![]() Last week, Nvidia unveiled the H200, a GPU designed for training and deploying the kinds of AI models that are powering the generative AI explosion, allowing companies to develop smarter chatbots and convert simple text into creative graphical designs. "NVDA needs to forcefully counter the narrative its products are too expensive for generative AI inference," the Bank of America analysts wrote. Nvidia is still by far the market leader in GPUs for AI, but high prices are an issue. The company said in June that the MI300X, its most advanced GPU for AI, would start shipping to some customers this year. In particular, the emergence of AMD in the generative AI market presents a new dynamic for Nvidia, which has mostly had the AI graphics processing unit (GPU) market to itself.ĪMD CEO Lisa Su said late last month that the company expects GPU revenue of about $400 million during the fourth quarter, and more than $2 billion in 2024. However, they flagged China restrictions and competitive concerns as two issues that will capture investor attention. They have a buy rating on the stock and said they "expect a beat/raise." "Expectations are high leading into NVDA's FQ3'24 earnings call on Nov-21," Bank of America analysts wrote in a report last week. Any indication on the earnings call that generative AI enthusiasm is cooling, or that some big customers are moving over to AMD's processors, or that China restrictions are having a detrimental effect on the business could spell trouble for a stock that's been on such a tear. Its market cap now sits at $1.2 trillion, well above Meta or Tesla. Nvidia's stock price has ballooned 245% in 2023, far outpacing any other member of the S&P 500. Heading into the Thanksgiving holiday, Wall Street will be closely scrutinizing the company that's been at the heart of this year's artificial intelligence boom. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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