Tesla's Surge in Pre-Market Trading

Tesla (TSLA) shares experienced a remarkable 2% surge in pre-market trading on Thursday, nearing their 52-week high, following an exciting upgrade from Bank of America Securities. This bullish sentiment is attributed to Tesla's strategic pivot towards robotics and artificial intelligence (AI), which are being positioned as integral to the company's long-term growth strategy.

Bank of America Raises Price Target

Bank of America has raised its price target for Tesla's stock to an ambitious $400, largely due to the potential impacts of Tesla's Optimus humanoid robot. Currently instrumental in the company's energy storage sector, Optimus is expected to play a significant role in manufacturing operations for the highly anticipated CyberCab, which is slated for unveiling in 2022.

Elon Musk's Vision for AI

CEO Elon Musk has made it clear that advancements in AI, showcased through initiatives like the Dojo supercomputer and autonomous systems, are vital for the company's future trajectory. In a show of commitment, Tesla has allocated a staggering $10 billion for capital investments this year aimed at accelerating these innovative ambitions.

Analysts' Optimism