Premium – Nvidia rockets, highlighting the permanent magic of exponentiality
Time and again January's visits to World Economic Forum annual meetings in Davos have opened windows on the Next Big Thing. This year the buzz was all about Artificial Intelligence. That sparked the decision to add AI's most recognisable beneficiary, Nvidia (see below), to the BizNews model share portfolio.
The portfolio's purchases are made in equal chunks over a three-month period to avoid unnecessary spikes from share price or exchange rate movements. Our first Nvidia slug was end of January at $191. The final instalment came end March at $265. The average cost came in at $237.36. The price is now $480.
Timing of the purchase was a perfect fluke. Nvidia's results for the first quarter of 2023 included a massive upgrade in revenue projections due to the AI revolution. Second quarter results, released this week, showed demand continues to accelerate. Nvidia is in poll position to reap maximum benefit from this Next Big Thing.
___STEADY_PAYWALL___