Tesla Bull Gary Black Says Competition From Figure-OpenAI's Humanoid Robot Is Another Reason 'It's Difficult To Add A Value For Optimus'
Benzinga
Published Mar 15, 2024 11:47
Updated Mar 15, 2024 13:10
Tesla Bull Gary Black Says Competition From Figure-OpenAI's Humanoid Robot Is Another Reason 'It's Difficult To Add A Value For Optimus'
Benzinga - by Rounak Jain, Benzinga Staff Writer.
Future Fund manager Gary Black has underlined how difficult it is to accurately ascertain the value that Tesla Inc.'s (NASDAQ:TSLA) Optimus humanoid robot project brings to the table.
What Happened: Black reposted a two-minute-long video demonstration of Figure AI's humanoid robot, powered by Microsoft Corp.-backed (NASDAQ:MSFT) OpenAI's large language models.
The Tesla bull referred to the increasing competition, adding that this makes it difficult to project what value needs to be attached to Tesla's Optimus project.
"Why it's difficult to add a value for Optimus to $TSLA valuation."
Why It Matters: Black’s comments come in the wake of Tesla’s ongoing efforts to develop Optimus, its own bi-pedal, humanoid robot. Tesla CEO Elon Musk has previously expressed optimism that robots will one day build other robots.
In a recent development, Musk welcomed competition from OpenAI, Microsoft, and Jeff Bezos, who invested $675 million in Figure AI, which is working on building an autonomous humanoid robot.
Optimus is Tesla’s own humanoid robot. The company equipped it with better hands in December, allowing it to grab delicate objects like an egg without crushing them.
Although Musk thinks robots will one day build other robots and Tesla cars, among other things, Optimus still cannot find a missing sock, and it has been in development for two years now.
Price Action: Tesla's stock closed at $164.30 on Thursday, up 1.11%, according to Benzinga Pro.
Check out more of Benzinga's Consumer Tech coverage by following this link.
Read Next: Is OpenAI’s Viral AI Video Generator Sora Trained On YouTube And Instagram? CTO Mira Murati Is ‘Not Sure’
Photo courtesy: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
Get The App
Written By: Benzinga
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.