Nvidia and AMD shares hit record highs on AI chip surge
Summary
Nvidia Corp CEO Jensen Huang holds one of the companys new RTX 4090 chips for computer gaming in this undated handout photo provided September 20, 2022. AMD and Nvidia hit all-time highs on Thursday as investors continue to clamor for shares of the companies building chips that power artificial intelligence. The record valuations reflect continued investor interest and hunger for companies that design and sell graphics processors for artificial intelligence. But theyre also essential for training and deploying intricate AI models like OpenAIs GPT, leading to a massive surge in sales for the chips. TSMC management believes manufacturing AI chips could represent a "high-teens" percentage of its revenue in five years, which has positive implications for both Nvidia and AMD, Goldman Sachs analysts led by Toshiya Hari wrote in a note on Thursday.
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