Are you green with envy about Nvidia stock? If so, it is not too late to buy:
To be sure, AI has long been plagued by high expectations that were not realized. I experienced this in a startup launched decades ago that aimed to use expert systems to supply personal financial planning services. Sadly, the value of this technology for personal financial planners was not worth the cost of the AI., generative AI ended 2022 as a nearly $11 billion market and it’s expected to grow at a 31% compound average annual rate to $152 billion in 2032.
Nvidia is prepared to supply those AI chips. As Nvidia CFO Colette Kress told investors on the earnings call, “This demand has extended our data center visibility out a few quarters and we have procured substantially higher supply for the second half of the year.” Meanwhile, operators of big data centers are retooling their computing infrastructure to capture AI’s growth opportunities.
Nevertheless, I see a compelling bull case for Nvidia profiting from generative AI. Geoff Blaber, chief executive of tech consultancy CCS Insight, told thechips and related software tools are the picks and shovels of a generational shift in AI. Blaber said Nvidia leads the AI chip industry due to its “comprehensive toolchain that no other company” can match.
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