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home / news releases / XLK - Parallel Universes? AI Energy And Chips

XLK - Parallel Universes? AI Energy And Chips

SPDR Select Sector Fund - Technology

2024-05-21 14:26:33 ET

Summary

  • Nvidia's stock has risen from a $300-$400 range one year ago to around $950, with the market continuing to speculate about the Nvidia impact and AI.
  • Concerns have been raised about companies rushing to offer AI solutions driven by FOMO, possibly leading to wasted capital and time.
  • The demand for AI-related initiatives is expected to drive data center power demand significantly by 2030, requiring large investment in new energy generation capacity.
  • I offer a retrospective, looking behind — at my AI, chip and energy learnings — to look ahead.

Last May, prior to Memorial weekend, the rise of Nvidia’s (NVDA) stock began in earnest. From a matter of a few days, a $300 stock rose to $400, and now it's trading around $950. The market has been digesting and sorting the meaning of Nvidia and AI all year. The earnings announcement coming tomorrow after the market’s close is much-awaited, and yet slightly baked in....

For further details see:

Parallel Universes? AI, Energy And Chips
Stock Information
Company Name: SPDR Select Sector Fund - Technology
Stock Symbol: XLK
Market: NYSE
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