NVIDIA Corporation (NVDA) CEO Jensen Huang Confirms Design FlawCaused Delays in Blackwell AI Chip Production, Set for Fourth Quarter Shipping
The AI Revolution: Where NVIDIA corporation (NASDAQ:NVDA) Stands Among the tOP AI Stocks
As the year 2024 continues to unfold, the field of artificial intelligence (AI) has witnessed significant breakthroughs, with generative AI being the most prominent trend.
According to a recent report by McKinsey, generative AI has the potential to add $2.6 trillion to $4.4 trillion in value across industries annually, based on 63 use cases analyzed. The AI revolution has been gaining momentum, with major tech giants launching their own chatbot-based assistants, AI-enabled phones, and more.
As AI continues to transform industries and push technological boundaries, regulators are starting to catch up with developers working on their next big AI projects. In an interview with Yahoo Finance's Catalysts, Credo AI Founder and CEO Navrina Singh emphasized the importance of governance in AI development, stating that companies that start with emerging technologies like AI with the right guardrails in place will eventually end up being "long-term winners."
The AI frenzy continues to intensify, with the world's largest ⇪ management firm× launching a new AI-focused exchange-traded fund (ETF) on October 22. The ETF will hold a concentrated portfolio of around 30 to 40 stocks, with new winners to be added as they emerge.
NVIDIA Corporation (NASDAQ:NVDA) - A Leader in AI Development
NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company that engineers the most advanced chips, systems, and software for the AI factories of the future. The company's advanced Graphic Processing Units (GPUs) specialize in supercomputing capabilities, supporting generative AI training. In March, NVIDIA Corporation (NASDAQ:NVDA) announced its most powerful Blackwell chips, capable of processing trillion-parameter AI models up to 30 times faster and using one-fourth of power.
However, the company faced production and shipping delays due to a design flaw with its latest Blackwell AI chips. CEO Jensen Huang revealed that the design flaw was 100% NVIDIA's fault and has nOW been fixed. The chipmaker worked with its partner, Taiwan semiconductor, to resolve the holdup, and the chips will NOW ship in the fourth quarter.
Why NVIDIA Corporation (NASDAQ:NVDA) Ranks 5th on Our List
While NVIDIA Corporation (NASDAQ:NVDA) is a leader in AI development, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVDA but trades at less than 5 times its earnings, check out our report on the cheapest AI stock.
Key Takeaways
Conclusion
The AI revolution is gaining momentum, with generative AI being the most prominent trend. Regulators are starting to catch up with developers working on their next big AI projects. NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company that engineers the most advanced chips, systems, and software for the AI factories of the future. While the company faces challenges, its advanced GPUs specialize in supercomputing capabilities, supporting generative AI training.
As investors, it's essential to stay informed about the latest developments in the AI space and to consider the potential risks and rewards of investing in AI stocks. Our research has shown that imitating the top stock picks of the best hedge funds can outperform the market, and we believe that NVIDIA Corporation (NASDAQ:NVDA) is a stock worth considering.
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