Sept 11 Reuters Tesla39;s Dojo supercomputer could power a near 600 billion jump in the automaker39;s market value by boosting the adoption of robotaxis and its software services, Morgan Stanley analysts said, sending the electric vehicle maker39;s shares up 6 in premarket trading on Monday.

Tesla, already the world39;s most valuable automaker, started production of the supercomputer to train artificial intelligence AI models for selfdriving cars in July and plans to spend more than 1 billion on Dojo through next year.

Dojo can open up new addressable markets that extend well beyond selling vehicles at a fixed price, Morgan Stanley analysts led by Adam Jonas said in a note on Sunday.

If Dojo can help make cars 39;see39; and 39;react,39; what other markets could open up? Think of any device at the edge with a camera that makes realtime decisions based on its visual field.

The Wall Street brokerage upgraded Tesla39;s stock to overweight from equalweight and made it their top pick, replacing Ferrari39;s U.S.listed shares .

Morgan Stanley raised its 1218 month target on Tesla39;s shares by 60 to 400 the highest among Wall Street brokerages, as per LSEG data which, it estimated, would give the EV maker a market capitalization of about 1.39 trillion.

That39;s about 76 higher than Tesla39;s market value of about 789 billion, based on the stock39;s close of 248.5 on Friday. The stock climbed about 6 to 264 before the bell on Monday.

Jonas expects Dojo to drive the most…