Ark Invest’s Cathie Wood said on Thursday her beloved Tesla could hit $2,000 in five years thanks to the robotaxi boom. The Innovation Investor has updated her price target for Elon Musk’s company to $2,000 by 2027, a whopping 1,127% increase from Tesla’s Thursday close of $162.99. Her valuation would also translate into a market cap of more than $5 trillion for Tesla. Wood said her predictions include a target of $1,400 in the case of a bear and $2,500 in the case of a bull. “It was one of the most important investment opportunities of our lifetime,” Wood said of robotaxis. Wood believes the robotaxi opportunity could bring in $8 trillion to $10 trillion in revenue by 2030. Tesla began discussing its ambitions in self-driving technology in 2016. Tesla is the dominant player. holds the most in her flagship Ark Innovation ETF (ARKK), with 9.4% weighting. The innovation investor was once a longtime Tesla bull, betting on a rapid transition to electric vehicles. Her previous target was $1,500 by 2026. The innovation investor said she’s not worried about Tesla’s first-quarter earnings triggering a sell-off of nearly 10% on Thursday. “We wanted Tesla to scale up our units. Each of them now represents the potential for robotaxi and the robotaxi team,” Wood said. “We thought it would be smart to maximize the units.” Musk on Wednesday hinted that he is prioritizing growth over profits amid a series of price cuts for electric vehicles. Tesla slashed the prices of some Model Y and Model 3 electric vehicles for the sixth time this year amid concerns about the impact on its profit margins. “We’re of the opinion that driving higher volumes and larger fleets is the right choice here versus lower volumes and higher margins,” Musk said on the earnings call. Tesla’s entry on Wednesday night. Musk emphasized that he expects the company to be able to generate significant profits through autonomy.