NVIDIA Corporation (NVDA) shares have nearly tripled year-to-date, driven by unprecedented growth in demand for its data center chips. The Baron Opportunity Fund highlighted NVIDIA as a leading semiconductor company that sells chips and software for accelerated computing and gaming. NVIDIA reported revenue of $13.5 billion in the second quarter and guided for another increase in the third quarter to $16 billion. The company is at the forefront of a new era of computing, with its CEO stating that the world is transitioning from general-purpose computing to accelerated computing and generative AI. NVIDIA is currently in the 17th position on the list of 30 most popular stocks among hedge funds.
Nvidia stunned Wall Street with a forecast of $16 billion in revenue for the current quarter, driven by the surge in demand for its data-center chips that power artificial intelligence applications. This projection, almost double its previous top-line record, may not even be the company's peak, as it has visibility into strong orders through 2024. Nvidia's decades of work in accelerated computing and AI are paying off, and it believes its end-to-end data-center solution is not easily replicable. While there are concerns about sustainability and competition, Nvidia remains confident in the long-term industry transition towards accelerated computing and generative AI.
Intel's stock has surged more than 20% in March, its best month since 2001, after the company announced that its next-generation data-center chips will be ready sooner than expected. Investors are optimistic about the technology giant's future prospects.
Intel's stock has surged more than 20% in March, its best month since 2001, after the company announced that its next-generation data-center chips will be ready sooner than expected. Investors are optimistic about the technology giant's future prospects.
