Telsa has increased its fund raising to $2.7 billion from $2 billion.

Musk confidently told investors on the call that autonomous driving will transform Tesla into a company with a $500 billion market cap. Tesla is at about $42 billion in valuation. Elon Said Tesla cars will increase in value as self-driving capabilities are added via software, and will be worth up to $250,000 within three years.

Tesla held its Autonomy Investor Day two weeks ago. They revealed the Full Self Driving Computer and going over all of the technical details. Tesla created customized hardware only for the purpose of a full self-driving computer and they are creating software specifically to maximize that custom hardware.

Elon Musk indicates that later in the presentation and demos that they will show why LIDAR is the wrong solution for full self-driving. He indicates that LIDAR adds costs and complexity that is not needed and does not help.