Top 30 S&P 500 Stocks by Index Weight

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8. Tesla Inc. (NASDAQ:TSLA)

Index Weight: 2.31%

Number of Hedge Fund Holders: 137

Tesla Inc. (NASDAQ:TSLA) is one of the top S&P 500 stocks by index weight. On April 15, Tesla Inc. (NASDAQ:TSLA) stock jumped 8% after the Chief Executive Officer, Elon Musk, said they have completed tape-out of the next-generation artificial intelligence chip, A15.

With the tape-out behind them, Tesla can now proceed to the manufacturing stage, Musk having announced that they have engaged TSMC and Samsung to produce the Chip. The executive also insists the chip will become one of the highest-volume AI chips in history, with full-scale production expected in 2027.

The A15 chip could be used in Tesla’s products, including autonomous vehicles and humanoid robots. The A15 chip milestone helped alleviate concerns about Tesla’s Vehicle deliveries. Data shows that the company’s global deliveries for the first quarter totaled 358,000 units, well below the market’s median estimate of 372,000 units. It marks the second consecutive quarter of missed vehicle deliveries.

Tesla Inc. (NASDAQ:TSLA) accelerates the world’s transition to sustainable energy by manufacturing electric vehicles (EVs), developing AI-driven autonomous-driving technology (Full Self-Driving), and producing solar energy products and battery energy storage solutions. Key operations include the Tesla Supercharger network and advancing artificial intelligence through robotics.

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