Nvidia Benefit From Software House Spend On Generative AI Advancement
$Salesforce (CRM.US)$ is making a significant move by planning to hire 1,000 new employees to advance its generative AI platform, Agentforce. This expansion aims to capitalize on the growth of AI agents capable of autonomous business operations.
This development follows Salesforce's partnership with Google Cloud (GOOGL) and Nvidia (NVDA) to enhance these capabilities. Salesforce shares saw a 3.5% increase, reflecting investor optimism about the potential multi-billion dollar opportunity this new platform represents.
I am holding my position for Nvidia as I believe NVDA is going to benefit from this advancing.
This move would likely going to benefit Alphabet and Nvidia stocks as they would be spending more in their advancing of Salesforce generative AI platform. If we looked at how CRM have been performing from the technical (MACD and MTF), there is so much potential upside and it is currently in a strong uptrend. This should put CRM in a good position as they continued to build on advancing their generative AI platform to make a differential on the AI software space.
$NVIDIA (NVDA.US)$ chips demand would be increasing as we know that generative AI advancing would require more processing power, this would see more buying of NVDA chips to help run the workload for CRM, and NVDA has been showing strong MTF uptrend, and there is a bullish MACD crossover formed.
$Alphabet-A (GOOGL.US)$ would be also spending more on acquiring more chips for their new data center and also to service customers like CRM, the software house, as the AI adoption are moving into these large software houses.
So I am expecting NVDA to make a move above $150 this week. I am holding my position on NVDA as I am expecting NVDA to cross $180 by end of 2024.
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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