Cathie Wood Says Tesla In 2030 Could Be Worth Half Of China’s Size Today — And Not Because of Cars

ARK Invest founder and CEO Cathie Wood has reiterated her highly ambitious price target for Tesla shares, projecting the stock to reach $2,600 by 2030. Speaking to CNBC, Wood emphasised that her outlook has not shifted despite ongoing debate around Tesla’s future growth. As per Wood’s projection, at $2,600 stock price, Tesla is expected to become an $8.7 trillion company by 2030, bringing its valuation to nearly half of China’s current stock market size, worth around $19 trillion.

“We have a 2030 price target of, $2600. Hasn't changed in quite some time. 90% of that valuation is a function of robotaxis. We have very little for humanoid robots, and we're doing the research right now to understand how difficult it will be to scale humanoid robots. The problem, or the humanoid robot problem, complexity, is multiples of robotaxis,” Wood told CNBC.

The seasoned investor, known for her growth-focused investment strategy, added that Tesla’s positioning across robotics, artificial intelligence and energy storage strengthens ARK’s confidence in its forecast.

“Now, we think Tesla is in the best position because it's already a robotics, energy storage, and AI company with robotaxis. So it's a good part of the way there, much further than most companies, I would say. So, we have very little in that $2600 for humanoid robots, to the extent humanoid robots evolve faster than we're expecting, then that price target goes up.”

ARK’s confidence in Tesla’s robotaxi business is not new. In June 2024, ARK’s updated open-source model projected an expected value of $2,600 per share in 2029. Even then, the firm had estimated that nearly 90% of Tesla’s enterprise value and earnings would come from robotaxis in 2029. Electric vehicles were expected to represent roughly a quarter of total sales and around 10% of earnings potential, as ARK said it believed the robotaxi business would deliver much higher margins.

Meanwhile, Tesla shareholders have shown strong support for CEO Elon Musk’s future role in the company. On Nov. 6, shareholders overwhelmingly endorsed a massive pay package for Musk that could reach $1 trillion.

The package, created to ensure Musk's continued service to Tesla as the company pursues breakthrough technology on artificial intelligence and robotics, won more than 75% support from shareholders. The compensation plan aims to ensure Musk remains at Tesla for at least seven-and-a-half years, potentially increasing his holding in the company from about 12% to more than 25%.