BlackRock Owns Over 7% of Nvidia Stock, Capitalizes on AI Surge
Portfolio Pulse from Anusuya Lahiri
BlackRock, Inc. (NYSE:BLK) has capitalized on the AI-driven surge, owning over 7% of Nvidia Corp's (NASDAQ:NVDA) stock. The firm has declared an overweight position on AI and is selectively investing in tech. BlackRock also prefers U.S. bonds with short maturities as a source of income, expecting the Federal Reserve to increase rates to 5.75%. JP Morgan Chase & Co (NYSE:JPM), Goldman Sachs Group, Inc (NYSE:GS), and Morgan Stanley (NYSE:MS) are also leveraging AI in their operations.
June 28, 2023 | 1:33 pm
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POSITIVE IMPACT
BlackRock's investment in AI and tech could potentially boost its performance.
BlackRock's investment in AI and tech, as well as its ownership of Nvidia stock, could potentially boost its performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs' testing of AI software could potentially boost its performance.
Goldman Sachs' testing of AI software for internal use could potentially boost its performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
JP Morgan's development of AI software could potentially boost its performance.
JP Morgan's development of AI software for selecting customer investments could potentially boost its performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Morgan Stanley's testing of AI software could potentially boost its performance.
Morgan Stanley's testing of AI software for internal use could potentially boost its performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
BlackRock's ownership of over 7% of Nvidia's stock could potentially influence its stock price.
BlackRock's ownership of a significant portion of Nvidia's stock could potentially influence its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80