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AI could transform business the way the internet did – or be consigned to the tech graveyard like the Metaverse was. Companies will have a chance to show that their increased spending on AI tech helped them make more money, over the quarter in which ChatGPT fully established itself in the public consciousness. But for every dot-com boom there's so-called "disruptive tech" like crypto or the Metaverse – fads that end up losing companies money, rather than boosting their profits. "But finding companies that can actually make money using this technology is going to be really difficult." In other words, soon companies will have to show that AI can raise their profits like the internet did – or else it'll be consigned to the tech graveyard like the Metaverse was.
Persons: Jensen, Jordan Stuart, Federated Hermes Organizations: Morning, America, Semiconductor, Nvidia, Tesla, Federated Locations: ChatGPT
CNBC's Jim Cramer told investors on Thursday that above all else, they should not underestimate the transformative power of generative artificial intelligence, as it has the potential to revolutionize most industries, from auto manufacturing to fast food. "Tonight, I want to explain why the AI bulls could actually be right," Cramer said. Cramer stressed you should not get bogged down in the ethereal, macro way in which many authorities discuss the potential of AI. Although the industry is not always in the public eye, Cramer told viewers to remember that it is a multitrillion-dollar industry and the biggest one in the world. Fast-food chain Jack In The Box is already using AI in its drive thru locations, which CEO Darin Harris said saves on the cost of employees and actually manages to up-sell more efficiently to customers.
Persons: CNBC's Jim Cramer, Cramer, market's, Adobe's, we're, Jensen Huang's, Darin Harris, it's Organizations: Adobe, BMW Locations: Taiwan
Nvidia CEO and cofounder Jensen Huang's fortune soared by almost $7 billion billion last week to hit nearly $35 billionJensen's Huang net worth surged last week on the back of a boost in Nvidia's stock price. Consequently, Nvidia CEO Jensen Huang's net worth soared by almost $7 billion last week, per Bloomberg Billionaires Index. The stock extended its gains on Friday, sending Huang's net worth to touch nearly $35 billion. Huang owns 86.9 million Nvidia shares, or about 3.5% of the Santa Clara-based chipmaker, per the company's 2023 annual report. So far this year, Huang's net worth has risen by $21.1 billion, per Bloomberg — now making him the 37th richest person in the world.
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Tech stocks rally Micron readthrough Wynn gets a boost 1. Tech stocks rally Stocks rose Wednesday as the banking crisis retreated from the headlines. "I'm glad we're involved in it, and I have no desire to sell" Nvidia stock, Jim added. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
As the engine behind large language models (LLMs) like ChatGPT, Nvidia is finally reaping rewards for its early investment in AI. Nvidia counts on China for about one-quarter of its revenue, including sales of its popular AI chip, the A100. Nvidia Founder and CEO Jensen Huang shows CNBC's Katie Tarasov a Hopper H100 SXM module in Santa Clara, CA, on February 9, 2023. Nvidia founders Curtis Priem, Jensen Huang and Chris Malachowsky pose at the company's Santa Clara, California, headquarters in 2020. "We invented this new way of doing computer graphics, ray tracing, basically simulating the pathways of light and simulate everything with generative AI.
In these tough times, investors would be well advised to find stocks that are positioned to navigate a potential economic downturn. To help with the process, here are five stocks chosen by Wall Street's top professionals, according to TipRanks, a platform that ranks analysts based on their past performance. However, the company issued conservative guidance for fiscal 2023 due to the impact of high inflation on its low-to-moderate income customers. Further, he thinks that Kontoor's fiscal 2023 outlook "will likely prove conservative." Poser raised his fiscal 2023 and 2024 earnings per share estimates, reiterated his buy rating for Kontoor Brands and increased the price target to $60 from $53.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. ET: Jim and Jeff discuss the Club portfolio (Part 1)12:15--1:30 p.m. ET: Jim and Jeff discuss the portfolio (Part 2)2:15-2:45 p.m.
Buy Club holding Ford into any Fed weakness. Barclays downgrades Club holding and Dow stock Cisco Systems (CSCO) to equal weight from overweight (hold from buy). Wells Fargo cuts PT to $75 tom $90 but keeps overweight (buy) rating. However, BofA keeps buy rating on Visa. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Three of our Club holdings — Salesforce (CRM), Nvidia (NVDA) and Qualcomm (QCOM) — will be hosting events this week that we believe have the potential to be catalysts for their stocks. However, it did announce a new $10 billion repurchase program and reiterated a commitment to disciplined margin, cash flow, and revenue growth. Nvidia Nvidia faces a video gaming chip glut and new license requirements that could put China sales at risk. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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