Adds blog on Nvidia
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NVIDIA A “SCREAMING BUY” – NAVELLIER
Nvidia NVDA.O is trading around 16% below its record high reached last month as concerns mount about valuations and the financing of artificial intelligence companies, but Louis Navellier, chief investment officer at Navellier & Associates, calls the stock a “screaming buy.”
Navellier says that media reports have been insinuating that Nvidia makes circular alliances with companies to drive stock prices higher and implying that some new customers may not have the capital to pay for the company’s expensive Blackwell Graphics Processing Units (GPUs).
However, he calls these reports "entirely unwarranted."
Other news stories have also been trying to imply that the boom in data centers will be constrained by construction delays and soaring electricity costs, he said.
But “the simple fact of the matter is that the U.S. is the “Saudi Arabia” of natural gas, so the U.S. has unlimited resources to cheap electricity via natural gas turbines,” Navellier said.
And, “Although both GE Vernova (GEV) and Siemens have 5-year order backlogs for their train-sized natural gas turbines, the data centers can also operate on smaller turbines per data center that are widely available, thanks to the aviation industry.”
Nvidia's stock price is at $178.75 on Monday.
(Karen Brettell)
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