Nvidia CEO Calls Tesla AI Leader

By Douglas A. McIntyre Updated Oct 14, 7:12AM EDT · Published Oct 13, 8:09AM EDT

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Nvidia CEO Calls Tesla AI Leader — © pestoverde / Flickr

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Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction) stock retreated after the unveiling of its new robotaxi.
Yet, Nvidia’s CEO remains a fan of the company.
Also: Dividend legends to hold forever.

Several investors turned their backs on Tesla Inc. (NASDAQ: TSLA) when they were concerned its new robocab and Robovan did not look like keys to a stronger future for the electric vehicle (EV) company. Neither offered a look at a new model. Tesla has not launched one in years. And it did not prove that it is the self-driving car leader. That would have put it on the cutting edge of the next crucial advance in human transportation.

The event Elon Musk hosted to showcase Tesla’s two future products was lackluster enough to take Tesla’s shares down 8% the following day. However, one of the most important figures in the technology world thinks Tesla is the leader in the field and will power the next generation of mass-market vehicles.

Recently, Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang said Tesla was the industry’s leader in providing self-driving cars that will evolve into those with autonomous driving capacity. He told Yahoo Finance that Tesla was “far ahead” of its rivals.

Many think of Huang as the leader of the AI industry. Nvidia chips are at the core of AI computing. It is estimated to have at least three-quarters of the AI chip market. Nvidia shares have been up 1,812% in the past two years. And its market cap is $3.3 trillion, which puts it second only to Apple’s $3.4 trillion.

Tesla investors get to make a decision. Do they listen to those who think its stock is overvalued or to the CEO of the world’s most important AI company?

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.