Nvidia has blown away its longtime rival Intel this year as the AI craze fuels massive stock gains
The California-based chipmaker's stock soared 24% on Thursday after it issued a second-quarter sales forecast that crushed Wall Street's expectations. Investors piled in, betting the company would benefit from the current AI boom.S&P 500Other AI-related stocks also surged on the back of Nvidia's stellar results – but Intel fell 5.5%, slashing its gains for the year to below 4%.
Nvidia is the leading producer of the graphics chips needed for high-intensity AI computing, meaning it was well-positioned when the rise of ChatGPT created anIn contrast, Intel's semiconductors tend to be used in data centers – which many have warned could be rendered obsolete by the rise of generative AI.
By not matching its rival's AI efforts, Intel has"missed the boat, which has hit stock performance and valuation and growth potential," ROBO Global analyst Zeno Mercer told
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