TECH - Nvidia And Jensen Huang Fueling Tech Sector Boom Says Wedbush Analyst Dan Ives: 'For Every $1 Spent On…' | Benzinga
Wedbush analyst Dan Ives has underscored the significant influence of Nvidia Corporation’s (NASDAQ:NVDA) expansion on the tech industry, stating that every dollar spent on the company’s chips generates $8 to $10 in the rest of the sector.
What Happened: On Monday, while appearing on CNBC’s Squawk on the Street, Ives explained the ripple effect of Nvidia’s success throughout the tech industry.
Ives noted that tech stocks were up another 15%, he said that even though the rally was led by ‘Godfather of AI’ Jensen Huang, the "multiplier for every dollar spent on an Nvidia chip — $8-10 flows into rest of the tech."
He also pointed out that some tech firms feel the strain, especially those lacking the necessary resources and expertise.
Comparing this moment to the pivotal tech boom of 1995 rather ...