Oppenheimer maintains Tesla's “same rating as the market,” and believes that the company is moving further from an automobile manufacturer to a vertically integrated Physical AI platform. The agency pointed out that Tesla continues to strengthen its self-research capabilities in key parts of the supply chain. Among them, entering semiconductor manufacturing is seen as an aggressive but important strategic move, which helps improve core hardware performance and reduce supply chain risks. Oppenheimer believes that the chips and computing experience accumulated by the Dojo project will still support Tesla to advance self-developed chips in different types of products, while the company continues to make progress in expanding computing power and manufacturing Cybercab. However, the agency anticipates that the pace of mass production of the Optimus humanoid robot may be further delayed, and believes that Dojo has not significantly closed the gap between Tesla's computing platform and its peers until now.

Oppenheimer maintains Tesla's “same rating as the market,” and believes that the company is moving further from an automobile manufacturer to a vertically integrated Physical AI platform. The agency pointed out that Tesla continues to strengthen its self-research capabilities in key parts of the supply chain. Among them, entering semiconductor manufacturing is seen as an aggressive but important strategic move, which helps improve core hardware performance and reduce supply chain risks. Oppenheimer believes that the chips and computing experience accumulated by the Dojo project will still support Tesla to advance self-developed chips in different types of products, while the company continues to make progress in expanding computing power and manufacturing Cybercab. However, the agency anticipates that the pace of mass production of the Optimus humanoid robot may be further delayed, and believes that Dojo has not significantly closed the gap between Tesla's computing platform and its peers until now.