'Dean of Valuation' Aswath Damodaran says the story behind Nvidia's stock surge makes sense but its current price doesn't
and joined a handful of companies including Apple, Microsoft, Google parent Alphabet, and Amazon that have reached the mark.
He told news outlets at the time that as someone who specializes in spotting stocks that trade below their intrinsic value, he couldn't justify holding on to Nvidia shares. "AI has been this buzzword that pushes every company forward. The two companies that have really something material to show for it are Microsoft and Nvidia and both have benefited — Nvidia in particular," Damodaran toldStill, Damodaran thinks AI will make changes that have the potential to dramatically shift the way people live and work –"and those changes always have valuation consequences.
"AI is changing the conversation and I think it has the potential unlike with the Cloud or Metaverse, where I felt I could not quite see the magnitude of the business that came out of both worlds," he told CNBC.
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