Magnificent 7: Nvidia Battles Back; Elon Musk Makes AI Boast

Nvidia stock reversed higher, gaining 0.6% and rallying out of the red amid a price-target hike at Morgan Stanley. Analyst Joseph Moore retained an overweight rating and hiked his target to 144 from 116.

It was outperformed today by Tesla stock, which popped more than 6%. It retook its 200-day moving average for the first time since Jan. 10.

Tesla surged after Wells Fargo added the stock to its "tactical ideas" list while maintaining an underweight rating for the stock. Wells Fargo sees "declining delivery growth driven by lower demand & diminished return on price cuts."

He made the statement as he apologized for the "delay" in the release of the firm's latest Full Self-Driving Capability Supervised version, which has started to roll out to employees. Musk partially blamed "too much training on interventions and not enough on normal driving" for the slower rollout.

"Our next-gen AI model after this has a lot of promise: ~5X increase in parameter count, which is very difficult to achieve without upgrading the vehicle inference computer," he said. Musk said separately that "higher parameter count" shows how well the AI model understands nuances of reality.