After Nvidia's Blowout Quarter, Wedbush Analyst Dan Ives Says AI Revolution Will Lead To Trillion-Dollar Valuations In Tech: 'The Party's Just Getting Started'
Portfolio Pulse from Ananya Gairola
Wedbush analyst Dan Ives predicts a significant transformation in the tech industry following Nvidia's impressive quarterly results, suggesting potential trillion-dollar valuations driven by AI advancements. Nvidia reported a 427% growth in its data center business, leading to a historic rally.
May 23, 2024 | 1:37 am
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Nvidia reported a 427% growth in its data center business, leading to a historic rally. The company announced a 10-for-1 stock split and increased its quarterly dividend by 150%. Analyst Dan Ives predicts continued growth driven by AI advancements.
Nvidia's impressive quarterly results and significant growth in its data center business, coupled with a stock split and dividend increase, are likely to positively impact its stock price in the short term. Analyst Dan Ives' bullish prediction further supports this outlook.
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