Tesla (TSLA) shares surged dramatically in early trading Monday, climbing as much as 8% and officially pushing the electric vehicle maker’s stock into positive territory for the year. The powerful rally was triggered by a significant show of confidence from CEO Elon Musk, who executed his largest personal share purchase since 2020.

According to a company disclosure, Musk acquired approximately 2.6 million Tesla shares last Friday in a transaction valued at roughly $1 billion. This move is being interpreted by the market as a major endorsement of Tesla’s current strategic direction, which is heavily focused on the development of future autonomous technologies. The company is aggressively pursuing its ambitions in robotaxi services and its Optimus humanoid robot project.

This substantial investment arrives shortly after Tesla’s board put forth a new, highly ambitious compensation package for Musk. The proposed ten-year plan, which could be worth nearly $1 trillion, is directly tied to the achievement of extreme growth metrics. These targets include a massive expansion of the company’s market capitalization to $8.5 trillion and the successful scaling of its emerging technology divisions.

The purchase is a notable departure from Musk’s recent activity. Data from Verity indicates that his last acquisition of Tesla stock was a $10 million purchase in early 2020, making this billion-dollar buy his largest ever by value. Prior to this transaction, Musk owned approximately 13% of the company.

This surge provides a welcome reversal for Tesla’s stock, which has faced significant pressure throughout the year from declining sales. Analysts have attributed the sales slump to increased competition, the conclusion of certain federal EV incentives, and concerns that Musk’s external political activities have negatively impacted the brand’s image.