With a valuation more than 6 times sales, (NASDAQ: TSLA) costs significantly more than rival automotive stocks like Ford and General Motors, both of which sell for mere fractions of 1 times sales. Tesla fans defend Tesla's high valuation, arguing Tesla is more than just a car company -- that its investments in artificial intelligence to power its self-driving car technology mean Tesla is really an AI company.

And investors in Dell Technologies (NYSE: DELL) had better hope they're right.

On Thursday, Dell won a big upgrade when investment bank Evercore ISI raised its price target on the stock from $140 to $165. As Evercore explained, its reason for upgrading Dell is because Tesla is buying much of its AI server capacity from Dell Technologies.

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Source Fool.com