Tesla Stock Rises 5% to Reclaim $400 Mark; Musk Claims New AI Surpasses Claude, Morgan Stanley Raises Q2 Delivery Estimates

TradingKey - On June 29, Eastern Time, Tesla ( TSLA) shares surged back to $400, rising 5.83% to $401.84 as of press time. Tesla is reportedly set to release its second-quarter delivery report this week, with Wall Street investment banks expecting deliveries to beat market expectations.

[Source: TradingView]

Morgan Stanley raised its delivery forecast from 373,000 to 413,000 units. The bank stated that although the overall momentum in the US market remains soft, the recovery in the European and Chinese markets is robust and is expected to drive a 7.6% year-on-year increase in deliveries.

The core reason for the upward revision is a significant year-on-year increase in vehicle registration data in the European market, with April data continuing the recovery trend following the 2025 industry trough. Meanwhile, the Chinese market is also showing signs of recovery, with domestic sales in May achieving both month-on-month and year-on-year growth, ending a two-month consecutive year-on-year decline as demand gradually stabilizes.

Barclays stated that the current pricing logic for Tesla's stock has become highly narrative-driven, with investors' core valuation anchors centered on long-term inflection point expectations for business lines such as Robotaxi, the humanoid robot Optimus, and artificial intelligence. In contrast, fundamental metrics such as second-quarter deliveries and profit margins are increasingly being marginalized in market discussions.

Today, positive news also emerged regarding Tesla's artificial intelligence. Elon Musk disclosed on platform X today that Grok 4.5, developed by xAI, is undergoing internal testing at SpaceX and Tesla.

Musk stated that Grok 4.5's performance is close to, or perhaps even surpasses, Anthropic's Claude Opus. However, he admitted that the model is still being optimized, particularly with reinforcement learning from human feedback still underway. The accompanying "Grok Build" internal testing benchmark is also being iteratively updated daily.