300 Billion Reasons to Buy Nvidia Stock Now
Nvidia (NASDAQ: NVDA) stock has pulled back from its peak in June as the stock market seems to be debating the future of the AI boom.
Some investors think the rally overheated as the new technology has yet to produce a "killer app" or make any major disruptions in the economy. There was evidence of this when Alphabet and Microsoft stocks both pulled back following their recent earnings reports as investors questioned the level of spending on AI infrastructure and wondered if those tech giants would get a return on those investments.
However, there are plenty of AI bulls remaining, and among them is former Google CEO Eric Schmidt. In a recent conversation at Stanford University, Schmidt commented on the evolution of artificial intelligence, saying that companies were planning to spend tens of billions of dollars or even hundreds of billions of dollars on AI infrastructure. Microsoft and OpenAI, for example, are planning for a massive data center and supercomputer project, known as Stargate AI, that could cost as much as $100 billion.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 109 Buy predictions and 2 Sell predictions.
With a target price of 426 € there is a slightly positive potential of 12.22% for Microsoft Corp. compared to the current price of 379.6 €.
