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close video Nvidia has huge shoes to grow into: Sarah Kunst

Cleo Capital Managing Director Sarah Kunst provides insight on key stocks to look at on Making Money.

Nvidia has emerged as one of the leaders of the tech companies racing to incorporate advanced artificial intelligence (AI) tools into their products, and the company’s stock has surged amid growth in demand with a 20% plus gain on Thursday alone. 

While there are no "pure play" AI stocks, as all the publicly-traded companies heavily involved in AI have other business offerings, Nvidia has come to be considered one of the leaders in the field despite being in a similar position. Ticker Security Last Change Change % NVDA NVIDIA CORP. 371.46 +66.08 +21.64%

Nvidia stock has soared by 113% year-to-date as of Wednesday’s close – outpacing some of the biggest names in tech and AI including Google and Microsoft which have enjoyed 30% growth in their share prices in the same period. After the market closed Wednesday and Nvidia held its earning call, its share price surged as much as 28% in after-hours trading to extend its lead as the world’s most valuable chipmaker and the fifth most valuable company on Wall Street.

Nvidia .

"Generative AI is driving exponential growth in compute requirements and a fast transition to Nvidia accelerated computing, which is the most versatile, most energy efficient and the lowest [total cost of ownership] approach to train and deploy AI," said Colette Kress, Nvidia chief financial officer and executive vice president. "Generative AI drove significant upside in demand for our products, creating opportunities and broad-based global growth across all markets."

NVIDIA STOCK SURGES ON DOMINANT A.I. MARKET POSITION, BUY RECOMMENDATION FROM HSBC

Nvidia has emerged as a major player in the tech sector’s push to deploy AI solutions. (Photo by Justin Sullivan/Getty Images / Getty Images)

Nvidia is deeply involved in AI in a number of areas, as it produces semiconductors, high-end graphics processing units (GPUs) and application programming interfaces (APIs) used in supercomputers and machine learning applications. Both GPUs and APIs are used in the process of training machine-learning models, and require sophisticated semiconductors, or computer chips, to generate the computing power needed to carry out the task of processing vast quantities of data.

Kress explained that several prominent tech companies with cloud data storage offerings – including Google Cloud, Oracle Cloud and Microsoft Azure – are seeing "strong demand" from "generative AI pioneers" and deploying Nvidia’s tools to satisfy it.

"Enterprise demand for AI and accelerated computing is strong. We are seeing momentum in verticals such as automotive, financial services and telecom where AI and accelerated computing are quickly becoming integral to customers’ innovation roadmaps and competitive positioning," Kress said.

ARTIFICIAL INTELLIGENCE: FREQUENTLY ASKED QUESTIONS ABOUT AI

Nvidia’s stock prices surged to record highs after a blockbuster earnings report. (REUTERS/Robert Galbraith / Reuters)

Nvidia AI Enterprise has more than 100 frameworks, pre-trained models and development tools that are focused on various tasks, such as speeding up data science tasks and AI model development.

She went on to say that Bloomberg is using Nvidia tools for a 50 billion parameter model, while AT&T is "working with us on AI to improve fleet dispatches so their field technicians can better serve customers."Ticker Security Last Change Change % MSFT MICROSOFT CORP. 313.85 -1.41 -0.45%GOOGL ALPHABET INC. 120.90 -1.66 -1.35%ORCL ORACLE CORP. 98.32 -0.22 -0.22%

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Nvidia has a partnership with Microsoft in which it will integrate enterprise-ready AI software into Microsoft’s Azure Machine Learning platform to help Azure customers rapidly build and deploy custom applications. 

"Our collaboration with Microsoft transformed Windows into the ideal platform for creators and designers harnessing generative AI to elevate their creativity and productivity," Kress noted.

Reuters contributed to this report.

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Ohtani’s blast caps 6-run 9th in wild Dodgers rally

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Ohtani's blast caps 6-run 9th in wild Dodgers rally

PHOENIX — Shohei Ohtani hit a three-run homer to cap a six-run ninth inning and the Los Angeles Dodgers rallied for a wild 14-11 victory over the Arizona Diamondbacks on Friday night.

The Dodgers trailed 11-8 entering the ninth inning after blowing an early five-run lead.

Andy Pages and Enrique Hernandez hit consecutive run-scoring doubles to open the ninth inning against Kevin Ginkel (0-1). Max Muncy tied it at 11-11 with a run-scoring single and Ryan Thompson replaced Ginkel to face Ohtani.

It didn’t go well for Arizona.

Ohtani, who doubled twice, fell into a 1-2 hole before launching his 12th homer near the pool deck in right to put the Dodgers up 14-11. He finished with four RBIs.

Tanner Scott worked a perfect ninth save in 11 chances.

The Dodgers roughed up Eduardo Rodriguez to take an 8-3 lead through three innings, but couldn’t hold it.

Lourdes Gurriel Jr. hit a tying grand slam in the fifth inning, then Ketel Marte and Randal Grichuk hit solo shots off Alex Vesia (1-0) in the eighth to put Arizona up 11-8.

Pages finished with three RBIs and Hernández extended the Dodgers’ homer streak to 13 straight games with a solo shot in the second inning.

Marte homered twice for the Diamondbacks. Rodriguez allowed eight runs on nine hits in 2⅔ innings.

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Marchand’s OT score cuts Panthers’ deficit to 2-1

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Marchand's OT score cuts Panthers' deficit to 2-1

SUNRISE, Fla. — Brad Marchand scored on a deflected shot at 15:27 of overtime and the Florida Panthers beat the Toronto Maple Leafs 5-4 on Friday night to cut their deficit in the Eastern Conference semifinal series to 2-1.

Aleksander Barkov, Sam Reinhart, Carter Verhaeghe and Jonah Gadjovich scored for Florida, which got 27 saves from Sergei Bobrovsky. Evan Rodrigues had two assists for the Panthers. They 13-2 in their last 15 playoff overtime games.

John Tavares scored twice, and Matthew Knies and Morgan Rielly also scored for the Maple Leafs. Joseph Woll stopped 32 shots.

Game 4 will be in Sunrise on Sunday night.

Florida erased deficits of 2-0 and 3-1, and that’s been almost impossible to do against Toronto this season.

By the numbers, it was all looking good for the Maple Leafs.

  • They were 30-3-0 when leading after the first period, including playoffs, the second-best record in the league.

  • They were 38-8-2, the league’s third-best record when scoring first.

  • They had blown only 11 leads all season, none in the playoffs.

  • They were 44-3-1 in games where they led by two goals or more.

Combine all that with Toronto having won all 11 of its previous best-of-seven series when taking a 2-0 lead at home, Florida being 0-5 in series where it dropped both Games 1 and 2, and leaguewide, teams facing 0-2 deficits come back to win those series only about 14% of the time.

But Marchand — a longtime Toronto playoff nemesis from his days in Boston — got the biggest goal of Florida’s season, rendering all those numbers moot for now.

The Leafs got two goals that deflected in off of Panthers defensemen: Tavares’ second goal nicked the glove of Gustav Forsling on its way past Bobrovsky for a 3-1 lead, and Rielly’s goal redirected off Seth Jones’ leg to tie it with 9:04 left in the third.

Knies scored 23 seconds into the game, the second time Toronto had a 1-0 lead in the first minute of this series. Tavares made it 2-0 at 5:57 and just like that, the Panthers were in trouble.

A diving Barkov threw the puck at the night and saw it carom in off a Toronto stick to get Florida on the board — only for Tavares to score again early in the second for a 3-1 Leafs lead.

Florida needed a break. It came.

Reinhart was credited with a goal after Woll thought he covered up the puck following a scrum in front of the net. But after review, it was determined the puck had crossed the line. Florida had life, the building was loud again and about a minute later, Verhaeghe tied it at 3-3.

Gadjovich made it 4-3 late in the second, before Rielly tied it midway through the third.

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Vegas’ Roy dodges suspension for G2 cross-check

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Vegas' Roy dodges suspension for G2 cross-check

NEW YORK — Vegas Golden Knights forward Nicolas Roy was fined but not suspended Friday for cross-checking the Edmonton OilersTrent Frederic in the face in overtime of Game 2 of the teams’ second-round playoff series.

The NHL Department of Player Safety announced the fine of $7,813, the maximum allowed under the collective bargaining agreement, after a disciplinary hearing with him.

Roy attempted to play the puck while it was airborne but made contact with Frederic’s head instead, resulting in a laceration for the Oilers forward.

Frederic briefly exited the game before making a quick return to the ice. Edmonton, however, failed to capitalize on the ensuing five-minute power play but won not long after on a goal by Leon Draisaitl from Connor McDavid.

Vegas trails the best-of-seven series 2-0 with Game 3 on Saturday night at Edmonton.

Information from The Associated Press and Field Level Media was used in this report.

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