Nvidia · CNBC Technology
Wall Street sees 'changing of the guard in AI' as Intel, AMD shares soar while Nvidia lags
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Since the launch of ChatGPT in late 2022 and the start of the generative AI craze, one name has dominated the infrastructure boom: Nvidia.
Key facts
- Micron blew past an $800 billion market capitalization for the first time this week, and the stock is now up over 750% in the past year
- Jonathan Krinksy, an analyst at BTIG, said in a recent note that the magnitude of the markup in the semiconductor space resembles 1999
- Since the launch of ChatGPT in late 2022 and the start of the generative AI craze, one name has dominated the infrastructure boom: Nvidia
- CNBC's Katie Tarasov and Kristina Partsinevelos contributed to this report
Summary
While the chipmaker, and the world's most valuable company, continues to prosper and is expected to show revenue growth of 70% this fiscal year, Wall Street has moved elsewhere, piling into businesses that were hardly visible in the initial years of the artificial intelligence buildout.