Tesla, Elon Musk, electric cars, are all terms that most investors already familiarised themselves with. What might be less known is Tesla AI Day. Tesla AI Day is an annual event where Tesla showcases its artificial intelligence capabilities across different business segments, such as self-driving cars and energy storage, with the ultimate goal of recruiting the brightest minds and engineers. For investors, AI Day holds significant importance as it offers insights into Tesla's technological prowess, strategic direction, and potential for growth. The event highlights Tesla's commitment to pushing the boundaries of AI applications beyond electric vehicles, influencing investor confidence and decisions by showcasing the company's capacity to drive innovation and remain competitive in a rapidly evolving tech landscape.
<h2>When is Tesla AI Day 2023?</h2>
Tesla has not yet announced a date for Tesla AI Open Day 2023. However, based on the dates of previous AI Open Days, it is likely to be held in the second half of the year, sometime in September or October. The event is typically held at Tesla's headquarters in Palo Alto, California, and is live streamed to the public.
<nw:key_takeaway title="Keys Takeaways"><ul>
<li>Tesla’s humanoid robot Optimus could become an additional revenue, potentially impacting Tesla’s business model</li>
<li>Announcements on Project Dojo, D1 Chip, or Optimus’ positive developments would make a significantly impact Tesla’s stock price</li>
</ul>
</nw:key_takeaway>

<img src="https://thecms.wealthwatch.ai/uploads/04_0x0_Tesla_Bot_04_784c9019d0.jpg" alt="Close up of Tesla Bot Torso">
Tesla’s <a href="https://youtu.be/j0z4FweCy4M?t=2827">first AI Day</a> happened in August 2021, when the company made several announcements regarding the company's advancements in hardware, software, AI, robotics, computing, and self-driving cars. Some key highlights of the event included:
<ul>
<li>Tesla Bot: Elon Musk introduced a humanoid robot, Optimus, which is designed to be a highly capable and <a href="https://economictimes.indiatimes.com/tech/technology/musk-previews-teslas-humanoid-robot-but-cautions-it-is-not-ready-just-yet/articleshow/94576245.cms?from=mdr">affordable robot that could sell for less than $20,000</a>. The robot was described as a real-world application of the company's AI technology and could have various uses beyond self-driving cars. While Optimus is still in development, Tesla is optimistic about its potential and is already working on the next version.</li>
<li>Project Dojo: Tesla introduced Project Dojo as a powerful supercomputer platform designed for AI machine learning, with a focus on computer vision video processing and recognition. This project aims to efficiently process the vast amounts of data generated by Tesla's cars to improve its Full Self-Driving (FSD) advanced driver-assistance system.</li>
<li>D1 Chip: As part of Project Dojo, Tesla unveiled the D1 chip, a high-performance, specialized chip designed for artificial intelligence tasks. The D1 chip is a key component of the Dojo supercomputer, capable of delivering a power of 362 TFLOPs in BF16/CFP8.</li>
<li>Full Self-Driving (FSD) Beta: Tesla recently released the beta 9 version of its FSD software, which included a full suite of features. The release generated significant attention and showcased Tesla's progress in developing self-driving technology.</li>
<li>Recruitment: Throughout the event, Tesla emphasized the need for talented individuals to join its vision and AI team to help solve the challenges of autonomous driving. The company's goal was to attract top talent in the field of AI and robotics.</li>
</ul>

Though packed with new information that can reveal Tesla’s projection in the future, the event itself did not have any significant impact on Tesla’s stock price increase during the second half of the year. As such, the increase has more to do with the company’s strong financial results ($5.5 billion in net income), strong demand for Model 3 and Model Y, and investor optimism for the company with Tesla expanding to China and Europe. However, this does not mean AI Day will remain un-impactful, as we will take a look at Tesla’s next AI Day in 2022.

Tesla AI Day 2021

<img src="https://thecms.wealthwatch.ai/uploads/09_0x0_Dojo_03_bc9db67020.jpg" alt="Tesla Dojo Super Computer's Primarily Used for FSD">
Tesla’s <a href="https://youtu.be/ODSJsviD_SU?t=837">second AI Day</a> was launched in September 2022, with a similar aim to last year’s event of unveiling its latest advancements in hardware, software, AI, robotics, computing, and self-driving cars as well as recruiting the brightest minds in the field. Some key areas that were covered by Musk in the event are:
<ul>
<li>Humanoid Robot Optimus: Tesla unveiled its humanoid robot, Optimus, in real life. The robot was showcased walking on stage, demonstrating simple tasks such as walking, waving, and engaging in human-like interactions.</li>
<li>Updates on Self-Driving Software: Tesla provided updates on its self-driving software, showcasing the capabilities of its vehicles in recognizing and interacting with other cars.</li>
<li>Dojo Hardware: Tesla gave a first look at the Dojo hardware, which powers the company's AI research. The hardware cabinets, stacked with hundreds of chips, were demonstrated to show the potential of Dojo once it is fully operational.</li>
</ul>

Unlike last year, Tesla’s AI Day in 2022 plays a critical role in determining Tesla’s stock price. Though some investors were impressed by Tesla's progress in AI and robotics, particularly the unveiling of the humanoid robot Optimus, and seeing an optimistic future in them, a majority were left underwhelmed as there was a lack of specifics as well as serious malfunctions in Optimus. Specifically, investors and analysts pointed out <a href="https://arstechnica.com/information-technology/2022/09/tesla-shows-off-underwhelming-human-robot-prototype-at-ai-day-2022/">Optimus’ limitations</a> and the gap between the hype and the actual demonstration.
The robot's unsteady walking and eventual slumping over during the event raised concerns about its stability and functionality. Additionally, the lack of specific details about new products or services may have contributed to the stock's decline, as the event was described as long on vision and a review of prior achievements, but short on specifics about any new Tesla offerings. As a result, Tesla's stock price <a href="https://www.barrons.com/livecoverage/tesla-investor-day/card/tesla-stock-has-a-history-of-dropping-after-big-events-JHNgyd9eLAYAcHJRPzrx?mod=Searchresults">fell 8.6%</a> the day after its event.

Tesla AI Day 2022

tesla_bot_1d994783b5.webp

Tesla AI Open Day 2023: What Investors Should Know

<h2>What Should Investors Expect for Tesla AI Day 2023</h2>
With only 2 past events to take into consideration, it may not serve as a sufficient correlation for investors to base their decisions on. However, what’s most certain is that investors will have strong reactions to either Tesla's progress or the mistakes they choose to showcase on the next AI Day.
Tesla's AI Day is one of the most anticipated events in the tech industry, and investors are always eager to see what the company has up its sleeve. Tesla has a history of making ambitious announcements at its AI Days, and investors will be watching closely to see if the company can deliver on its promises. After all, the announcements made on Tesla AI Day hold significant value as they can reveal Tesla’s projection of the future. Here are a few takeaways that investors should note:
<ul>
<li>Tesla Bot: Improvements on Optimus would be highly anticipated and would significantly raise investor optimism on Tesla stock. While not directly related to the company's core business, Tesla’s humanoid robot has a huge potential to become an additional revenue stream for the company. This can be seen as a long-term investment in diversifying Tesla's product portfolio and expanding its reach in various industries.</li>
<li>Project Dojo, D1 Chip, and FSD Beta: Improvements on Project Dojo and the development of Tesla’s D1 Chip, or better yet, announcements on the official operation of Dojo and the Chip would see Tesla’s stock price skyrocket, as it means the tech giant is closer than ever to develop self-driving cars.</li>
</ul>
Overall, Tesla AI Day definitely has its weight on impacting the company’s stock price, but it’s also important for investors to take a holistic approach and not neglect other important factors such as financial performance, the overall market sentiment, and last but not least, Elon and his plans. Other than that, Tesla AI Day 2023 is likely to be a volatile event for investors. Investors will be watching closely to see if Tesla can deliver on its promises and make significant progress in its AI development.

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