ETF PM first recommended Nvidia (NVDA) in early 2016, and then we quickly “pounded the table” to buy more. Although Nvidia is now up 228% over the past 12-months, we still believe leading AI growth stocks are just getting started.
Deep learning is reportedly set to revolutionize the military, and Amazon recently made their first autonomous airborne drone delivery. There are also many signs that cognitive artificial intelligence will replace employees quickly, and the “frenzy over self-driving cars is palpable.”
ETF PM currently has long positions in NVDA, AMD, SMH, and SOXL.
Nvidia hits prime time at CES this year
Matthew Lynley, 1/5/17
What do you do when you rapidly become one of the most important chip manufacturers in the world and your stock price more than triples in a single year? For Nvidia, it means you throw a massive keynote stuffed with announcements that are setting the stage for a suite of products built around your core technology — building GPUs — that will make you the center of the conversation around artificial intelligence.
Nvidia has become the beneficiary of a major shift in the computational requirements for artificial intelligence and deep learning, which depend on GPUs and alternative processors to handle a different style of tasks. That technology is needed for anything from sifting through massive data piles to improving machine learning to power the sensing technology necessary for self-driving cars. And it means Nvidia has, along with Amazon, become a centerpiece of the technology industry in the span of a year or so — and at CES this year.
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