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☆ Cracks are forming in the auto industry, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCracks are forming in the auto industry, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein Research managing direction and senior analyst, joins 'Closing Bell' to discuss the semiconductor industry outlook ahead of earnings, cracks in the autos industry, and more.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon Organizations: Bernstein Research

CEO Sam Altman has made the acquisition of more AI chips a top priority for the company. Meta's (META.O) custom chip effort has been beset with issues, leading the company to scrap some of its AI chips, according to a Reuters report. OpenAI's main backer, Microsoft (MSFT.O), is also developing a custom AI chip that OpenAI is testing, The Information has reported. Demand for specialized AI chips has soared since the launch of ChatGPT last year. Nvidia is one of the few chipmakers that produces useful AI chips and dominates the market.

Persons: Dado Ruvic, OpenAI, Sam Altman, Altman, Bernstein, Stacy Rasgon, Anna Tong, Stephen Nellis, Max A, Kenneth Li, Stephen Coates 私 Organizations: REUTERS, FRANCISCO, Reuters, Nvidia, Microsoft, Google, Amazon.com, Annapurna Labs, Devices Locations: WASHINGTON, San Francisco

☆ ChatGPT-owner OpenAI is exploring making its own AI chips
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +4 min

However, since at least last year it discussed various options to solve the shortage of expensive AI chips that OpenAI relies on, according to people familiar with the matter. Meta 's custom chip effort has been beset with issues, leading the company to scrap some of its AI chips, according to a Reuters report. OpenAI's main backer, Microsoft, is also developing a custom AI chip that OpenAI is testing, The Information has reported. Demand for specialized AI chips has soared since the launch of ChatGPT last year. Nvidia is one of the few chipmakers that produces useful AI chips and dominates the market.

Persons: Sam Altman, Altman, OpenAI, Bernstein, Stacy Rasgon, Meta Organizations: Reuters, Nvidia, OpenAI, Microsoft, Amazon.com, Annapurna Labs, Devices

☆ Wall Street analyst defends Nvidia from 'Twitter randos' spreading bearish conspiracy theory
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

A conspiracy theory surrounding Nvidia has made the rounds on social media, and a Wall Street firm is having none of it. Bernstein debunked the baseless theory that CoreWeave is a shell company driving much of Nvidia's recent growth. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. And while Nvidia did buy a stake in CoreWeave, it also invested in 10 other AI startups so far this year. He reiterated his "Outperform" rating on Nvidia with a $675 price target, representing potential upside of 46% from current levels.

Persons: Bernstein, Stacy Rasgon, CoreWeave, Rasgon Organizations: Nvidia, Service, Twitter, Magnetar Capital, Blackstone, Blackrock, NVIDIA, Cloud Service Providers Locations: Wall, Silicon, CoreWeave, Texas, FQ2

☆ Qualcomm focuses on AI and auto as Nvidia takes over as world’s biggest fabless chip company
▼ + stars: | 2023-09-05 | by ( Katie Tarasov | ) www.cnbc.com time to read: +7 min

Until last month, Qualcomm was also the world's biggest fabless chip company. But Qualcomm CEO Cristiano Amon is betting that one day, generative AI will be in high demand off the cloud, too. Qualcomm modems are inside all iPhone models currently being made, including the next model set to come out next week. Today, Qualcomm has more than 140,000 patents. The other lawsuit came from Apple, which sued Qualcomm for roughly $1 billion for charging royalties for technologies Apple said Qualcomm had "nothing to do with."

Persons: Cristiano Amon, Amon, Chris Patrick, Irwin Jacobs, Jacobs, Nobody, Jay Goldberg, Patrick, it's, Daniel Newman, Newman, It's, Donald Trump, Stacy Rasgon, Qualcomm's Amon, CNBC it's Organizations: Qualcomm, Nvidia, Amazon Web Services, CNBC, Apple, Quality Communications, D2D, Futurum, Federal Trade Commission, Broadcom, Bernstein Research, GM, BMW, Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: San Diego, China, Taiwan, Asia, That's, U.S, Arizona

☆ Bernstein downgrades this struggling chipmaker poised to fall 15%
▼ + stars: | 2023-08-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Analyst Stacy Rasgon downgraded shares to underperform from market perform. He maintained his price target of $145, which implies 15% downside from Tuesday's close. Rasgon cited concerns around the company's long-term strategy for the downgrade, which consists of greater in-house chip production. "We wish we could all have a 15-year investment horizon," Rasgon said in a Wednesday note. "We aren't suggesting TXN's strategy is 'wrong' or 'bad,' they just have a longer investment horizon than most other companies.

Persons: Bernstein, Stacy Rasgon, Rasgon, —, Michael Bloom Organizations: Texas, Texas Instruments

☆ Nvidia results burnish AI rally, lift global tech shares
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

Nvidia's shares rose to $510.14 in premarket trading, set to surpass a record high of $481.87 hit earlier this week. That represents another three-fold increase in the stock's value from current levels. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%. A lot rested on Nvidia posting strong results, as most of the S&P 500's over 15% year-to-date gains have come from the AI-driven rally in Nvidia and other Big Tech stocks. Investing.com analyst Thomas Monteiro said Nvidia's results validated "the narrative that has been propping tech stocks in general this year."

Persons: Ann Wang, ”, Hargreaves, Sophie Lund, Yates, Elazar, Bernstein, Stacy Rasgon, Ipek Ozkardeskaya, Thomas Monteiro, Susan Mathew, Chavi Mehta, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Devices, Micron Technology, Broadcom, Marvell Technology, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Swissquote Bank, Big Tech, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ Nvidia's Frankfurt shares surge as stellar results seen keeping AI rally alive
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

A Nvidia logo is seen on one of their products on display at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsAug 24 (Reuters) - Frankfurt-listed shares of Nvidia jumped 8.7% on Thursday, lifting tech shares around the world, after the company forecast quarterly revenue that smashed expectations and announced a $25 billion buyback. That represents an over three-fold rise in shares from last close of $471.16. The results are also seem keeping a Wall Street rally alive, with futures tracking the tech-heavy Nasdaq 100 jumping more than 1%, while S&P 500 futures rose 0.7%. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%.

Persons: Ann Wang, Elazar, Stacy A, Ipek Ozkardeskaya, Susan Mathew, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Swissquote Bank, Big Tech, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Thomson Locations: Taipei, Taiwan, Frankfurt, Bengaluru

☆ Nvidia is a company you've got to own in the new tech bull market: Main Street's James Demmert
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia is a company you've got to own in the new tech bull market: Main Street's James DemmertStacy Rasgon, Bernstein managing director and James Demmert, Main Street Research CIO, join 'Closing Bell Overtime' with reaction to Nvidia earnings.

Persons: you've, James Demmert Stacy Rasgon, Bernstein, James Demmert Organizations: Nvidia, Street Research

☆ Breaking down Nvidia's bounce back with Bernstein's Stacy Rasgon
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBreaking down Nvidia's bounce back with Bernstein's Stacy RasgonStacy Rasgon, Bernstein Research analyst, joins 'Closing Bell' to discuss Nvidia's bounce back ahead of the company reports earnings.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon, Bernstein Organizations: Bernstein Research

☆ How Amazon is racing to catch Microsoft and Google in generative A.I. with custom AWS chips
▼ + stars: | 2023-08-12 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article METAGOOGLMSFTAMZN Follow your favorite stocks CREATE FREE ACCOUNTChips as 'true differentiation'In the long run, Dekate said, Amazon's custom silicon could give it an edge in generative AI. Microsoft has yet to announce the Athena AI chip it's been working on, reportedly in partnership with AMD. So you train the machine learning models and then you run inference against those trained models," Wood said. Amazon's custom chips, from left to right, Inferentia, Trainium and Graviton are shown at Amazon's Seattle headquarters on July 13, 2023. An Amazon employee works on custom AI chips, in a jacket branded with AWS' chip Inferentia, at the AWS chip lab in Austin, Texas, on July 25, 2023.

Persons: Dekate, It's, Nitro, Stacy Rasgon, Matt Wood, Wood, Trainium, Nvidia H100s, Rasgon, Joseph Huerta, they're, Mai, Lan Tomsen Bukovec, Gartner, Swami Sivasubramanian, Sivasubramanian, Katie Tarasov Organizations: Microsoft, AWS, Amazon, CNBC, AMD, Intel, Bernstein Research, Google, Unit, Nvidia, Seattle, AI21 Labs Locations: Austin , Texas

☆ Big Tech Rebounds and Preps for Transformative A.I. Investments
▼ + stars: | 2023-08-05 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

In a call with investors on Thursday, Andy Jassy, Amazon’s chief executive, said work on generative A.I. And during recent calls with analysts, Google, Meta and Microsoft also said they would increase investments to support A.I. Generative A.I. The number of customers using Microsoft’s Azure OpenAI Service, a tool to build on the generative A.I. models developed by its partner OpenAI, has increased this year to more than 11,000, from 250.

Persons: Andy Jassy, Tim Cook, Stacy Rasgon, Bernstein, OpenAI, “ It’s, ”, Gavin Baker Organizations: Google, Meta, Microsoft, McKinsey, OpenAI, Management Locations: Boston

☆ Qualcomm tumbles after signalling more pain from smartphone slump
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Qualcomm (QCOM.O) tumbled nearly 9% on Thursday after a gloomy forecast signalled more pain for the largest maker of smartphone chips from the ongoing slump in the consumer electronics market. The stock has risen 19% this year, but has underperformed the broader chip industry (.SOX) on worries about smartphone demand. The company disappointed investors on Wednesday with a current-quarter revenue forecast that was below market estimates, as well as adjusted sales that missed expectations. "Huawei headwinds are new (and larger than we would have thought), and (Qualcomm) stock is admittedly un-sexy," Bernstein analyst Stacy Rasgon said. Qualcomm has a 12-month forward price-to-earnings ratio of 14.05, much lower than Nvidia's (NVDA.O) 43.94 and the industry median of 20.51.

Persons: Dado Ruvic, Piper Sandler, Piper, Bernstein, Stacy Rasgon, Aditya Soni, Anil D'Silva Organizations: Qualcomm, REUTERS, Huawei, Thomson

☆ Bernstein's Stacy Rasgon breaks down what to expect from AMD upcoming earnings report
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Stacy Rasgon breaks down what to expect from AMD upcoming earnings reportStacy Rasgon, Bernstein Research, joins 'Closing Bell' to discuss AMD's shares ticking up ahead of its earnings report.

Persons: Bernstein's Stacy Rasgon, Stacy Rasgon Organizations: AMD, Bernstein Research

☆ Here's the trade on AMD ahead of earnings, according to top analysts
▼ + stars: | 2023-08-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

AMD YTD mountain AMD year to date Analysts are expecting AMD's fiscal second-quarter revenue to come in at $5.32 billion, per StreetAccount. While recent results have been disappointing , AMD has embraced the AI story as investors look for the next Nvidia , he said. It has a hold rating and $110 price target, implying nearly 4% downside from Monday's close. Its $138 price target suggests nearly 21% upside ahead. TD Cowen is also bullish, maintaining its outperform rating and raising its price target to $135 from $115.

Persons: Lisa Su, Bernstein, Stacy Rasgon, Rasgon, Morgan Stanley, Joseph Moore, Cowen, Michael Bloom Organizations: AMD, Global, IDC, Nvidia, Deutsche Bank

☆ There could be an upside for Intel in the back half of the year, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere could be an upside for Intel in the back half of the year, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein's senior semiconductor analyst, joins 'Closing Bell' to discuss what to expect from Intel's quarterly earnings results, competitors in Intel's field, and what needs to happen to modify Intel's rating to buy.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon Organizations: Intel

☆ Bernstein's Stacy Rasgon breaks down the second-half playbook for chip stocks
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Stacy Rasgon breaks down the second-half playbook for chip stocksStacy Rasgon, Bernstein senior semis analyst, joins 'Squawk on the Street' to discuss competition in the semiconductor market, export controls on Chinese semiconductors, and the strength of semiconductor demand.

Persons: Bernstein's Stacy Rasgon, Stacy Rasgon, Bernstein

☆ Here's why Bernstein's Stacy Rasgon thinks Intel stock may be bottoming
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Bernstein's Stacy Rasgon thinks Intel stock may be bottomingStacy Rasgon, Bernstein's senior semiconductor analyst, joins 'The Exchange' to discuss finding the bottom of Intel stock, Intel's cost-saving efforts, and competition in the semiconductor space.

Persons: Bernstein's Stacy Rasgon, Stacy Rasgon Organizations: Intel

☆ Intel's near-term fundamentals look as bad as they can get, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel's near-term fundamentals look as bad as they can get, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein's senior semiconductor analyst, joins 'The Exchange' to discuss finding the bottom of Intel's stock, Intel's cost saving efforts, and competition in the semiconductor space.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon

☆ Bernstein says Nvidia is still the best A.I. trade, but there's a close second, too
▼ + stars: | 2023-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

No one has been able to dethrone Nvidia as the top play in generative artificial intelligence, according to Bernstein. Analyst Stacy Rasgon said chipmaker Nvidia is still the best pick for investing around generative AI. "If you really want to invest in generative AI, NVDA remains your best option," Rasgon said in a Tuesday note to clients. A deal with VMWare could also drive further upside, Rasgon said. NVDA AVGO,AMD YTD mountain Nvidia, Broadcom and Advanced Micro Devices — CNBC's Michael Bloom contributed to this report.

Persons: Bernstein, Stacy Rasgon, Rasgon, AVGO, he's, NVDA, Michael Bloom Organizations: Nvidia, Broadcom, VMWare, AMD

☆ AMD is late to the A.I. race, analyst says
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAMD is late to the A.I. race, analyst saysStacy Rasgon, managing director and senior analyst at Bernstein Research, says "AMD is probably the best alternative to Nvidia, but even within that context … AMD is late."

Persons: Stacy Rasgon Organizations: AMD, Bernstein Research, Nvidia

☆ AMD is 'very early' in its A.I. journey, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAMD is 'very early' in its A.I. journey, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein Research, joins 'Closing Bell' to discuss AMD shares moving lower after it reveals new graphics chip it hopes will rival Nvidia's A.I.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon, Nvidia's Organizations: AMD, Bernstein Research

☆ Bernstein's Rasgon: I am surprised Nvidia stock isn't up more
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Rasgon: I am surprised Nvidia stock isn't up moreStacy Rasgon, Bernstein senior research analyst, joins 'Squawk on the Street' to discuss the large gap between Nvidia's stock price and the A.I. sector's performance, if the company's guidance is durable.

Persons: Stacy Rasgon, Bernstein Organizations: Nvidia

Nvidia now trades at around 45 times Wall Street's average earnings estimates for the next 12 months - a popular measure known as the forward price/earnings (P/E) ratio. While investors rushed to buy Nvidia's stock in recent sessions, its P/E multiple has fallen simply because Wall Street's earnings expectations for the company rose even faster than its share price. During Tuesday's session, Nvidia became the first chipmaker to boast a $1 trillion valuation. AI was mentioned 86 times on Nvidia's conference call, beating out 52 mentions on Alphabet's (GOOGL.O) call and 35 mentions on Microsoft's (MSFT.O) call. Reporting By Sinéad Carew, Noel Randewich and markets team reporters; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Nvidia Corp's, Jensen Huang, Bernstein, Stacy Rasgon, Susannah Streeter, Hargreaves Lansdown, Streeter, Sinéad Carew, Noel Randewich, David Gregorio Our Organizations: FRANCISCO, Nvidia, Hargreaves, Devices, Meta, Thomson Locations: Refinitiv, Alphabet's, Microsoft's

☆ This is just the beginning of Nvidia's long-term upside, says Bernstein's Stacy Rasgon
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is just the beginning of Nvidia's long-term upside, says Bernstein's Stacy RasgonBryn Talkington, Requisite Capital Management managing partner, and Stacy Rasgon, Bernstein senior research analyst, join 'Closing Bell' to discuss Nvidia as the company crossed the $1 trillion mark today.

Persons: Bernstein's Stacy Rasgon Bryn Talkington, Stacy Rasgon, Bernstein Organizations: Capital Management, Nvidia

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