Tesla is called an AI sleeper that could take on Nvidia
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Tesla (NASDAQ:TSLA) is called the dark horse AI play by Truist Securities in a follow-up to the company's high-profile AI day in September. 
"We believe investors are less aware of Tesla's emerging expertise in Artificial Intelligence technologies," advised the firm. In particular, Truist noted that advanced driver assistance systems are one of the most successful AI applications to date in the real world. 
Truist thinks the applicability to Tesla's business should be immediately apparent as autonomous vehicle technology advances even further.
While Nvidia (NVDA) is called the clear leader in AI, Truist sees a path for Tesla (TSLA) to build its own business to compete with the California-based chipmaker in certain areas in the future.
"We believe the companyâs position in this market is less a result of its strong position in GPUs [graphics processing unit] and other emerging products, and more a result of its culture of innovation, software development tools, and ecosystem of incumbency."
Truist has a Buy rating on Tesla (TSLA) and price target of $333, with the AI potential accounting for some of that upside.
Read Seeking Alpha author Ben Alaimo's breakdown of Tesla's AI Day that included details on the new Dojo supercomputer.