In five days, Tesla’s share price has lost some 10% in value – including the slight rise in prices on Tuesday, October 4, 2022. On Saturday, October 1, the manufacturer nevertheless held AI Day 2022, an event that will have been able to serve as a showcase for the group’s latest advances likely to be tomorrow’s growth engines.
However, what observers have mainly retained is that Elon Musk is ready to upset the priorities of the group to bet everything on an obscure project, which seems, at this stage, very far from commercialization. Despite the permanent optimism (no pun intended) of the entrepreneur. Optimus has indeed yet to demonstrate its usefulness while the most advanced prototype unveiled by the firm could barely walk on its own and wave to the crowd.
Tesla shareholders don’t seem convinced by Optimus
Therefore, neither its indicative price (Elon Musk promises that the final Optimus will cost less than $20,000) nor its promised features (pending demo) have really reassured shareholders. Especially since everyone expects Tesla to make progress on Fully Autonomous Driving. It is a question of finally delivering to its customers a stable system and getting out of the current beta phase.
But as the Optimus robot was falling behind schedule as AI Day approached and Elon Musk finally wanted to show something other than an actor dancing in a suit, self-driving teams were asked to help develop the robot faster. Result: the robot that Tesla investors were obviously only waiting for as “the icing on the cake” is well on stage.
But no announcement has been made on the arrival of the stable version of the Fully Autonomous Driving software yet promised by the entrepreneur “by the end of the year”… like every year since almost 2015.
A problem, because traffic rules are changing in several regions of the world, including Europe, which suddenly creates a market to be conquered as quickly as possible – and the competition, in particular BMW, is also beginning to deliver systems. particularly convincing autonomous driving.
As a result, it is not surprising that many shareholders panicked a little after AI Day 2022. This was enough to cause Tesla share prices to fall quite sharply, even though over the same period the Nasdaq – an index which lists the main American tech benchmarks – saw its price rise by two points.
When asked if all this is reasonable, Elon Musk responds, quoted by our colleagues from Electrek that “only a handful of people understand the true value of Tesla Bots.” And that the project could increase the productivity of mankind “by an order of magnitude”. So we can’t wait for the robot to work…