Nvidia's Dominance, AI Investments, And A Predicted Market Crash: This Week In Artificial Intelligence
The past week has been a whirlwind of activity, with tech giants and industry leaders making headlines. From Nvidia Corp.’s (NASDAQ:NVDA) impressive performance to Elon Musk’s massive investment in AI, there’s a lot to catch up on. Let’s dive into the top stories that shaped the week.
A Non-Tech Company Outperforms Nvidia and Super Micro
Seven of the top ten best-performing S&P 500 stocks over the past year were tech companies. However, the company that topped the list was not a tech company but a utility company, Vistra Corp. (NASDAQ:VST), which gained over 250% over the past year. Nvidia and Super Micro Computer, Inc. (NASDAQ:SMCI) took the second and third positions with gains of 239% and 203%, respectively.
Nvidia CEO Cashes In
Nvidia CEO Jensen Huang sold over $29 million worth of shares amid the company's remarkable stock market performance. Huang’s total sales over the past three weeks amounted to $184 million. Nvidia's stock reached its peak in June, driving the company's market value to over $3 trillion.
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Musk’s Massive Investment in AI
Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and founder of xAI, revealed that the upcoming version of his AI chatbot, Grok 3, will be trained on a staggering 100,000 Nvidia H100 chips. These chips are crucial for handling data processing in large language models and are highly sought after in Silicon Valley.
Peter Thiel’s Insights on AI
Palantir Technologies (NYSE:PLTR) co-founder Peter Thiel shared his insights on artificial intelligence, Nvidia, and ChatGPT-parent OpenAI at the Aspen Ideas Festival. Thiel drew parallels between the dot-com bubble of '99 and the current state of AI.
‘Rich Dad Poor Dad’ Author Predicts Market Crash
Robert Kiyosaki, author of “Rich Dad Poor Dad,” warned of an impending market crash, followed by a long-term bull run for gold, silver, and Bitcoin. Kiyosaki predicted a historic crash in the prices of real estate, stocks, bonds, gold, silver, and Bitcoin, followed by a subsequent bull market cycle starting in late 2025.
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Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Rounak Jain