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Tesla, Inc. (TSLA) Q3 2023 Earnings Call Transcript

Tesla, Inc. (NASDAQ:TSLA) Q3 2023 Results Conference Call October 18, 2023 5:30 PM ET

Company Participants

Martin Viecha – VP, IR

Elon Musk – CEO

Vaibhav Taneja – CFO

Karn Budhiraj – VP, Supply Chain

Lars Moravy – VP, Vehicle Engineering

Conference Call Participants

Will Stein – Truist

Pierre Ferragu – New Street Research

Rod Lache – Wolfe Research

George Gianarikas – Canaccord

Colin Langan – Wells Fargo

Elon Musk

[Call Starts Abruptly] new factories and we believe there’s still meaningful room for improvement there.

Regarding Autopilot and AI, our vehicles now driven over 0.5 billion miles with FSD beta, full self-driving beta and that number is growing rapidly. We recently completed a 10,000 GPU cluster of H100s. We think probably bring it into operation faster than anyone’s ever brought that much compute per unit time into production, since training is the fundamental limiting factor on progress with full self-driving and vehicle autonomy.

We’re also seeing significant promise with FSD version 12. This is the end-to-end AI where it’s photon count in, controls out. Really you can think of it as there’s just a large bitstream coming in and a tiny bitstream going out, compressing reality into a very small set of outputs, which is actually kind of how humans work. The vast majority of human data input is optics from our eyes. And so, we are like the car photons in, controls out with neural nets, just neural nets in the middle. So, interesting to think about that.

We’ll continue to invest significantly in AI development, as this is really the mass game changer. And I mean success in this regard in the long-term I think has the potential to make Tesla the most valuable company in the world by far. If you have fully autonomous cars at scale and fully autonomous

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