Key Points Tesla shares rose by nearly 8% on Wednesday after the company rolled out software updates for its vehicles, and CEO Elon Musk touted chip tech progress. The spike also followed an upgrade from formerly bearish UBS analysts on Tuesday. The firm changed its rating on shares of Tesla from sell to hold and increased the price target by about a dollar to $352. In this article Nvidia stock is on a 10-day winning streak and up 18% over that stretch The company's lineup currently includes its Model 3 sedan, Model Y SUV and angular steel Cybertruck. The company has stopped selling its flagship Model S and X vehicles in order to transition part of its Fremont, California, factory to produce its humanoid robot, Optimus, now in development. The rising share price also comes after Tesla launched the spring update for its in-vehicle software, including features that make it easier for customers to subscribe to the company's premium, Full Self Driving (Supervised) option, and to view statistics in their touchscreens about how often they are using it. FSD (Supervised) costs $99 per month currently in the U.S. and can automatically handle some steering, lane changes, and parking, under active driver supervision. FSD (Supervised) does not make Tesla vehicles autonomous. The company is testing a small number of driverless vehicles in its Robotaxi ride-hail service in Austin, Texas. The spring software update also included changes to the in-vehicle capabilities of AI chatbot Grok, made by Musk's xAI, which is now owned by his rocket maker SpaceX. Drivers can now say, "Hey Grok" to wake the app and start using it hands-free in Tesla EVs. Musk has promised, for more than a decade, that Tesla is on the brink of delivering driverless, or "robotaxi-ready," vehicles to customers. That hasn't happened yet, although its systems have evolved. — CNBC's Michael Bloom contributed to this report. watch now