Deutsche Bank Maintains ‘Buy’ Rating on Tesla After Seeing AI Day

Tesla revealed a number of new technology updates last week during its AI Day event, and the updates have boosted the company’s general outlook from one investing firm.

Deutsche Bank analyst Emmanuel Rosner maintained a Buy rating on Tesla (TSLA), following Tesla’s AI Day announcements last week (via @Sawyer Merritt). A note written by Rosner on Monday says that the firm “came away with greater appreciation for Tesla’s efforts in AI.”

In the note, Rosner wrote, “We found several breakthroughs to be particularly impressive. First, Tesla is predicting in 3D vector space rather than image space projections (2D).”

Further down in the note, referring to the announcement of the Tesla bot, Rosner writes, “This opportunity is a much longer term endeavor but demonstrates the potential for Tesla’s AI capabilities (and batteries) to be used beyond the automotive market.”

NEWS: Deutsche Bank analyst Emmanuel Rosner reiterated a “Buy” rating on $TSLA following ambitious plans outlined during Tesla’s AI day last week. DB “came away with greater appreciation for Tesla’s efforts in AI”; We found several breakthroughs to be particularly impressive.” pic.twitter.com/FYJRfoBzkQ

— Sawyer Merritt (@SawyerMerritt) August 23, 2021

Following the Thursday AI Day event, Tesla’s shares jumped from $673.47 to $687.67 on Friday’s open and their price has steadily increased since.

During the event, Tesla also unveiled the D1 chip which it called the world’s fastest AI training computer – offering major implications for the future of the growing field of AI development. The company also announced plans to build a ‘Tesla Bot’ humanoid robot prototype by next year.

At the time of writing, Tesla’s shares were selling at $707.92 (+$27.86) up 4.10 percent from Friday’s close.