Market Overview

What's Up With Nvidia?

Share:
What's Up With Nvidia?

Shares of NVIDIA Corporation (NASDAQ: NVDA) were under selling pressure Tuesday morning, likely in reaction to cautionary comments from a notable Silicon Valley investor.

The Expert

Chamath Palihapitiya, founder of The Social+Capital Partnership.

The Thesis

Palihapitiya began his venture capitalist career while he was a Facebook Inc (NASDAQ: FB) executive and working on deals on the side. As one of the more notable figures within Silicon Valley, investors tend to pay attention to what he has to say, especially when it comes to technology companies.

While speaking as a guest on CNBC's "Squawk Box" segment Tuesday, he offered some cautious comments on Nvidia. He suggested that in the not-too-distant future, Nvidia won't be the lone tech giant "hyper-scaler" that is heavily investing in artificial intelligence technologies.

Price Action

Shares of Nvidia were trading lower by around 1.5 percent at $191.72 . The stock is still higher by 80 percent in 2017 on top of a triple-digit return in 2016.

Nvidia's stock has become one of the more hotly debated bull versus bear stocks with Palihapitiya's comments not exactly supporting either side, but perhaps casting some doubt if Nvidia's stock will continue outperforming the broader technology index by a notable margin in 2018.

Related Links:

The Current Bull And Bear Case For Nvidia

Tesla Developing Its Own AI Chip, Analyst Says Chipmakers Could Gain Manufacturing Contracts

Posted-In: artificial intelligence Chamath Palihapitiya CNBC CNBCTop Stories Tech Media Trading Ideas Best of Benzinga

 

Related Articles (NVDA + FB)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Bitcoin Will Reach $1 Million Per Coin, Says Social Capital Founder

Argus Gives Medtronic Improved Prognosis, Expects Nearly 10% Future Growth