Analyst calls Nvidia ‘no brainer’ as tech spending on AI is ‘crazy’

[Pelican Press 0]

Analyst calls Nvidia ‘no brainer’ as tech spending on AI is ‘crazy’

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and Meta this year alone,” he said. Nvidia has climbed almost 76% in 2024 though Monday morning as investor enthusiasm for AI continued, after more than tripling in 2023. The stock has pulled back almost 4% in April. Nvidia posted rapid revenue growth in its most recent quarterly results released in mid-February, issuing higher-than-expected forward guidance for first-quarter earnings due on May 22. But Reitzes posits that Nvidia has plenty of runway to expand further, boosted by the company’s recently unveiled Blackwell, its latest AI GPU. “While H100’s are still selling well, we are encouraged by Nvidia’s Blackwell line, which includes richly configured systems. We believe that its share of inferencing will be higher than expected since its performance is unmatched,” the analyst said. — CNBC’s Michael Bloom contributed to this report.

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Investment strategy,Markets,NVIDIA Corp,business news
#Analyst #calls #Nvidia #brainer #tech #spending #crazy

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