Posted 2/29/2024, 7:00:00 AM
Top Investors Warn Nvidia's Lead in AI Boom May Not Last
- Rob Arnott and Terry Smith are skeptical of Nvidia's valuation and the sustainability of the AI boom
- They point to examples where first movers and early leaders in previous tech revolutions were later disrupted
- Smith uses a "soccer stadium" analogy to argue there may be no winners at all from the AI boom
- Analysts argue second movers, not first movers, usually win in the long run
- Some compare the AI boom to canal systems in 18th century London - the big winners used them to make new products