*CATHIE WOOD SAYS NVIDIA TOO EXPENSIVE, TESLA TO BENEFIT FROM AI BOOM $NVDA $TSLA
In a series of tweets, Wood balked at Nvidia’s target of a 25 times sales jump for 2023, and that other players would likely benefit more from a coming AI boom.is the “most obvious” beneficiary of recent AI advancements, Wood said, citing the firm’s push towards autonomous driving technology.
“In our view, $TSLA - at 6X revenues - is the most obvious beneficiary of the recent breakthroughs in #AI, as it aims for an $8-10 trillion revenue TAM in autonomous mobility by 2030,” Wood said in a Twitter thread. Wood’s comments come on the heels of a sharp rally in Nvidia shares over the past week, which made the firm the world’s most valuable chipmaker and on course to log a $1 trillion valuation., which Nvidia linked to increased interest in AI. The chipmaker also forecast strong sales and demand for the year, citing rapidly increasing interest in AI development. The rally brought Nvidia’s annual gains to about 167% for the year.
Gains in Nvidia spilled over into most other chipmaking stocks, triggering sharp rallies in its Asian suppliers, specifically
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