Elon Musk wants Tesla (TSLA) to build a humanoid robot… In fact, he called it the “most important product” Tesla is developing this year during the company's most recent earnings call.
It’s a bit outlandish, but not entirely surprising coming from Musk. He’s known for his showmanship, and the development of a robot only further emphasizes this point.
However, it may not be as crazy as it initially sounds. While he noted that Tesla would not release its Cybertruck… or any new vehicle in 2022… the company is instead focused on the future.
The robot, currently code-named Optimus, could ultimately be an even more important investment for the electric-vehicle giant.
That’s because it has the potential to not only help expand Tesla’s production capacity, but also perform tasks that can now only be done by humans.
Musk explained that the ongoing labor shortage has made it crystal clear that the economy’s foundation is built on labor… as it’s currently one of the largest issues companies across the world are struggling to alleviate.
And even if the robot were to fail, the advancements the company may make could ultimately result in new discoveries… allowing for the EV manufacturer to replace some workers with machines to complete repetitive and dangerous tasks at a faster rate.
Yet, Tesla is unlikely to be the sole benefactor of the company’s push…
Musk’s statements could simply provide the artificial intelligence industry the hype it needs to further progress… as we’ve seen that even just a Tweet from the CEO has the power to drive sectors higher or lower…
This may once again be the case now that he’s said Tesla is all in on the development of AI-powered robots.
And if they do hold any weight here, AI enterprise-software developer C3.ai (AI) could see its share value trend higher.
That’s because C3.ai is building AI software for a variety of industries. This includes the auto market, oil and gas, and health care. It also develops software for retail, telecommunications companies, and government agencies.
This has enabled the AI developer to rapidly grow its presence across several markets. It also helped it report revenue of $58.3 million in its most recent quarter… which was higher than Wall Street’s projected revenue of $57 million.
But this figure could surge even higher in the years ahead…
According to the data-tracking website Statista, the AI software market is currently valued at around $23 billion. By 2025, Statista noted that number could rocket by 458% to $126 billion.
So, however the public may presently feel about AI, the sector’s growth is largely inevitable.
This is especially true now that Elon Musk, and some of the largest and highest-returning stocks, are doubling down on the space… as it indicates that investors may miss out if they ignore the potential of up-and-coming AI developers.
Elon Musk made $180 million on PayPal, $18.7 billion on SpaceX, and $110 billion on Tesla.
But it's what he's planning next that will shock everyone.
It could even put up to an extra $30,000 in your pocket every year.