Former Google CEO Eric Schmidt said in a recent talk at Stanford that tech giants are planning for increasingly large investments into Nvidia-based AI data centers.
He made the remarks in a video this week, that was posted by Stanford but subsequently removed, on the topic of AI.for a decade, told Stanford students that, while he's not one to give investment advice, he sees an obvious play in the stock market that doesn't involve buying shares of his former employer.
Schmidt suggested a huge amount of this spending was going to Nvidia, which makes the dominant data center AI chips, and has already seen revenue increase by more than 200% for three straight quarters. Google has developed chips called"If $300 billion is all going to Nvidia, you know what to do in the stock market," Schmidt said."That's not a stock recommendation." Schmidt didn't say if he owns Nvidia shares.
Schmidt suggested Nvidia won't be the only winner in AI, but there aren't a lot of other obvious choices. He said that he currently believes big companies who can invest more money into Nvidia chips and data centers will gain a technological lead over smaller competitors that can't spend as freely.
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