Reported 5 months ago
Despite high hopes for Nvidia's earnings boosting markets, the Dow Jones Industrial Average (^DJI) suffered its largest drop in over a year before slightly recovering. UBS Asset Management Senior Portfolio Manager Michael Nell suggests that although Nvidia leads in AI processing, competition is increasing, with companies like AMD and Intel challenging Nvidia's CUDA platform. Nell cautions investors to prioritize areas where AI has already shown results, such as social media ad targeting and search, rather than focusing on theoretical use cases. The hype around AI is seen as speculative, but not as exaggerated as the internet bubble, and Nell advises concentrating on 'picks and shovels' in the semiconductor industry and proven AI applications for investment.
Source: YAHOO