On May 25, Nvidia shares did one of the greatest one-day moonshots in the annals of capital markets. It's the top single case to date of investors' intoxication with Artificial Intelligence. On the earnings call for Q1 2024 (ended April 30), hosted the previous afternoon, CFO Colette Kress stressed that the designer and manufacturer of computer graphics processors foresees gigantic expansion ahead as data centers inevitably switch to its products incorporating AI. "Generative AI is driving exponential growth in compute requirements and a fast transition to NVIDIA accelerated computing," Kress declared. In the press release, CEO Jensen Huang presented the kind of forecast for unlimited opportunity in AI that's re-ignited the rally in big tech. Wrote Huang, "A trillion dollars of installed global data infrastructure will transition...to accelerated computing as companies race to apply AI to every product, service, and business process."
