It’s perhaps unsurprising which S&P 500 component was the most vocal about artificial intelligence this earnings season.
That honor belongs to Nvidia Corp. NVDA , which has seen its shares explode 192% higher on the year amid Wall Street’s hunt for AI beneficiaries. The topic of AI came up 104 times on Nvidia’s most recent earnings call, between analyst questions and management commentary, as executives emphasized that the AI rush is set to translate quickly into serious revenue for the company.
Cadence’s April 24 call racked up 66 AI mentions, heavier volume than what was heard on the calls of Alphabet Inc. GOOG GOOGL , Meta Platforms Inc. META or Microsoft Corp. MSFT , companies that likely are more top of mind when investors think about the current AI frenzy. Cadence operates in the field of electronic design automation and helps with software and hardware designs for chips.
Shares of Cadence have risen 47% so far this year and easily outpaced the S&P 500’s 15% increase over that span, though the stock hasn’t seen the same magnitude of gains as Nvidia and Salesforce Inc. CRM , the only two companies that generated more conference-call mentions of AI so far this cycle. “HPE is winning in AI because we deliver an end-to-end portfolio designed for the full spectrum of enterprise AI workloads and use cases, spanning large-scale model development, training and inferencing,” Chief Executive Antonio Neri said. The company’s AI business was one that saw “particularly standout growth” even as it was “somewhat impacted by customer acceptance of certain large deals,” he noted.Behind HPE in terms of AI chatter were Meta , Advanced Micro Devices Inc.
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