NVIDIA Leaves AMD, Intel In The Dust In JPMorgan’s Artificial Intelligence Report

wccftech.com:

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

According to a fresh report from investment bank JPMorgan, chip designer NVIDIA Corporation is slated to benefit from artificial intelligence growth greatly. NVIDIA shook the stock market with its earnings report for the first quarter of 2024, where it beat analyst revenue guidance for the current quarter by miles and pointed out a hefty $1 trillion market from firms choosing to shit to artificial intelligence platforms for their data center operations. Building on this, JPMorgan is out with some fresh estimates for NVIDIA, where it believes that the firm can scoop as much as 60% of artificial intelligence revenue this year on the back of its hardware products, such as graphics processing units (GPUs) and networking products.

At the same time, AMD continues to lead Intel in CPU growth in the cloud computing market, but Intel remains the dominant products provider, according to data from KeyBanc.

The report from JPMorgan, shared by MarketWatch, outlines the bank's expectations of the revenue flow from artificial intelligence products this year. In the aftermath of NVIDIA's blockbuster earnings earlier this week, banks jumped in the fray and started out with their optimistic forecasts for the remainder of this year.

The first of these came from Bank of America, and it covered the prospects of the Taiwan Semiconductor Manufacturing Company (TSMC). BofA shared that NVIDIA's expectations of bringing in $11 billion in revenue during the current quarter will also translate well for TSMC as they might end up boosting its revenue in the second half of 2023. Its report also reiterated rumors that