Tesla (TSLA) shareholders voted in favor of CEO Elon Musk’s pay package at Thursday’s annual shareholder meeting. Canaccord Genuity Managing Director George Gianarikas joins Catalysts to discuss the results of the shareholder vote, takeaways from the event, and the EV company’s outlook.
"We were very encouraged that shareholders approved the previously approved pay package. Obviously, Elon Musk is critical to the success of Tesla in the past and in the future… We’re very bullish on the long-term prospects of full self-driving (FSD) and we’re bullish on robotics," Gianarikas says.
At Thursday’s meeting, Musk discussed leveraging the inference compute on some of the full self-driving vehicles, which Gianarikas believes could in the long-term "create something that looks like Amazon’s (AMZN) AWS that he can then sell and create a revenue stream around. That’s probably going to impact the PNL 2030 and beyond."
As Tesla continues to innovate with AI, Gianarikas believes the company is "in an incredibly enviable position relative to other companies for real-world AI. And what real-world AI means for us in the near term is full self-driving, maybe long-term moving robots."
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