Though investors hoped Nvidia's (NVDA) earnings would substantially boost markets, the Dow Jones Industrial Average (^DJI) experienced its biggest decline in over a year, recovering slightly Friday morning. UBS Asset Management Senior Portfolio Manager Michael Nell joins the Morning Brief to discuss what the hype surrounding Nvidia and other chip names signals for the broader market.
Nell claims Nvidia is the "leader" in AI processing, but many other companies are "coming after them." AMD (AMD) and Intel (INTC), for instance, are pushing clients to migrate from CUDA, Nvidia's proprietary computing platform, to open or third-party interfaces, he says.
The strategist adds that AI hype mostly concerns "use cases," or theoretical applications. Though the AI moment is not as exaggerated as the internet bubble, Nell recommends that investors focus on areas where AI has "already proven itself," like social media ad targeting and search.
#youtube #AI #STOCKMARKET
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