Accelerated computing and artificial intelligence stock Nvidia Corp NVDA has surged over 171% in the past year.
Gil Luria of DA Davidson noted Nvidia’s reliance on key customers like Microsoft Corp MSFT, Meta Platforms Inc META, Amazon.Com Inc AMZN, and Alphabet Inc GOOG, GOOGL who are exploring in-house chip developments.
Analysts caution about the hype around AI, questioning the sustainability of investment due to delays in product releases like Blackwell GPUs from Nvidia.
The AI trend is driving companies to cater to various industries from gaming to data centers and automotive.
Cerebras Systems Inc has filed for an IPO with a system that rivals Nvidia, reporting significant revenue growth and a potential valuation of $7-8 billion.
In China, Huawei Technologies is supplying AI processor samples to Chinese hyperscalars amid trade tensions with the US.
Price Action: NVDA stock is down 1.19% at $120.01 as of the last check.
