Jefferies analyst Mark Lipacis said that Microsoft’s (MSFT) and Alphabet’s (GOOGL) comments regarding capex and AI spending on their earnings calls lead the firm to believe that its “above-consensus” Nvidia (NVDA) estimates “may prove conservative.” The firm, which notes that “AI” was mentioned 170 times on the calls, which is twice the rate in the companies’ Q4 reports, views Microsoft’s and Alphabet’s commentary as positive for Nvidia as well as AMD (AMD), Intel (INTC), Marvell (MRVL) and Broadcom (AVGO).
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