Tesla stock jumped 6% on Thursday, after snapping a painful five-day losing streak the day before.

The gains gave investors the chance to think about rewards instead of just the risks.

On Thursday, investors even had one less reason to worry about. Elon Musk, CEO of the electric-vehicle makers is prepared to drop his bid if OpenAI remained a nonprofit, The Wall Street Journal reported, citing court filings.

Musk's activities outside of Tesla occasionally make investors in his car company nervous. Distraction is a risk, but so is financing. If Musk were to win his OpenAI bid, he might have to sell billions of dollars of his Tesla stock to fund the deal.

Shares closed up 5.9% at $356.37; Wednesday's gain was 2.4%. The S&P 500 and Dow Jones Industrial Average added 1% and 0.8% on Thursday, respectively.

"Tesla's stock has been under heavy pressure for a myriad of reasons in 2025 after a historic run post President [Trump's] win in November," wrote Wedbush analyst Dan Ives in a report late Wednesday.

"Myriad" includes Musk's OpenAI bid, political activities at the federal government's new Department of Government Efficiency, self-driving competition from BYD, weaker-than-expected fourth-quarter earnings, and even h0tter-than-expected monthly inflation data.

Higher inflation makes it less likely that interest rates are coming down, and higher ones make buying a new Tesla, or any new car, more costly when buyers finance the purchase.

Ives still believes Musk's Washington relationship will yield benefits for the auto maker.

"The deregulatory landscape in the Beltway will lay the groundwork for a federal autonomous road map which we believe unlocks a $1 trillion of valuation alone for Tesla over the coming years," he wrote.

Ives rates the stock at Buy with a $550 price target. That values Tesla at about $1.8 trillion.

Morgan Stanley analyst Adam Jonas rates shares Buy, too. His price target is $430.

"Tesla is well positioned in the metamorphosis of U.S. manufacturing in the AI era," he wrote on Wednesday. "Data is defining the software. Software is defining the hardware. Hardware is defining the manufacturing."

Jonas views Tesla as a vertically integrated AI play. Tesla has millions of cars on the road, generating data, which can develop the software to make cars drive themselves. It also has the manufacturing expertise to build the cars.

To be sure, those are two bulls are convinced Tesla is far more than a car company. Their target prices for Tesla stock average $490, while the average analyst price target is about $381, according to FactSet.

Coming into Thursday trading, Tesla stock is down about 17% this year. Almost all of that drop came during the five-day losing streak that ended on Wednesday.