Cathie Wood

I think we just learned this week that there is no chase car behind the robo taxis in Austin.

And on the earnings call, Elon said that Tesla's robo taxis will be in 25 to 50% of the major cities in the United States by the end of this year.

So scaling so much faster than Waymo did.

And in fact, on the call, he said that there are about 500 robo taxis out there right now and without unsupervised.

And he thinks that number is going to double every month.

And if so, that means Tesla's robo taxi fleet will surpass Waymo's in three months.

And we thought this would happen.

And we also thought, and he mentioned it on the call,

that federal legislation, you know, sort of enabling the scaling across state lines would be very helpful.

So maybe he has an inkling we'll see that.

We think that 90% of Tesla's valuation in five years is going to be because of robo-taxis.

And we have very little.

The last model we did was for 2029.

We're updating it now.

So I can only give you those numbers.

So our price target there is $2,600, and we're in the low $400s today.

So a nice appreciation over five years, but we don't have anything for Optimus in there.

And what's interesting about the call is clearly Elon is feeling good.

about Optimus expecting to ramp to 1 million.

I think, is it by the end of next year?