Amazon, Google And Others Are Pouring $700 Billion Into AI CapEx, Top Analyst Explains Why This Makes It 'Hard' To Bet Against Nvidia
As big tech ramps up what could total nearly $700 billion in artificial intelligence-driven capital expenditures, a top analyst believes Nvidia Corp. (NASDAQ:NVDA) stands to capture as much as half of that spending.Analyst Says Nvidia Is ‘Hard To Bet Against'On Wednesday, Futurum Group CEO Daniel Newman took to X and said that Nvidia could see 40% to 50% of the magnificent seven's committed AI capital expenditures flow its way."$NVDA should see 40-50% of the ~$700 Billion in Mag 7 committed AI Capex. Hard to bet against that," Newman wrote.Newman also shared a clip from his Fox Business appearance. In the clip, he can be heard arguing that even if returns on AI investments take time to materialize for major tech companies, Nvidia benefits immediately because it supplies the critical infrastructure."About 40% or 50% of that spend goes to none other than Nvidia," Newman said, adding that the chipmaker continues to generate strong cash flow and revenue growth while trading at roughly 23 to 24 times forward earnings.$NVDA should see 40-50% of the ~$700 ...Full story available on Benzinga.com
