so Elon Musk the CEO of Tesla recently made his first visit to China in three years and let me tell you investors are loving the implications of that in fact shares of Tesla jumped as much as six percent on that news alone and as of 10 35 a.m eastern time on May 30th the stock was still up by 4.3 percent not too shabby right but that's not all Tesla stock has been having a pretty good month overall it's up almost 25 percent in May alone so what's driving all this excitement welcome to the economic report your go to channel to get the latest stocks and economy news please like subscribe and press the Bell icon to get new video updates thank you for your support well investors think that musk's visit to China signals A Renewed focus on Tesla and China in particular after he hired a new CEO to run Twitter during his visit musk met with China's foreign minister Ching gang and is expected to tour the company Shanghai manufacturing plant and that's not all Tesla Shares are also benefiting from investor excitement surrounding artificial intelligence AI the widely followed investor Kathy would even set on Twitter that Tesla is the best way for investors to play the Boom in the use of AI now let's talk about Tesla's presence in China their largest plant is located in Shanghai and can produce about 1 million Vehicles annually the company has also announced plans to build a battery Factory there and while we don't know all the details of musk's meeting with the foreign minister it's possible that the company is planning on adding even more capacity in the country but it hasn't all been smooth sailing for Tesla in China they've been facing some stiff competition and have had to cut vehicle prices to stay competitive but mosca said that there's more to this strategy than just fighting near-term competition he believes that his company will see Rising future profits from software like margins when it releases autonomous driving capability and other upgrades to customers and that brings us back to AI one obvious area for Tesla to profit from AI is through its use of AI for its models to train software to drive vehicles the company is trying to perfect its full self-driving technology and build vehicles for driverless taxi service but would also thinks that AI being used for Tesla's humanoid robot project called Optimus could bring huge future profits for Tesla so there you have it folks shareholders have seen the stock rise recently from ongoing AI hype and its potential and the stock got an extra boost as musk renews his personal relations with leaders in China investors are hoping this is a sign that there will be more gains to be had in that large EV Market thanks for watching
