Tech giant Nvidia has been the primary beneficiary of the artificial intelligence boom, with its graphics processing units and GPUs being sold to prominent cloud companies and developers of large language models. Last year, the stock soared 239%, and in closing on Monday, it was revealed that it is up another 174% in 2024.
The stock is set to overtake Apple as the largest publicly traded company by market capitalization.
Since the recent announcements, Stanley Druckenmiller, former owner of Nvidia, admitted he regrets selling Nvidia “too soon”.
“I’ve made so many mistakes in my investment career — one of them was I sold all my Nvidia probably somewhere between $800 and $950,” Druckenmiller said. “I own none and I owned none the last 400 points.”
“It tripled in a year, and I thought the valuation was rich,” Druckenmiller stated. “Nvidia is a wonderful company and were the price to come down, we’d get involved again. But right now, I’m licking my wounds from a bad sale.”
Nvidia’s incredible performance has put the company in a difficult position for its upcoming earnings announcement, which it has not officially scheduled. Nvidia isn’t headed toward a revenue decline; however, its growth will eventually slow, which could spook investors.
By CEO NA Editorial Staff
