Jensen Huang Calls Nvidia the "World's First and Only Growth Value Stock," Pointing to Its 70% Revenue Growth Forecast Next Year. Here's Why That Framing Matters for How Investors Price NVDA.
Is Nvidia stock on track to serve up more incredible wins?
Overview
Speaking at Goldman Sachs' Communacopia + Technology Conference on Sept. 10, Nvidia (NASDAQ: NVDA) CEO Jensen Huang highlighted a series of growth forecasts for his company and the artificial intelligence (AI) market at large. Notably, Huang doubled down on his projection that the world's annual AI infrastructure spending would land between $3 trillion and $4 trillion by 2030. For reference, market research firm Gartner projects that global AI infrastructure spending will total roughly $1.48 billion.
At the conference, Huang also reiterated the guidance that Nvidia issued with its fiscal Q2 report earlier this month for sales growth of 70% in its next fiscal year. He went on to describe Nvidia as the "world's first and only growth value stock." What does that mean for investors?
Nvidia CEO Jensen Huang. Image source: Getty Images.
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Originally published at www.fool.com.