The most interesting question about this is what their motivation was to justify building an in-house ASIC design team. That isn't a super hard thing to do for a company of Tesla's size, but it is nontrivial and seems like a significant investment. It is probable that they got massive performance improvements by specializing their hardware, but it isn't clear that they couldn't have gotten the same perf improvement b…
If you have your own ASIC it's a differentiator that's hard for other players to compete with. They'll take this to potential investors (or stockholders the "market") and say this is a big expensive thing we have that nobody else has. It's expensive and time-consuming for them to replicate and we also own a lot of IP that they would need.
You and I might know it's bullshit. That's not true of the investment market in general.