Hot chips anyone? 12 things you need to know about NVIDIA

Views 417Mar 6, 2024

1. Nvidia $NVIDIA(NVDA.US)$ shares surged 6.6% after hours, as the chip giant estimated sales will jump 170% this quarter to $16 billion, driven by demand for AI chips. Analysts estimated sales of $12.5 billion for Q3.

2. Nvidia $NVIDIA(NVDA.US)$ just became the first-ever semiconductor company to rack up a $1 trillion market valuation after its shares surged ~229% this year.

3. In Q2 Nvidia's revenue surged 101% YoY to $13.51 billion (vs. $6.70 billion y/y) and it broke past the Bloomberg Consensus estimate of $11.04 billion.

4- Nvidia is a primary supplier of chips that train AI models.

5. "A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI," (Jensen Huang, found/CEO Nvidia).

6. Nvidia's major customers include Dell $Dell Technologies(DELL.US)$, Alphabet$Alphabet-A(GOOGL.US)$, Microsoft $Microsoft(MSFT.US)$, Meta$Meta Platforms(META.US)$, HP $HP Inc(HPQ.US)$, Cisco $Cisco(CSCO.US)$, Oracle $Oracle(ORCL.US)$, Deere$Deere(DE.US)$, Nintendo $NINTENDO CO LTD(NTDOY.US)$, Hyundai Motor$HYUNDAI MOTOR CO GDR EACH REP 1/2 PFD N/VTG(HYMTF.US)$, IBM $IBM Corp(IBM.US)$ and Best Buy $Best Buy(BBY.US)$.

7. Nvidia's significant beat & earnings upgrade report suggests it can sustain its AI dominance amid surging demand.

8. Nvidia approved an additional $25 billion in share buybacks, which should theoretically support share price growth.

9. I think investors have not grasped that the AI chip opportunity is untapped.

10. The majority of AI chips worldwide, are now used in data centers and networks. But, what will happen once technology advances and AI chips go into perhaps all of our technology, including mobiles, tablets, and cars? A new demand stream will be born!

11. AI graphics processing chips are expected to grow at 30% annually to $165bn by 2030 (Global X Estimate). These numbers are too big to ignore.

12. ETFs to watch include; $iShares Semiconductor ETF(SOXX.US)$ , $VanEck Semiconductor ETF(SMH.US)$ and $Spdr Series Trust Spdr S&P Semiconductor Etf(XSD.US)$

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