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Investing.com – Nvidia (NASDAQ:) and Super Micro Computer (NASDAQ:) are the main beneficiaries of the growing interest in AI, but legendary investors say these companies will continue to grow for some time to come. In the meantime, Louis Navellier will continue to occupy a large proportion of individual portfolios.
NVIDIA stock was down about 2% at 11:05 ET (15:05 GMT), while SuperMicro was down more than 10%, with the former having fallen more than 10% since the beginning of the year, as investors took profits after impressive gains. The stock is up more than 75% since then, and the latter is up more than 200%. taller than.
“We understand that some people like to take profits, and that's fine, but for the majority of our portfolio, we don't want to hold these stocks long term,” said Navellier, founder and chairman of Navellier & Associates. “We will continue to hold it for a long time,” he said. It manages about $1 billion in assets, according to the memo.
Essentially, the speed of Nvidia's AI chips is expected to double every year, and by the end of 2020, Nvidia's AI processing speed is expected to be 11,800% faster than today.
Additionally, Nvidia has launched a cloud service that allows researchers to test quantum computing software. Nvidia Quantum (NASDAQ:) QMCO Cloud will initially consist of data centers stacked with AI chips and systems that simulate quantum computers.
Super microcomputers are also poised to dominate new water-cooled AI chips in ever-faster data centers.
“AI competition is real and challenging,” he added.
