15 AI News Updates Wall Street Is Monitoring

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1. NVIDIA Corporation (NASDAQ:NVDA

Market Capitalization: $3.6 Trillion 

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. Masayoshi Son, the Japanese billionaire technology entrepreneur, investor and philanthropist, recently gave an interview to American news platform CNN where he talked about the AI industry. Son opined that the ongoing spending trends in artificial intelligence would only accelerate in the years ahead, benefiting NVIDIA and its GPU chip business, which has been the driving force behind most AI advancements. He also said he thought NVIDIA was still undervalued because the future was much bigger. Son also predicted that AI superintelligence, the next step after AI, would require upwards of 200 million GPU chips and $9 trillion in total capex spending by companies.

While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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