Report: Tesla Inc (TSLA) Eyeing AI Partnership For Self-Driving Tech

Rumors are making the rounds that Tesla Inc (NASDAQ:TSLA) is in talks with an Israeli-based AI startup called Cortica, which specializes in technology for autonomous cars. However, CEO Elon Musk has hopped on Twitter to throw cold water on those claims.

BGR shares the scuttlebutt making the rounds about Tesla.

Interestingly enough, Musk recently traveled to Israel where he reportedly met with an Israeli-based AI startup called Cortica. Musk’s visit with Cortica is particularly intriguing given that the company specializes in AI for autonomous cars. Citing one person who claims to be familiar with the matter, Globes relays that the purpose of Musk’s visit is to examine the feasibility of incorporating Cortica’s technology into Tesla vehicles.
As to why Tesla is taking a keen interest in Cortica, the report notes that the company “is developing unsupervised machine learning systems that can understand a vehicle’s environment and identify objects while the vehicle is travelling.”

According to a note on Cortica’s website, the company’s autonomous AI technology “enables the vehicle to identify the moving parts in its environment and make informed decisions- even predicting the changes likely to occur in its surroundings.” After the story gained some considerable traction, Musk chimed in to refute it.

“This is completely false. Never even heard of Cortica,” Musk wrote. “Just taking my kids on a Spring Break trip to see ancient historical sites in Israel & Jordan.”

Tesla Inc shares were trading at $317.46 per share on Wednesday morning, up $6.91 (+2.23%). Year-to-date, TSLA has gained 1.96%, versus a 1.54% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #8 of 24 stocks in the Auto & Vehicle Manufacturers category.