TSLA - MORGAN STANLEY: KEY DRIVERS FOR TESLA STOCK IN THE NEXT 6–12 MONTHS Beyond Elon Musk’s 1 trillion pay package, Morgan Stanley says several factors could shape Tesla’s stock in the coming year: ❖ xAI ties: Tesla’s financial and strategic relationship with Musk’s AI startup xAI will be crucial, given their shared data and software synergies. ❖ Full Self-Driving (FSD): Musk’s claim that version 14.3 will let drivers “text while driving” marks a major milestone toward algorithmic driving. ❖ Chip production: Musk hinted Tesla may build its own chip fab to secure AI supply and strengthen vertical integration. ❖ AI network vision: Tesla could turn idle cars into a distributed AI cloud, creating a vast “swarming” intelligence network. Morgan Stanley calls these developments potential long-term catalysts for Tesla’s valuation and technology leadership.(*Walter Bloomberg)