Money manager Cathie Wood is continuing to be an ardent backer of Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk.
Elon Musk is our "renaissance man," Wood said in an interview with Bloomberg TV.
She concurred that Tesla has ramped up quite a bit. The company has the manufacturing scaling under control and Musk needn't stick around at the company for the EV side of it, the money manager said.
Musk and Andre Karpathy, Director of AI at Tesla, need to stick around for the autonomous fleet side and artificial intelligence, Wood suggested.
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When asked why Musk should focus on these two, the Ark Invest founder said for Tesla, General Motors Corporation (NYSE:GM)-owned Cruise, and Alphabet, Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo, the autonomous fleet is the biggest transportation opportunity.
"Think about this as $10 trillion in revenue versus zero now, by 2030," Wood said. This is Ark's base-case scenario, she added.
This would mean $9 trillion to $10 trillion in revenue, the money manager said. There isn't a bigger opportunity, it isn't just one sector and convergence is going on, she explained.
Price Action: Tesla closed Wednesday's session at $725.60, up 1.25%, according to Benzinga Pro data.
