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Tesla Stock Soars 6% Amid AI Chip Progress Announcement

4/16/2026

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Summary

Story summary

Tesla's stock rose more than 6% on April 15, 2026, after Elon Musk, Tesla Chief Executive Officer, announced progress on the AI5 chip's engineering.
Tesla plans to build two chip factories in Austin, Texas, with SpaceX, one for vehicle and robot chips and another for orbital data centers.
UBS analysts upgraded Tesla's stock rating from sell to hold, raising the price target to $352.

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Story summary

Tesla's stock rose more than 6% on April 15, 2026, after Elon Musk, Tesla Chief Executive Officer, announced progress on the AI5 chip's engineering.
Tesla plans to build two chip factories in Austin, Texas, with SpaceX, one for vehicle and robot chips and another for orbital data centers.
UBS analysts upgraded Tesla's stock rating from sell to hold, raising the price target to $352.