AI News You Should Not Have Missed

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1. NVIDIA Corporation (NASDAQ:NVDA

Number of Hedge Fund Holders: 179 

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. The stock has been in the spotlight over the past few days after topping analyst expectations on earnings and guidance in the latest quarterly report. This outperformance, coming in the wake of investor concerns around the production ramp for the latest AI chip named Blackwell, outlines the solid demand for non-Blackwell chips that the company markets, the most notable of which is Hopper. Wall Street analysts reiterated their bullish forecasts for the chipmaker following the earnings report, with Daniel Ives from Wedbush leading this charge.

Ives hailed NVIDIA Corporation (NASDAQ:NVDA) as the torch bearer of the AI revolution, with the results and guidance a drop-the-mic moment. Ives, who has been particularly bullish on the company in the past few months, underlined that AI GPU demand was way outstripping supply for NVIDIA at this juncture, and Wall Street should view these results as a very bullish indicator for the broader tech sector with more shock and awe rather than a shrug of the shoulders.

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 but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Michael Burry Is Selling These Stocks and Jim Cramer is Recommending These Stocks.

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