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I’m Buying Nvidia Ahead of Aug. 26 Earnings Exactly For The Reason You Think
['Alex Sirois']
24/7 Wall St.
I keep buying NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) shares, and the Aug. 26 earnings report is another reason to keep going.
Microsoft, Meta, Alphabet, and Amazon collectively guided to over $200 billion in AI infrastructure spend, and Nvidia commands over 80% market share in high-end AI accelerators.
Data Center revenue alone was $75.246 billion, up 92% YoY, with networking up 199%.
AMD’s MI-series is a real product, and it competes without the CUDA software lock-in or NVLink networking that let Nvidia’s Data Center Compute grow 77% YoY.
Amazon (NASDAQ:AMZN) has Trainium as a multibillion-dollar business now, and Nvidia’s Data Center Compute still grew 77% YoY right through it.