Elon Musk thinks Tesla could be worth more than the next five most valuable companies combined one day, thanks to autonomous driving and robotics. However, Tesla stock plunged 47% from its record high,

“With respect to humanoid robots, I don’t think there’s any company in any country that can match Tesla,” Musk said in an earnings call Tuesday in response to a question about competition between China and the U.S. in the development of physical AI and drones.

"Without having to do anything, Beijing already seems to have the upper hand here," said CNN Beijing bureau chief Seven Jiang.