Tesla, Inc. (NASDAQ:TSLA) bull and Wedbush tech analyst Dan Ives expects the EV maker to increase its valuation from $2 trillion to $3 trillion over the course of 2026.
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Advancements in AI and autonomous vehicles will make an “historical 2026,” Ives told CNBC on Thursday.
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Ives recently raised his price target for Tesla shares from $500 to a “conservative” $600. The Elon Musk-led company is one of the "best AI plays over the next few years,” he adds.
Ives’ analysis focuses on Tesla's expanding robotaxi network--expected in 35 cities next year--accelerated development of autonomous features, and the commercialization of robotics.
The AI and autonomous vehicle market, together, presents at least a $1 trillion opportunity for Tesla in the near term, he says. Additional upside will come from its robotics roadmap--most notably the Optimus humanoid robots.
A favorable regulatory environment under the Trump administration helps, too. He expects the U.S. to expedite approvals for autonomous vehicles and robotics to maintain an edge in the global AI race.
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