dominance, supported by recent advancements in Full Self-Driving technology that mirror human driving capabilities.

Tesla’s significance lies in its fusion of robotics, energy storage, and AI, positioning it as a groundbreaking AI initiative globally. Wood anticipates a significant shift towards electric vehicles, projecting that 75% to 85% of new vehicle sales will be electric within five years, propelling Tesla shares to $2,000.

Despite a 32% decline in Tesla’s stock value year-to-date, the shares saw a marginal uptick of 0.68% to $167.77 on Wednesday afternoon, as reported by Benzinga Pro.


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