12 Hot AI Stocks on Wall Street’s Radar

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 120

Tesla, Inc. (NASDAQ:TSLA) is one of the 12 Hot AI Stocks on Wall Street’s Radar. On December 9, Piper Sandler analyst Alexander Potter reiterated an “Overweight” rating on the stock with a $500 price target. Firm analysts remain optimistic on the stock, noting significant progress in Tesla’s Full Self Driving tech driving increased investor interest.

Piper Sandler believes Tesla is “getting very close to unsupervised FSD.” This means that drivers may be able to use the system without monitoring or intervention.

Citing data from a designer of the FSD Community Tracker, which is a website that gauges the efficacy of Tesla’s FSD software, analysts noted sharp improvements in performance metrics.

In particular, the tracker’s core metric, known as the miles to critical disengagement, “exhibited a >20x improvement after FSD v14.1.x was released in October (from 441 miles in the previous version to 9200+ miles).”

The marks the largest improvement observed in four years of data collection, analysts noted.

“The tracker’s core metric, referred to as ‘miles to critical disengagement’, exhibited a >20x improvement after FSD v14.1.x was released in October (from 441 miles in the previous version to 9200+ miles). This was the biggest sequential improvement in four years of data collection. This, in addition to a subsequent down-tick in performance (v14.2.x), has sparked a recent increase investor interest.”

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives.