Tesla Inc (NASDAQ:TSLA) stock hit a new record high of $493.83 today, helped in part by headlines surrounding a major competitor. Alphabet's (GOOGL) self-driving unit, Waymo, saw several vehicles stall during San Francisco's power outage, causing traffic disruptions but luckily no injuries. Tesla CEO Elon Musk addressed the incident on X, posting video footage and stating that "Tesla Robotaxis were unaffected by the SF power outage."Looking back, Tesla stock has tended to outperform in December, historicall ...

Tesla CEO Elon Musk took a swipe at Waymo after its self-driving cars stopped moving at intersections in San Francisco, causing traffic jams during a widespread blackout over the weekend. Waymo temporarily suspended its autonomous ride-hailing service in the San Francisco Bay Area on Saturday after a massive power outage knocked out electricity to about 130,000 homes and businesses. Video was shared online of Waymo self-driving cars appearing to be stalled at intersections, triggering traffic jams across af ...

When a power outage hit San Francisco on Saturday, local drivers had to navigate more than just darkened roads and inactive stoplights. Footage shared on social media shows some Waymo robotaxis stalled in traffic, clogging roadways and causing disruptions. One video on X showed at least five Waymos crowding an intersection, forcing human drivers to maneuver around them.The power outage in San Francisco has caused Waymo’s self-driving cars to come to a halt, leading to traffic disruptions across the city. h ...

Core Insights - A power outage in San Francisco caused significant disruptions, affecting Waymo's self-driving cars and leading to traffic congestion across the city [1][2][3] - Waymo temporarily suspended its ride-hailing services due to the outage, which impacted approximately 130,000 customers of Pacific Gas & Electric [2] - Following the outage, Waymo resumed its services the next day, emphasizing its commitment to adapting technology to traffic conditions during such events [2][3] Company Operations - Waymo's autonomous ride-hailing service was launched in 2018 in the Phoenix metro area and has since expanded to other cities like Austin and Atlanta through a partnership with Uber [9] - The company has faced challenges, including a software recall for over 1,200 vehicles due to collisions and a recent incident involving a Waymo vehicle hitting a cat, which drew public outrage [9] Competitive Landscape - Tesla and Waymo are direct competitors in the autonomous ride-hailing market, utilizing different technologies; Tesla relies on cameras and AI, while Waymo employs a combination of light sensors, radar, cameras, and detailed maps [8] - Elon Musk highlighted Tesla's robotaxis as unaffected by the San Francisco power outage, positioning Tesla favorably against Waymo in the wake of the incident [7][8]

Core Insights - Tesla's long-term growth strategy heavily relies on autonomous driving, with robotaxis being central to this vision [1] - The company has initiated its first robotaxi service in Austin, but it currently requires human supervision for each ride [1][3] Group 1: Current Developments - CEO Elon Musk announced that Tesla is close to eliminating safety monitors in Austin, predicting fully driverless robotaxis could operate within three weeks [2] - Currently, human oversight is still necessary, with monitors present in the vehicle during trips [3] - If Musk's timeline is accurate, fully driverless Teslas could be on public roads in Austin by the end of the year, marking a significant milestone [3] Group 2: Expansion Plans - Tesla initially aimed to serve half of the U.S. population by year-end, but its deployment is currently limited to Texas, California, and Arizona [4] - Future expansion plans include Las Vegas, Dallas, Houston, and Miami, contingent on regulatory approvals and safety validations [4] - The company has logged over 550,000 robotaxi miles, primarily in Austin and the Bay Area, indicating progress but falling short of earlier ambitious claims [4] Group 3: Competitive Landscape - Tesla faces significant competition in the robotaxi sector, particularly from Alphabet's Waymo, which has been operating fully driverless vehicles for years and recently achieved 450,000 weekly paid rides [6] - Baidu is another key competitor, offering fully driverless robotaxi services in multiple cities in China and expanding internationally [7] Group 4: Financial Overview - Tesla shares have increased approximately 10% year-to-date, underperforming the industry average [8] - The company trades at a forward price-to-sales ratio of 13.97, significantly higher than the industry average, and holds a Value Score of D [11]

Core Viewpoint - ARK Invest, led by Cathie Wood, is focused on the transformative potential of autonomous vehicles, particularly robotaxis, which are expected to significantly enhance auto economics and valuations [1][2]. Group 1: Tesla and Robotaxi Valuation - Cathie Wood estimates that Tesla's robotaxis will account for 90% of the company's enterprise value, contributing to a multi-trillion-dollar opportunity by 2030 [2]. - ARK's model projects Tesla's stock price could reach $2,600 by 2029, with a bear case of $2,000 and a bull case of $3,100 [1]. Group 2: ARK Invest Performance - ARK's flagship fund, ARKK, has seen a remarkable 46% increase year-to-date through September 26, outperforming the S&P 500's 15% gain [2]. - Tesla stock represents nearly 10% of ARK's portfolio, valued at approximately $1.50 billion [2]. Group 3: Expansion into Freight - ARK Invest has recently invested in Kodiak AI, a company focused on autonomous freight, indicating a strategic expansion beyond passenger rides [3][4]. - Kodiak AI began trading on September 25, following a merger that valued the startup at $2.5 billion [5][6]. - The company operates fully driverless long-haul routes and has partnerships for handling complex low-speed scenarios, positioning itself as a strong contender in the autonomous trucking space [6][7].

Technology & Innovation - Tesla Robotaxis aims to provide seamless, safe, and stress-free travel without human drivers, steering wheels, or pedals [2] - The industry anticipates initial hesitation towards driverless Robotaxis, similar to the initial fear of button-operated elevators [2][1] - The technology will allow autonomous driving anywhere, not just within a building [3] Market & Adoption - The industry expects that over time, people will become comfortable with Tesla Robotaxis, trusting the system completely, just like elevators [2][1] - The industry believes the future may seem scary initially, but eventually, the technology will become second nature [3]

Group 1 - Tesla's robotaxis are currently facing operational challenges, including instances of speeding and driving in the wrong lane [1] - The performance issues indicate that there is significant work needed before a wider launch can occur [1] - Competitors are scaling their businesses, suggesting that Tesla may need to address these issues to remain competitive in the market [1]