Brad Gerstner, CEO of Altimeter Capital, a $10.7 billion hedge fund, is making a bold strategic move by completely divesting from Uber and reallocating those investments into Tesla, driven by his conviction about the electric vehicle manufacturer’s autonomous driving technology.
Gerstner’s investment thesis centers on Tesla’s potential dominance in self-driving technology, which he believes has reached a “ChatGPT moment” in 2024.
He specifically highlighted Tesla’s Full Self-Driving capabilities and anticipated Robotaxi launch, suggesting the company is far ahead of competitors.
During Tesla’s Robotaxi Day, Gerstner was reportedly impressed by the company’s technological roadmap.
The investor views the upcoming political landscape as potentially advantageous for Tesla, particularly with expectations of regulatory changes that could benefit autonomous driving technologies.
He specifically noted Tesla’s potential alignment with the anticipated Trump administration and the company’s close relationship with CEO Elon Musk.
Comparatively, Gerstner remains respectful of Uber, praising CEO Dara Khosrowshahi’s leadership in improving the company’s financial performance and market position.
However, he sees significant disruption on the horizon from autonomous vehicle technologies, with Tesla and Waymo emerging as the primary innovators.
Gerstner boldly claims that 18 months ago, most industry observers would have expected multiple players to develop self-driving capabilities.
Now, he asserts that Tesla is decisively pulling ahead, with Waymo representing the only substantial competition in the autonomous driving space.
NEWS: Brad Gerstner said his firm sold its Uber stock after the election & put that money into $TSLA.
— Sawyer Merritt (@SawyerMerritt) November 21, 2024
Brad: “2025 is gonna be about Robotaxis. We were present at (Tesla’s) Robotaxi day. We were impressed; Uber has a hugely disruptive force coming in the case of Tesla. Tesla is… pic.twitter.com/QvsltBubGo
The investor’s optimistic projection includes a Robotaxi launch in the second quarter of 2025, underscoring his confidence in Tesla’s technological trajectory and market potential.
