News Formal

Analyst says buying Nvidia is 'no brainer' as tech companies 'spend like crazy' in AI race

  • 📰 CNBC
  • ⏱ Reading Time:
  • 18 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Investment Strategy News

Markets,NVIDIA Corp,Business News

Looking ahead, the Nvidia investment thesis is undiminished, according to Melius Research.

Nvidia is proving itself to be a key beneficiary as technology companies "spend like crazy" to take advantage of artificial intelligence, according to Melius Research. "Sometimes a no brainer is a no brainer," analyst Ben Reitzes wrote on Monday.

mountain Nvidia stock. "he big clouds are going to have to spend their share on Nvidia, up to 25% of Capex for Microsoft and Meta this year alone," he said. Nvidia has climbed almost 76% in 2024 through Monday morning as investor enthusiasm for AI continued, after more than tripling in 2023. The stock has pulled back almost 4% in April.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analyst says buying Nvidia is 'no brainer' as tech companies 'spend like crazy' in AI raceLooking ahead, the Nvidia investment thesis is undiminished, according to Melius Research.
Source: CNBC - 🏆 12. / 72 Read more »