Cloud computing currently generates large profits for Amazon (AMZN), Microsoft (MSFT), and Google (GOOGL), but this now faces a threat with the rise of AI cloud specialists and Nvidia (NVDA), a new industry power broker, Asa Fitch of The Wall Street Journal reports. Nvidia launched its own cloud-computing services two years ago and has nurtured upstarts competing with big cloud companies, investing in CoreWeave (CRWV) and Lambda. While these moves have not yet made a large dent, a competitive shift may happen if computing demand continues to shift toward AI.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Nvidia Stock Nears Peak Again After 50% Rally — Will It Keep Rising?
- Why Nvidia’s (NVDA) Stock Boom Doesn’t End Here
- ‘Brace for a Pullback,’ Says Top Investor About Nvidia Stock
- ‘Time to Jump In,’ Says Analyst as He Upgrades Rating and PT on AMD Stock
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories!