As another week wraps up, the tech world remains abuzz with developments in artificial intelligence (AI). Dominating the headlines is Nvidia Corp. NVDA, with analysts predicting a bright future for the company’s AI ventures. Meanwhile, tech moguls like Elon Musk and Michael Dell share their thoughts on the rapid evolution of AI. Here’s a quick round-up of the top stories.
Nvidia’s AI Party Just Getting Started
Despite Nvidia’s recent rise to become the world’s largest company, surpassing Microsoft Corp. MSFT, Bank of America equity analyst Vivek Arya maintains a positive outlook on the chipmaker. Arya believes that while Nvidia’s sharp rise might prompt short-term profit-taking, any resulting volatility is likely to be short-lived due to the company’s robust fundamentals and attractive valuations. Read the full article here.
Nvidia CEO’s Advice to Graduates
Jensen Huang, CEO of Nvidia, recently encouraged Caltech graduates to seek out untapped markets and view setbacks as growth opportunities. Speaking at the Caltech graduation ceremony, Huang shared his experiences in the tech industry, emphasizing the importance of identifying and investing in “zero-billion-dollar markets,” which have the potential to become billion-dollar industries in the future. Read the full article here.
Nvidia Shorts Down Big
Despite a recent pullback, investors betting against Nvidia over the last year or year-to-date in 2024 are down big. A recent Nvidia stock split has increased the number of shares outstanding of the semiconductor giant, potentially preventing a short squeeze in the stock. Read the full article here.
Musk Praises AI Godfather
Elon Musk, CEO of Tesla Inc. TSLA, recently shared a snippet of an interview with Geoffrey Hinton, known as the “Godfather of AI,” praising him for his superior intellect and shared concerns about AI's potential to outsmart humans. Hinton has been vocal about the need for the tech industry to invest significantly in addressing the potential threat of AI surpassing human intelligence. Read the full article here.
Michael Dell on AI’s Rapid Rise
Michael Dell, CEO of Dell Inc. DELL, compared the impact of generative AI to other significant technological advancements, suggesting that AI’s adoption is happening at a much faster pace than the internet’s rise in the mid-1990s. Read the full article here.
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Rounak Jain
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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