Nvidia Led the Market Higher in the First Half of 2024, but Another "Magnificent Seven" Stock Is Poised to Power the Market in the Second Half
Why is Alphabet considered a strong candidate for market leadership?
Alphabet is considered a strong candidate for market leadership due to its AI advancements, potential growth in its cloud segment, and its cheap valuation compared to other tech giants. Additionally, its testing of new AI-powered ad formats presents a significant upside in monetization opportunities.
How have Nvidia's GPUs contributed to AI infrastructure?
Nvidia's GPUs have significantly contributed to AI infrastructure by providing high-performance computing power for AI training and inference. Their parallel processing capabilities and energy efficiency have made them a crucial component in accelerating machine learning workloads and advancing AI technology across various industries.
How much did Nvidia's stock increase in the first half of 2024?
Nvidia's stock increased by 150% in the first half of 2024, significantly outpacing the S&P 500's 15% increase3. This growth was driven by the company's dominance in the AI chip market and its ability to meet high investor expectations.