🚀 Tesla's Robot Future

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. At Tesla's "We, Robot" event, Elon Musk unveiled two autonomous vehicles: the Cybercab, a two-seater with no steering wheel or pedals, and the Robovan, capable of transporting up to 20 people. The Cybercab, expected to cost under $30,000, could begin production before 2027, while both vehicles feature inductive charging. Musk also highlighted progress with Tesla’s Full Self-Driving (FSD) system, aiming for unsupervised use by 2025. The event also teased Optimus robots, which were showcased interacting with attendees.

2. AMD unveiled its new AI chip, the Instinct MI325X, targeting Nvidia's dominant position in data center GPUs. The MI325X, launching by late 2024, is set to compete with Nvidia's Blackwell chips. AMD aims to capitalize on the growing AI market and challenge Nvidia’s 90% share. CEO Lisa Su emphasized that AMD is enhancing its ROCm software to rival Nvidia's CUDA. The company also introduced EPYC 5th Gen CPUs, focusing on AI workloads. Despite challenges, AMD hopes to gain market share in the booming AI chip space.

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4. Headlines

   1. The UK economy grew 0.2% in August, as expected.

   2. Investors are concerned over the higher than expected CPI figures released last week.

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