Dan Ives, Wedbush Securities global head of technology research, joins 'Closing Bell' to discuss why he's more bullish on Tesla now, how long it'll take the company to gain market share in autonomy and much more.

Wedbush Global Head of Technology Research, Dan Ives, has expressed increased optimism about Tesla's future, highlighting the company's focus on autonomous vehicles and robotics as central to its next phase of growth. Ives predicts that Tesla could soon expand autonomous operations to dozens of cities and potentially secure a dominant market share in the sector.

Ives has raised his price target for Tesla, citing the company's potential to lead in both autonomous driving and robotics, which he describes as a 'golden goose' for artificial intelligence. He acknowledges ongoing brand challenges in some regions but maintains that Tesla's advancements in AI and regulatory developments could drive significant growth for the company.

Dan Ives: Tesla at most important chapter for growth ever

We are back on Closing Bell. Tesla leading the Mag 7 this month and one top analyst doubling down on the name. Let's bring in Wedbush Global Head of Technology Research Dan Ives. Dan you are getting even more bullish on Tesla. Tell us why. I mean look I think this is now going to be the start of probably the most important chapter of growth ever for Tesla in terms of autonomous. I believe we're going to see 30 cities potentially over the next three to six months. And that's going to be the start. Because according to my view is is that they will own 80 percent of the autonomous market. And that is not being factored into the stock. I mean that's why I think this is two trillion for starters. Ultimately it will be a three trillion dollar mark cap. This continues to be in my opinion the most undervalued true AI play in terms of physical AI play out there. But how how long is it going to take them to get to that type of market share and autonomous. Oh I think as we go into later this year and I think especially once we go through the shareholder meeting when Musk gets pay package and ultimately Tesla gets approved for the XAI investment I think investors are going to start to realize when this gets rolled out to another eight to 10 cities over the next few months and you start to see the scale of ultimately cyber cabs. I think that's where the bell goes off. I think investors right now there's still skepticism because of the core business which is actually stabilizing. We'll see that next week. But I think this is all about autonomous and robotics. I think this along with NVIDIA the two best physical I play is in the market. And Musk now is back to wartime CEO. And that's what you need in terms of this AI arms race. Wow. And so your target is going from 500 to 600. And I think the average analyst estimate is somewhere around three hundred and forty two dollars. And you think that is all because of autonomous. Well yeah because I think when you look out the two when you get a golden goose for AI it's autonomous and ultimately it's robotics. Now it's going to be optimist. And I think Tesla right now is on the verge of what I think is going to be a period of hyper growth. I think that's and that's not being factored in is a lot of investors just continue to paint it with the same brush. And all the work we're doing is showing that this is an acceleration that's about to happen. That's why we raise price. Our contingency one of our top picks in this fourth industrial revolution. Do you think that there's still some political backlash with those that didn't agree with Elon Musk or don't agree with Elon Musk and his association with the Trump administration whether they're enemies friends frenemies. I don't know where they are right now. But how does that play out into demand for the vehicles themselves. Yeah I think you must have to separate. I think look in Europe there's clearly still brand damage. And we see that in terms of numbers. I think some of that is going to fade over time as well as in the U.S. look there. It still could be like we said 5 7 percent permanent brand damage. But I think the broader view here is that they're really going to own what I've used the autonomous world the autonomous market. You talk about with Trump and the BFF to the enemy and back. Now I think it's all about regulatory. I think Trump administration is going to accelerate the federal roadmap in terms of what's going to be bullish for autonomous. And that's going to be very important in terms of laying the groundwork for what I believe is going to acceleration of this autonomous strategy. And I think that is how Tesla is going to be viewed. This is not just for Tesla but for Musk. Most important chapter growth in its history.

Israeli Prime Minister Benjamin Netanyahu wore a QR code at the U.N. General Assembly linking to images of Hamas' Oct. 7 attack as Western nations move to recognize Palestine. Dozens of delegates walked out in protest.

New York

Middle East Conflict

Dozens of delegates walk out as Netanyahu speaks at U.N.

A court on Thursday (September 25) sentenced former French president Nicolas Sarkozy to five years in prison over a scheme for late Libyan dictator Muammar Gaddafi to fund his 2007 presidential run.

Paris

Former French president Sarkozy sentenced to five years in prison

The U.S. Justice Department filed criminal charges against former FBI Director James Comey on Thursday (September 25), in a dramatic escalation of President Donald Trump's retribution campaign against his political enemies.

Washington

Former FBI chief James Comey charged

U.S. President Donald Trump announced on Thursday new tariffs set to take effect next Wednesday, including a 100% tariff on pharmaceutical drugs. There will also be tariffs on a broad range of imported goods, such as kitchen cabinets, some furniture and trucks.

Global Tariffs

U.S. to impose new tariffs on pharmaceuticals, some furniture, trucks

US President Donald Trump has hosted his Turkish counterpart Recep Tayyip Erdogan at the White House. The two leaders discussed Türkiye's long-disputed F-35 fighter jets, trade and energy ties as well as regional matters.

Istanbul

Trump hosts Erdogan as U.S. considers lifting ban on F-35 sales

Danish officials say a series of drone incursions they’re calling hybrid attacks at airports were carried out by ‘professional actors,’ and some analysts are pointing to Russia as a culprit. Russia has denied involvement.

Copenhagen

Russia denies involvement in drone flyovers at Danish airports

Secretary of Defense Pete Hegseth has summoned hundreds of senior military officials to Virginia for an urgent gathering. The pentagon has provided very little details about the purpose of this meeting.

Quantico

Hegseth calls rare meeting of hundreds of senior military officers

Spain and Italy have sent naval vessels into the eastern Mediterranean to escort a flotilla of activists trying to break Israel’s blockade of Gaza. It’s a move that could set up tensions at sea and comes after the convoy says it was attacked by drones.

Madrid

Spain, Italy send navies to escort Gaza aid flotilla

Federal agents in Washington state have seized more than 50,000 counterfeit pills laced with carfentanil, a drug said to be 100 times more potent than fentanyl.

Centralia

Feds seize 50,000 pills laced with drug 100 times stronger than fentanyl

Palestinian Authority President Mahmoud Abbas addressed the United Nations General Assembly virtually after the U.S. revoked visas for him and members of his delegation. CBS News' Olivia Gazis reports.

Mahmoud Abbas promises no Hamas in post-war Gaza government

The widow of one of the 60 passengers aboard the American Airlines regional jet involved in the deadly midair collision near D.C. in January has filed a wrongful death lawsuit against American Airlines, the FAA and the U.S. Army.

D.C. midair collision victim's family sues airline, FAA and Army

China led several countries in announcing new climate plans on Wednesday and offered a veiled rebuke of the U.S. president's anti-climate rhetoric a day earlier at the U.N. General Assembly.

Beijing

China sets new emissions goals after Trump rejects climate change

World leaders have launched an initiative, “Democracy Now,” on the sidelines of the UNGA to counter far-right extremism and defend multilateralism. As the UN faces skepticism, a new initiative by Brazil, Spain, Chile, Uruguay, and Colombia is gaining support among member states.

Leaders at the U.N. push reforms to counter authoritarian rise

U.S. Secretary of State Marco Rubio met Russian Foreign Minister Sergei Lavrov on the sidelines of the U.N. General Assembly. The meeting came a day after President Trump appeared to soften his language on the Ukraine war, raising questions about U.S. policy direction.

Manhattan

Ukraine Invasion

Rubio meets Russia's Lavrov after Trump shifts tone on Ukraine war

The family of one of the 67 people killed earlier this year when an American Airlines plane and a  U.S. Army helicopter collided over Washington, D.C., filed a lawsuit against the government and the airline.

Widow of D.C. plane crash victim sues American Airlines, federal gov.

The new Paramount+ documentary "Bodyguard of Lies" highlights the efforts across four presidential administrations to conceal the challenges the U.S. faced during the Afghanistan

New documentary uncovers gov. deception during Afghanistan War

In his address to the U.N. General Assembly, Ukrainian President Volodymyr Zelenskyy warned that Russia wants to expand the war beyond Ukraine.

Putin wants to expand war beyond Ukraine, Zelenskyy warns U.N.

The Trump administration is rehiring hundreds of federal employees who were laid off during cuts made by the Department of Government Efficiency, or DOGE. CBS News' Olivia Rinaldi has more details.

Trump administration rehires hundreds laid off during DOGE cuts

Former French President Nicolas Sarkozy faces up to 10 years in prison if a Paris court convicts him of secretly using funds from the Libyan government of late dictator Moammar Gadhafi to finance his presidential campaign in 2007.

Ex-French President Sarkozy awaits verdict in trial

An international aid flotilla trying to deliver aid to Gaza said on Wednesday (September 24) it was attacked overnight by drones in international waters off Greece, prompting Italy to send a navy ship to come to its assistance.

Italy sends navy ship to help Gaza aid flotilla after drone attack

At least three people were shot at a Dallas Immigration and Customs Enforcement facility on Wednesday morning, officials said. One victim was killed, while two others are injured. The shooter died of a self-inflicted gunshot wound.

Dallas

Three people shot at ICE facility in Dallas, officials say

The U.S. has long argued China should give up the developing-country status because it is the world’s second-largest economy.

China gives up WTO developing-country status as tariff tensions linger

U.S. President Donald Trump reversed his stance on the Ukraine war after meeting President Volodymyr Zelensky at the UN General Assembly, now expressing confidence that Ukraine can reclaim all its territory.

Trump reverses stance on Ukraine after meeting with Zelenskyy

After a six-day suspension, late-night host Jimmy Kimmel broke down in tears during his return to TV with a monologue focused on the importance of the maintaining the right to free speech while still poking fun at the Trump administration.

Los Angeles

Jimmy Kimmel makes emotional return with monologue about free speech

Typhoon Ragasa, the world's most powerful tropical cyclone this year, struck the southern Chinese city of Yangjiang on Wednesday after lashing Taiwan and Hong Kong with ferocious winds and heavy rains.

Yangjiang

Typhoon Ragasa lashes Hong Kong, Taiwan, southern China

Mainland China is bracing for Super Typhoon Ragasa, after the powerful storm caused widespread destruction across the region. In Taiwan, at least 14 people have died in flooding triggered by the cyclone.

Kowloon

Typhoon Ragasa sweeping towards China, 14 killed in Taiwan

A jury has convicted Ryan Routh of attempting to assassinate U.S. President Donald Trump on his Florida golf course last year. He was found guilty of all five charges, which included attempted assassination of a major presidential candidate and assaulting a federal officer.

West Palm Beach

Ryan Routh found guilty of trying to assassinate Trump

U.S. President Donald Trump on Tuesday (September 23) spoke with reporters while meeting with Ukrainian President Volodymyr Zelenskyy at the United Nations General Assembly in New York City.

Trump takes questions during meeting with Zelenskyy

Chipmaker Nvidia said it would invest up to $100 billion in OpenAI, the developer of ChatGPT, as part of a strategic partnership. CBS MoneyWatch correspondent Kelly O'Grady has more details.

Santa Clara

Rise of AI

Nvidia to invest up to $100 billion in OpenAI

For the first time in more than half a century, astronauts will soon be heading back to the moon. CBC's Nicole Mortillaro breaks down the preparations for the mission, Artemis II, which will send astronauts on a historic loop around the moon.

Breakdown