I’m a stock market AI enthusiast!
How else can you explain what we are witnessing? And if you message me on X that the market movement is 100% healthy, expect no response. Come on, friends!
At a conference in Taipei early Monday, NVDA CEO Jensen Huang said the company will launch a super PC chip targeting Intel (INTC) and AMD (AMD) in the fall. For Mr. Hwang, labeling a new product “super” is like throwing lighter fluid into an open flame.
The news sent the stocks of tech companies Arm Holdings (ARM), IBM (IBM), Hewlett Packard Enterprise (HPE), and ServiceNow (NOW) soaring like a giant fireball.
IBM’s stock price at one point rose 10% this week after a resurfaced video of President Trump praising CEO Arvind Krishna was seen as a novelty by AI bulls.
But what Huang said about the potential of artificial intelligence is one that AI bulls have caught on to. This is not to say that these are new ideas from the always bullish Mr. Hwang. These were more of an update on earlier upbeat comments, arriving at a critical moment for tech investors.
“Every company is going to have agents in-house,” Huang said. “Every company is going to realize that their agents will need their own operating system. Every company is asking us, ‘How do I run my agents securely? How do I build them for my own workloads?'” There will be many agents. The world is no longer limited by the number of people. These agents will have more tools than ever before. ”
Mania fuel!
It was just Monday morning.
Monday evening brought some surprising AI news from Hewlett-Packard Enterprise.
Days after Dell (DELL) stock soared 32.6% following a monster quarter and guidance, Hewlett Packard Enterprise experienced a similar market reaction.
Hewlett Packard Enterprise shares rose 16% Tuesday on better-than-expected results and a positive outlook amid an AI infrastructure boom. HPE CEO Antonio Neri told me in June that he was so confident in the demand outlook for AI that he was willing to release guidance for 2027.
“The real demand is there,” Neri said, pushing back on the notion that we’re headed for a dot-com crash. Neri said he doesn’t think a peak in AI demand is imminent.
Chuck Robbins, CEO of HPE competitor Cisco (CSCO), sounded as upbeat in a chat a few weeks ago as he did when Cisco’s stock soared after a big quarter.
I heard a zero-tone change when I spoke with Snowflake (SNOW) CEO Sridhar Ramaswamy at the company’s annual partner conference in San Francisco. That’s minus a few days after Snowflake’s stock soared more than 30% the day after the earnings report.
