Hold Your Breath, Tech World: Nvidia's GTC 2024 Set To 'Launch Next Phase Of AI Revolution' — Wedbush's Ives Reveals What's At Stake
Portfolio Pulse from Shanthi Rexaline
Ahead of Nvidia's GTC 2024 keynote, Wedbush analyst Daniel Ives predicts a significant week for tech, highlighting Nvidia's role in launching the next phase of the AI revolution. The conference, referred to as the 'AI Woodstock,' is expected to showcase new products, use cases, and partnerships. Ives emphasizes the trillion-dollar AI spending wave led by Nvidia's chips, with a focus on the new Blackwell B100 chip. The demand for AI, driven by major tech companies like Microsoft, Google, Amazon, Oracle, and Meta, underscores Nvidia's leadership in AI innovation. Nvidia's stock has seen a 73% surge this year, ranking it third in market cap behind Microsoft and Apple.
March 18, 2024 | 4:52 am
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Nvidia's GTC 2024 is anticipated to be a pivotal event for the tech industry, with the company expected to unveil new AI products and partnerships. Analyst Daniel Ives predicts this will trigger a trillion-dollar AI spending wave, highlighting Nvidia's leadership in AI. The company's stock has already seen a significant surge, and the event could further boost investor confidence.
Nvidia's leadership in AI and the anticipation surrounding the GTC 2024, especially the Blackwell B100 chip, positions the company for further growth. The analyst's prediction of a trillion-dollar AI spending wave, with Nvidia leading, suggests a positive short-term impact on NVDA's stock price. The company's recent performance and the industry's focus on AI spending underscore the potential for continued upward momentum.
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