As Michael MacGillivray saw artificial intelligence becoming more ubiquitous in everyday life, the 25-year-old wanted his investments to reflect that. It didn’t take long to figure out how he wanted to play the trend. “Whenever you look at AI, it’s like, all the roads lead to Nvidia,” said MacGillivray, who’s spent thousands of dollars on shares this year from his home in Michigan. “It definitely was a great investment.
Even as Nvidia continued beating Wall Street expectations for earnings, it wasn’t exceeding estimates by enough to continue the stock’s rapid price growth, Luria said. Now, he said the stock has come to more “balanced” and “reasonable” levels. Despite this recent volatility, individual investors such as Prajeet Tripathy remain optimistic over the company’s leadership within AI and focus on innovation.