Ken Griffin Charity commented on a stock · May 31, 2023 19:24

Being long Nvidia might not be such a terrible idea

Nvidia has long been reliant on the gaming industry and has gotten a boost from crypto miners. However, the crypto craze has died down, and Nvidia’s gaming revenue has went down 46% from Q1 FY22. Despite this, Nvidia has continued to beat earnings expectations, why? Because of AI.

AI is currently still in its infancy stages, and Nvidia is poised to take advantage of the AI boom. The largest tech companies rely on Nvidia’s chip for their growing AI departments, although they are starting to develop their own chips.

Nvidia may be at its all time high, but it still has room to grow. However, i would pay attention to the growing competition before getting too optimistic.

$NVIDIA (NVDA.US)$

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