Tesla Shares Rise After AI Team Disbandment
Shares of Tesla Inc. increased by 2.3% in trading following the company’s decision too dismantle its Dojo team, the division dedicated to artificial intelligence development. Concurrent with the team’s dissolution, the executive leading the project is departing from Tesla.
The Dojo project,initiated in 2016,aimed to create a supercomputer and neural network training system specifically designed for autonomous driving. Tesla envisioned Dojo as a critical component in achieving full self-driving capabilities, intending it to process the vast amounts of video data collected from its vehicle fleet. The system was intended to accelerate the development and refinement of its Autopilot and Full Self-Driving (FSD) software.
The disbandment of the Dojo team and the executive’s exit raise questions about Tesla’s future strategy regarding AI and autonomous driving. While Tesla continues to develop and deploy FSD features, the shift suggests a potential re-evaluation of its internal AI infrastructure. The company has not yet publicly named the departing executive. Tesla’s headquarters are located in Austin,Texas.
tesla’s stock closed at $177.41 on February 8, 2024, reflecting the 2.3% gain. The company’s market capitalization currently stands at approximately $586.5 billion as of the same date.The move comes amid increased scrutiny of the timeline and feasibility of achieving Level 5 autonomous driving, the highest level of automation.
