Market Outlook: Nvidia reaction signals shift in AI trade
BNN Bloomberg
Muted reaction to Nvidia highlights AI capex scrutiny, elevated U.S. valuations and growing global diversification by investors.
BNN Bloomberg spoke with Christine Tan, portfolio manager at SLGI Asset Management, who said investors are becoming more selective within AI and U.S. equities, rotating globally for better valuations while maintaining a modest overweight in Canadian banks as credit conditions stabilize.
Read the full transcript below:
ANDREW: Investors are somewhat muted in their reaction to Nvidia. The company delivered another blockbuster quarter, with the stock up almost 50 per cent over the past year and revenue soaring more than 70 per cent. However, the forecast did not thrill investors. Let’s get perspective on the tech mega-caps and AI from Christine Tan, portfolio manager at SLGI Asset Management. Christine, great to see you. Thanks very much for joining us.
CHRISTINE: Good morning, Andrew. Great to see you.
ANDREW: Let’s take a quick look at Nvidia in the pre-market. We didn’t see a huge reaction to the numbers. Did anything jump out at you?
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