TSLA Will Buy Chips From AMD & Invest $500m On NVDA Hardware 🤩

Tesla will invest $500 million to install a Dojo supercomputer in Buffalo, New York, according to New York State Governor Kathy Hochul. It will process millions of terabytes of data from its EVs to improve the safety and engineering of FSD.

⚠️ Trading tips: looking to add position on AMD before earnings next Mon / Tue to ride on the news. Good to buy the dip around 173-175 should opportunity arises, or a break above resistance trend line as indicated.

AMD earnings pump coming up

Elon Musk was responding on X to reports of Tesla investing $500 million to install a Dojo supercomputer in Buffalo, New York. Musk confirmed the news but added that while the investment amount of $500 million is a large sum of money, Tesla will spend more on buying hardware from suppliers including Nvidia. The company is also planning on getting chips from AMD, he added in another post.

Musk has said that Tesla plans to invest more than $1 billion on an effort called Project Dojo by the end of 2024. Dojo refers to an in-house supercomputer designed to handle massive amounts of data, including video from Tesla cars needed to create autonomous-driving software.

AMD’s MI300 can run AI software faster

“We’re pursuing the dual path of Nvidia and Dojo,” Musk said during Tesla’s earnings call on Wednesday. “But I would think of Dojo as a long shot. It’s a long shot worth taking because the payoff is potentially very high,” he said.

Musk said on Friday that the EV giant plans to purchase chips from Advanced Micro Devices Inc (NASDAQ:AMD) to advance artificial intelligence, in addition to spending over $500 million on hardware from NVIDIA Corp (NASDAQ:NVDA).

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