Baron Capital founder Ron Baron told CNBC on Wednesday that now is the moment to buy Tesla stock, pointing to the carmaker’s self-driving software as the next driver of its share price.

His firm holds roughly $5 billion in Tesla shares and about $25 billion in SpaceX, making it one of the largest outside backers of Elon Musk’s companies.

Baron Points to Self-Driving Uptake and Rising Market Share

Baron said Tesla’s Full Self-Driving system, the paid software that steers the car while a driver stays in the seat, is spreading quickly. He put growth at 55% a year.

Tesla’s own second-quarter figures, however, are narrower. It reported 1.48 million active FSD subscriptions, up 56% in a year, with 55% of new North American deliveries…