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Expect big news from Nvidia next week.
Nvidia is expected to reveal details of the next generation AI chip.
It’s codenamed “Blackwell.” And it’s 40% faster than Nvidia’s current chips.
AI Predicts Major Move for NVDA
Over 16,000 people are expected to attend Nvidia’s developers conference in San Jose next week.
You can expect to hear of new partnerships with Oracle, Microsoft and other tech giants.
It’s also a chance for Nvidia to share its outlook for the AI revolution.
CEO Jensen Huang believes that $1 – $2 trillion will be spent upgrading tech infrastructure for AI applications.
That translates into $250 – $500 billion annually – over the next 3 to 5 years.
Nvidia is the #1 benefactor of this explosive growth.
Just look at this year’s estimates…
- Sales jump 82% to $110 billion
- EPS soars 90% to $24.66
NVDA shares have pulled back from their all-time highs.
The stock is trading at $879 this morning.
That gives the stock a P/E multiple of 35.
Nvidia is a “must own” stock for the AI revolution.
Now, I hope you joined me and bought shares in December. Back then shares were trading below $500.
The stock is now up 83% YTD.
Use any temporary pullback in the stock to add to your position.
Ian