Roughly 30 years ago, the advent and subsequent proliferation of the internet changed the growth trajectory for businesses worldwide. Since then, investors have been patiently waiting for the next game-changing technology to come along and rival what the internet did for corporate America. After an extended wait, artificial intelligence (AI) looks to have answered the call.
The "rise of AI" involves the use of software and systems for tasks that humans would normally handle. Moreover, these AI-driven systems have the capacity to learn and evolve over time without human intervention. This ability to grow more proficient at assigned tasks, as well as potentially learn new skills, gives AI utility across the board.
Nvidia: Implied upside of 55%
To no one's surprise, the first artificial intelligence stock pegged by at least one Wall Street analyst to deliver outsize gains over the next year is leading hardware provider and innovator Nvidia(NASDAQ: NVDA).
Rosenblatt's Hans Mosesmann increased his and his firm's price target on Nvidia to $200 from $140 following the company's recent 10-for-1 stock split. If Mosesmann's forecast were to prove accurate, the company would have a roughly $5 trillion market cap, and existing shareholders would enjoy an additional 55% upside from where shares closed on July 12.
