What's Going On With Tesla Stock Friday?

Zinger Key Points
  • Tesla stock fell on Friday coinciding with Morgan Stanley analyst Adam Jonas' bearish take on EV industry.
  • Tesla released a software upgrade in China, adding lane markings on maps to enhance in-car navigation and reduce reliance on smartphone apps

Tesla, Inc TSLA stock is trading lower on Friday. Morgan Stanley analyst Adam Jonas claimed that the artificial intelligence frenzy and its impact on the electricity grid are taking a toll on the EV giant and its rivals.

Jonas expected the total U.S. data center power usage, including generative AI, to reach 337 TWh by 2027, equivalent to adding 59 million EVs to U.S. roads. For EV giant Tesla to deliver 59 million EVs will take nearly 35 years at the current production rate, as per the analyst.

Also Read: Tesla Rival Rivian Rolls Out Next-Gen R1S And R1T: Enhanced Performance, Design, And Tech Start At $69,900

Meanwhile, Tesla released a software upgrade for its in-car navigation system in China, featuring lane markings on maps that match actual road lanes. The company flagged new features that reduce reliance on smartphone applications while driving, Reuters reports.

Shanghai Securities News reported Baidu Inc BIDU as the map supplier.

Tesla, which uses cameras for its autonomous driving technology, is working to introduce its ‘Full Self-Driving’ (FSD) software in China.

Also this week, Nvidia Corp NVDA insider emails indicated Elon Musk diverted 12,000 H100 GPUs from Tesla to X, delaying Tesla’s AI projects by over $500 million.

However, analysts remain optimistic on Tesla's prospects, betting on its FSD software despite demand and competition headwinds which they expect Tesla to overcome in 2026.

Price Action: TSLA shares traded lower by 1.09% at $175.93 premarket at the last check Friday.

Tesla stock lost 21% in the last 12 months. Investors can gain exposure to the stock via 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: AsiaGovernmentNewsRegulationsGlobalMediaAI GeneratedBriefsChinaelectric vehiclesmobilityStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!