Elon Musk Just Made a Surprising Statement About AI Chips. Here's the Stock It Helps.
The SpaceX CEO said this AI chip is his favorite, and he's putting his money where his mouth is.
Overview
Elon Musk recently praised Nvidia (NASDAQ: NVDA) GPUs as the best available option for AI processing, while explaining that Space Exploration Technologies (NASDAQ: SPCX) will exclusively use them. Some of those Nvidia processors will head into space next year on its first data center test satellites. That's even better news for Nvidia, and it seems like the good times will continue to roll.
Image source: Getty Images.
Nvidia's market cap is approaching $6 trillion, yet it's putting up growth rates that look more appropriate for a start-up than for the world's largest publicly traded company. The chipmaker more than doubled its revenue year over year in its fiscal 2027 second quarter, and it posted a 62% net profit margin.
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Originally published at www.fool.com.