Chanticleer
As Nvidia explodes, this may be the way to play AI on the ASX
The ASX has few direct links to the AI boom, but investors should think about which local stocks are best placed to lead the race to adoption.
If there wasn’t a whiff of irrational exuberance about the artificial intelligence boom before, there was after the stunning surge in Nvidia and its fellow Magnificent Seven tech stocks on Thursday night (Friday AEDT).
Nvidia’s December quarter earnings report, delivered after Wall Street closed on Wednesday night (Thursday AEDT), was even better than the market expected: revenue more than tripled to $US22.1 billion ($33.7 billion), earnings came in about 12 per cent ahead of market and guidance for sales of $US24 billion in the March quarter blew past analyst expectations.
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