The market cap does not inherently increase according to the dollar amount you raised. Good point. It all comes down to the (perceived) return on investment th

The market cap does not inherently increase according to the dollar amount you raised. Good point. It all comes down to the (perceived) return on investment that a company can get using its cash. In cases where companies are selling stock to raise cash it's usually perceived that the company will be able to get a decent ROI. So in most cases where a company raises cash (through funding or sale of stock) their market value will stay constant or increase. This is Tesla's situation. In contrast Apple/Google/Cisco have shown very little ability to get a high return on investment on any additional cash, because they already have so much. This ROI is perceived by investors to be lower than what the investors could get on their own, which is why the cash is discounted.