Elon Musk’s electric vehicle (EV) maker, Tesla (NASDAQ: TSLA) has been having a rough year so far as even substantial price cuts it implemented in various markets failed to alleviate it having the worst quarter since 2022 in terms of deliveries.
This decline – and the crisis in the EV industry as a whole – has so far been well-reflected in the stock market as TSLA has proven to be the worst performer in the Nasdaq 100 in 2024 and is down more than 30% year-to-date (YTD).
Finally, late on April 5, Elon Musk gave Tesla stock a significant extended session boost as he announced his firm would unveil a ‘Robotaxi’ on August 8.
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By the pre-market on Monday, April 8, the effect of the X post was more than evident despite details being scant – there is no clear indication of what exactly a ‘Robotaxi’ would entail, if it would be unveiled on August 8, 2024, and there is cause for doubt given Musk’s history with promises pertaining to full-self driving.
Indeed, after closing 3.36% in the red on Friday, April 5, at $164.97, TSLA rallied 3.37% in the extended session and Tesla stock price today, at press time, stands at $170.46.
Still, assuming it will indeed come in a few months, and constitute some type of advancement in self-driving, Finbold decided to consult ChatGPT – the flagship artificial intelligence (AI) platform of OpenAI – on where a ‘Robotaxi’ might send TSLA shares in August.
ChatGPT sets Tesla stock price for August
When asked about the possible effect a ‘Robotaxi’ could have on Tesla stock price, ChatGPT decided to formulate three possible scenarios.
The first, the AI posited, would entail the ‘Robotaxi’ constituting a major advancement toward full self-driving, though probably only reaching level 4 and representing a partial advancement toward level 5 – complete autonomy of the vehicle.
Under this assumption, ChatGPT concluded that TSLA shares might rise to between $196.65 and $213.75. This would represent a 20-25% upside from the press time price and the AI considers such an outcome as the most likely.
ChatGPT’s most bullish scenario would entail the ‘Robotaxi’ representing true level 5 autonomy – a vehicle that needs no human driver input no matter the circumstances – and would see Tesla stock surge to between $222.30 and $256.50.
Finally, the AI also considers it possible that the ‘Robotaxi’ might prove a marketing gimmick and demonstrate no real progress toward real self-driving. Under such circumstances. investors might ignore it or lose some confidence leading to a drop to $136.80.
ChatGPT also explained that the bearish scenario also aligns with the possibility that, in accord with Musk’s 10-year-long tradition of not delivering on self-driving promises.
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