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I’ve never been one to have a messy desk at work.
For me, everything has a place. Great office organization, great results, that’s how my mind works.
But I broke this rule slightly at the close of business on Friday. In the future, I will tape a paper cutout of Nvidia (NVDA) CEO Jensen Huang in his signature leather jacket to the wall plaque (see image below). And I’ll tell you why.
This week I forgot to check Nvidia’s stock price for an entire day, my usual ten times a day – I only checked in five times. I let myself (and all of you) down because Nvidia stock went from a rapid sell-off from Monday’s all-time highs to the same highs at the end of the week in the blink of an eye.
I missed it!
The stock is up 13% in October, offsetting the S&P 500’s 1.4% gain. The AMD (AMD) share is down up 5% this month, comparable to Intel (INTC).
So Jensen’s face on my desk reminds me to check Nvidia’s stock price and fundamental data several times a day. And to ask everyone I meet about Nvidia, even people who aren’t in the chip world (as I did at an annual CEO dinner this week hosted by Bill McDermott, CEO of ServiceNow (NOW)).
This is what I was reminded of when I started another Nvidia obsession: something insanely bad from a company-specific perspective will be the only thing that will suppress this market enthusiast for any length of time. To be honest, I don’t see where that insanely bad stuff would come from in the coming quarters.
That includes the set of plugged-in characters I chat with every week.
“I don’t think when you come to Nvidia there’s no hype at all. I’ve known Jensen for decades, and he’s the real deal. What these guys are doing is very real and very powerful,” C3.ai (AI) Founder and CEO Tom Siebel told me on Yahoo Finance’s Opening Bid podcast (video above; listen below).
Hey Sam Altman, see what Siebel thinks about your latest appraisal…
Anyway, Antonio Neri, CEO of Hewlett Packard Enterprise (HPE), has known Jensen for ages. Speaking to him, yours truly, and Seana Smith on Yahoo Finance’s Catalysts, I didn’t get the sense that Nvidia’s products were anything but stellar sellers.
‘If you think about the big scale [cloud] providers, what they want is to come to the market with the latest technologies. And of course Blackwell is an important part of that because they’re going from air cooling to liquid cooling, more power density and more performance, and they’re on track to do that,” Neri said of Nvidia.
Speaking of Blackwell – Nvidia’s new ultra-powerful AI chip – the analyst community feels like they’re ready to boost their fourth-quarter earnings forecasts on better-than-expected demand.
“We believe demand exceeds supply for Nvidia 15:1, and the street realizes that this AI party is still at 9pm and led by the Godfather of AI Jensen and Nvidia. TSMC had a monster [earnings] numbers, and Blackwell looks like an Aaron Judge debut coming out of the gate,” Wedbush analyst Dan Ives told me.
The JPMorgan team estimates Blackwell’s fourth-quarter revenue of “several billion dollars.” Huge if it happens, which underlines the willingness to build out AI infrastructure.
Believe me, I look at Nvidia very critically, just like all the companies I report on.
But boy, it sure looks like Nvidia is back in beast mode, makes a lot of sense, as does having a cutout of Jensen on my desk.
“Jensen is an innovator, a great leader, a great operator. You can’t count those guys out of anything,” Siebel added.
Three times a week I have insightful conversations with the biggest names in business and markets Opening bid. Find more episodes on our videohub. Check your favorite streaming service. Or listen and subscribe Apple podcasts, Spotifyor wherever you find your favorite podcasts.
Brian Sozzi is editor-in-chief of Yahoo Finance. Follow Sozzi on X @BrianSozzi and on LinkedIn. Tips about deals, mergers, activist situations or something else? Email brian.sozzi@yahoofinance.com.
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