Wall Street Journal’s latest Market Talk flagged Tesla’s autonomous mileage surge. Morgan Stanley notes the company is on track to exceed 10 billion cumulative full‑self‑driving miles by late May, as owners log roughly 18.5 million FSD miles each day. CEO Elon Musk frames the benchmark as a stepping stone toward fully unsupervised robotaxis. The figure places Tesla ahead of rivals still testing limited beta versions.

Analysts warn the mileage push coincides with a spending surge; Tesla’s capital expenditures are slated to double this year, while free‑cash‑flow turned negative. Such a cash crunch forces the firm to tap fresh equity, raising dilution concerns. The financial strain raises doubts that unsupervised autonomy can materialise without diluting margins. Investors therefore demand tangible progress to justify the lofty valuation attached to the EV maker.

With the stock trading near historic highs, the lack of clear evidence on robotaxi deployment could pressure share price. Morgan Stanley’s note suggests the milestone alone won’t sustain momentum unless Tesla demonstrates a path to profitable, driver‑less rides. Current market sentiment therefore hinges on the company’s ability to convert mileage figures into revenue‑generating autonomy.