Tesla has the potential to overtake Nvidia, Apple in valuation, Musk claims

Investing.com– Tesla Inc (NASDAQ:TSLA) CEO Elon Musk said on Thursday that the electric vehicle maker has the potential to become the most valuable listed company in the world, overtaking the likes of Nvidia and Apple. 

Responding to an X post listing the most valuable companies in the world by market capitalization, Musk said “Tesla has the potential to be #1 by a large margin.”

Tesla currently ranks as the eighth-largest listed company in the world, with a market capitalization of $1.3 trillion. 

NVIDIA Corporation (NASDAQ:NVDA)- which recently reclaimed its spot as the world’s most valuable listed company, is worth about $3.6 trillion, while Apple Inc (NASDAQ:AAPL) is a close second with a $3.4 trillion valuation. 

Tesla had rallied in December, hitting a peak lifetime valuation of about $1.5 trillion on optimism over Musk’s increasing influence in the Donald Trump administration.

Trump has also signaled plans to loosen regulatory restraints on technology in the U.S., which could lead to the swifter approval of Musk’s artificial intelligence and self-driving ambitions.

Analysts believe that AI and self-driving represent the next leg of growth for Tesla, especially as the EV maker grapples with sluggish vehicle sales, amid heightened competition in China. 

Musk had in October revealed the Cybercab- a two-seater autonomous vehicle which is expected to be the next step in Tesla’s self-driving ambitions.