Wedbush analyst Dan Ives has made a bold prediction after Nvidia Corporation (NASDAQ:NVDA) reported its first-quarter results on Wednesday. He said that the tech industry is on the brink of a significant transformation, with the potential for trillion-dollar valuations.
What Happened: On CNBC’s Last Call segment, following Nvidia’s impressive quarterly results, Ives said that “The party’s just getting started.” Nvidia’s historic rally was fueled by its data center business, which saw a staggering 427% growth in the latest quarter, driven by strong demand for its artificial intelligence processors from companies.
He went on to add, “We're going to be talking about $3-$4 trillion types of valuations in tech. There's no slowing down.”
When sharing the clip from the segment ...