Nvidia Soars Past $2 Trillion Amid AI Boom; Microsoft and Broadcom Heat Up Competition
May 19, 2024Nvidia's Q1 earnings report has boosted its market value over $2 trillion.
Analysts forecast Nvidia's stock value could exceed $1,000 per share.
Estimated fiscal 2025 revenue for Nvidia is $24 billion.
Nvidia's focus on AI, data centers, and gaming has driven its success.
Microsoft is introducing an AMD AI chip platform at the Build developer conference as an alternative to Nvidia's components.
Microsoft's new AI platform offers powerful AI model options through Azure.
Microsoft is also launching the Cobalt 100 custom processor, which aims for 40% better performance than other technology-based processors.
The Cobalt 100 is aimed at enhancing Microsoft's AI capabilities and competing with Amazon's Graviton CPU.
Cryptocurrencies in the AI sector are gaining traction, with tokens like Render (RNDR) and Origintrail (TRAC) seeing recent increases.
Nvidia and Broadcom have both seen stock gains this week following positive product announcements from OpenAI and Google.
Broadcom is excelling in AI inferencing and positioning itself as a major beneficiary of growing AI usage in consumer products.
Investors are advised to consider owning both Nvidia and Broadcom to capitalize on AI growth.
Summary based on 35 sources
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Sources
Yahoo Finance • May 19, 2024
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