Nvidia results showing that customers are binging on chips used in artificial intelligence computing sent a complex of stocks tied to the burgeoning technology soaring.
I believe many of you are familiar with the AI theme this year. Without doubt, Artificial intelligence (AI) stocks have taken the stock market by storm as investors, CEOs, and pundits all seem convinced that AI, in particular generative AI, will be the next major transformative technology. Nvidia has been the biggest winner this year, as the chip maker sells the building blocks to run complex large language models, and its chips have been in high demand from cloud infrastructure operators like Amazon, Microsoft, and others, leading to soaring revenue and profits. While artificial intelligence (AI) applications have been in development for decades, 2023 will likely go down as a breakthrough year for the technology. It's certainly been a breakout year for AI stocks. The excitement surro
As affected by the world market weak sentiment and correction, most stocks including AI related counters mostly retraced over the past weeks. NVDA We cannot deny that the destiny of AI stocks are mainly depend on NVDA incoming earnings release and prospect. We got a big expectation from everyone since previous quarter forecast. Let's see how the things go. Will it be another surprise for us? Technically, the chart shows strong rebound for this week, yesterday candle might be a peak signal, open high and close low, but then the red candle still within the half body of the previous green candle, which is not too bad. I believe $NVIDIA Corp(NVDA)$ another spike will happen if the earnings call shows positive
🎁$TSLA Robot Will Shine on 2023 WAIC? Share Your Thoughts on AI!
1. The 2023 World Artificial Intelligence Conference will be held in Shanghai, China from July 6th to 8thIt is reported that this year's World Artificial Intelligence Conference focuses on the frontiers of science and industrial development, will e three major topics of technology, industry, and humanities, focusing on large-scale communication models, smart chips, scientific intelligence, robots, brain-like intelligence, metaverse, autonomous driving, and data. Top ten frontier trends such as forums, rule of law and security, and blockchain.It is reported that more than 20 intelligent robots, including $Tesla Motors(TSLA)$ humanoid robots, will appear at the 2023 World Artificial Intelligence Conference.Shanghai gets ready for the 2023 World Arti
Oracle sets a new high, Q4 earnings indicates AI opportunities.
$Oracle(ORCL)$ stock reached a new all-time high after the Q4 financial report released on June 12th. It is evident that the recent AI concepts have made the company a highly sought-after target. The outstanding performance of the cloud business has greatly surpassed expectations in terms of revenue and profit. The development of AI is also reliant on software services, which will continue to contribute to the company's growth, generating high expectations among investors.Over the past 20 days, the company's stock has already risen by over 30%. On June 12th, it performed exceptionally well during trading hours (+6.0%), and remained optimistic after the post-report announcement (+3.9%), although there was no double-digit increase.Q4 Performance Ove
Not AI-Driven? CRM's safe outlook makes valuation more attractive
$Salesforce.com(CRM)$ reported earnings last quarter that significantly exceeded expectations, and the stock price surged without a significant pullback. We mentioned last quarter that CRM still had a potential upside of 66%.Before the announcement of Q1 FY24 earnings, the market remained relatively optimistic about CRM's performance. Q1 expectations were high, and there was optimism regarding the performance outlook driven by AI. The secondary market price also exceeded $220 before the earnings release.However, CRM's executives did not intend to oversell expectations. Although the Q1 earnings results still surpassed expectations overall, the outlook for the future was not overly opt
Because it is not an AI company. $C3.ai, Inc.(AI)$ nnounced its Q4 results for the 23 fiscal year ending on May 31 after market close.Revenue was $72.4 million, higher than expected at $71.37 million, with adjusted loss per share of $0.13, better than expected loss of $0.17 per share. Subscription revenue was $560 thousand, accounting for 79% of total revenue.Non-GAAP gross profit was $530 thousand and non-GAAP gross margin was 9%.GAAP remaining performance obligations ("RPO") were $381 million, lower than expected at $405 million.For Q1 FY2024 outlook, revenue is projected to be between US$70-72 million which is basically in line with market expectations of US$71.34m; Non-GAAP losses are estimated to be between US$25-30m;For the overall outlook FY2
AI Surge Ignites Tech Stocks, Propelling Unprecedented Growth The COVID-19 pandemic was undoubtedly challenging for the tech sector and chip manufacturers. However, the emergence of artificial intelligence (AI) has brought about a remarkable turnaround and unprecedented growth. AI is not just a part of the tech industry; it is becoming the tech industry itself. Among the companies benefitting the most from this AI surge is NVIDIA, the leading industrial-grade graphic processing hardware manufacturer. Despite facing significant setbacks, including political conflicts and the chip crisis, NVIDIA has experienced an impressive recovery, with its stock price surging by 166% in just five months. Other AI hardware manufacturers are also capitalising on this trend. Advanced Micro Devices Inc. (AMD
Not Just Nvidia: These Are the Other Big Winners in the AI Chip Biz
COVID-19 was hell for tech stock and chip manufacturers. But AI has now flipped the script. Here are