NVDA - Better AI Stock: Nvidia vs. Snowflake
2024-05-30 05:10:00 ET
Nvidia (NASDAQ: NVDA) and Snowflake (NYSE: SNOW) represent two different ways to invest in the growing artificial intelligence ( AI ) market. Nvidia is the world's largest producer of discrete GPUs, which are used to render high-end graphics and process AI tasks. Snowflake's cloud-based data warehouses store and clean up large amounts of data so it can be easily accessed by third-party applications. That process makes it easier for AI applications to make data-driven decisions.
Nvidia and Snowflake both recently headed in opposite directions after their latest earnings reports. Nvidia's stock soared to a new all-time high after the company crushed Wall Street's top- and bottom-line expectations, provided a rosy outlook, and announced a 10-for-1 stock split. Snowflake's stock slumped after the company missed analysts' bottom-line estimates and provided a murky near-term outlook. So should investors continue to buy Nvidia and avoid Snowflake?
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Better AI Stock: Nvidia vs. Snowflake