Kevin Stefanski gives up Browns play-calling duties

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  Kevin Stefanski Hands Over Browns Play-Calling Duties to Offensive Coordinator Ken Dorsey: A New Era for Cleveland’s Offense In a significant shift for the Cleveland Browns, head coach Kevin Stefanski has decided to relinquish his play-calling responsibilities, passing them on to recently hired offensive coordinator Ken Dorsey. This move marks a pivotal moment in the evolution of the Browns’ offense, signaling Stefanski’s willingness to adapt in hopes of igniting the team's underwhelming performance on that side of the ball. The Decision to Step Back Since taking over as head coach in 2020, Stefanski has called offensive plays for the Browns. Under his leadership, Cleveland’s offense initially flourished, particularly during the 2020 season when the team made a rare playoff appearance, defeating the Pittsburgh Steelers in the Wild Card round. Stefanski's offensive schemes, emphasizing a run-heavy attack and play-action passes, played a key role in maximizing the talents of qu...
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Nvidia stock price skyrockets on Nasdaq index amid AI boom. Should I own it?

Nvidia(NASDAQ: NVDA) dazzled the stock market on Wednesday, posting better-than-expected results in its first-quarter earnings report and offering eye-popping guidance for the second quarter. Shares finished the aftermarket session nearly 25% higher, adding close to $200 billion in market value.

The world's most valuable semiconductor company actually reported a year-over-year decline in revenue, which was expected as it faces difficult comparisons in its gaming segment. However, all eyes were on the data center segment. This area reflects the surging demand for artificial intelligence (AI) chips, which has skyrocketed since ChatGPT's launch late last year. Here, Nvidia did not disappoint.

Data center revenue rose 14% from the previous year and 18% from the previous quarter to a record $4.28 billion, and Nvidia's management forecast accelerating demand for AI capabilities.

CEO Jensen Huang said, "A trillion dollars of installed global data center infrastructure will transition from general-purpose to accelerated computing as companies race to apply generative AI into every product, service, and business process."

The chart below shows how Nvidia's results broke down in the quarter.

Even better than the first-quarter results was the company's guidance.

Nvidia called for $11 billion in revenue in the second quarter, up 64% from the quarter a year ago and up 53% from the first quarter, a dramatic acceleration after a year-over-year decline in revenue in the first quarter. On the earnings call, management said that the data center segment and demand for AI would drive the bulk of that growth.

The ripple effect

Nvidia's results and guidance were impressive enough that other AI stocks also gained on the news.

C3.ai (NYSE: AI), for example, finished the after-hours session up 8.2% as investors have bid the enterprise platform for AI higher this year even though its results have been disappointing.

Fellow chipmaker Advanced Micro Devices(NASDAQ: AMD) also popped 8.2% after hours. AMD is seen as a beneficiary from the boom in AI chip demand, but its graphics processing units (GPUs) are generally considered to be less powerful than Nvidia's.

By comparison, AMD's data center revenue was flat in the quarter and was just a fraction of Nvidia's at $1.3 billion.

Since C3.ai and AMD have already reported results for their most recent quarters, the direct implications of Nvidia's results seem minimal for those two stocks, but the top chipmaker's coattails are strong enough to give these stocks a significant boost.

In fact, all three have been big winners so far this year with Nvidia and C3.ai up about 150% and AMD gaining 67%.

There's been plenty of investor excitement over artificial intelligence this year, but it's only been six months since ChatGPT launched. Competition, including between heavyweights like Microsoft and Alphabet, is intensifying, and investors should be wary of the gold rush as past tech booms like the dot-com bubble, 3D printers, electric vehicles, and even cloud computing led to significant collapses in stock prices.

However, NVIDIA offers a way to get exposure to the AI revolution that no other stock does. Rather than trying to pick the winner in the AI chatbot wars, or bet on an unproven company like C3.ai, investors can buy shares of Nvidia and own a stock that looks set to gain from AI no matter what happens, as long as demand for AI chips continues to rise


 

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