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Here is Why Gorilla Technology Group Inc. (GRRR) Is Skyrocketing Today

Gorilla Technology Group Inc. (GRRR) shares are up 29% as of 12:11pm. That’s not why I noticed this stock though. One of our subscribers emailed me and told me the following:

” I would like to give you people a good tip. GRRR may easily quintuple this year! I suggest you have your analysts have a good look at that company.”

I believe that AI is the most innovative technological advancement of our lifetime. AI will transform every aspect of our life and will create the first trillionaire. That’s why I am closely following this corner of the market and try to identify the winners of the AI race.

Gorilla Technology Group Inc. (GRRR) came out of nowhere. It was a $25 million market cap company less than 6 months ago and its stock price already went up 10x. So, I searched our website about our previous coverage of this stock and found this quote from September 2022:

“Gorilla Technology Group Inc. (NASDAQ:GRRR) is a Taiwanese company with offices in the United States, The Netherlands, China, Hong Kong, Japan, Australia, Thailand, Indonesia, and Saudi Arabia. The company went public via a SPAC merger through Global SPAC Partners in July 2022, and the combined firm had an enterprise value of $708 million. The company provides video intelligence, Internet of Things security, and edge content management hardware, software, and services. “

I also read its earnings call transcript from Q4 of 2023 and the company was still talking about video intelligence, IoT, and smart cities in that earnings call.  Then I found this press release from December where, suddenly, GRRR became a “a disruptive force in AI compute” by launching its self-branded AI GPUs. Its CEO said “Gorilla is not merely participating in the AI compute market; we believe we are redefining it”.

This is probably the reason why this stock is so hot right now. This reminds me of Long Island Ice Tea company’s pivot into “Long Island Blockchain Inc.” and the stock’s nearly 400% increase following the announcement. In my opinion it is extremely unlikely that Gorilla Technology Group Inc. (GRRR) will be a successful GPU company and deliver positive long-term returns. However, it is still possible that investors, such as the subscriber who emailed me, will continue buying GRRR stock and push its share price even higher.

George Soros joins when he sees a bubble forming. I am not George Soros. I like to invest in potential long-term AI winners. I believe some AI stocks hold greater promise for delivering higher long-term returns than GRRR. If you are looking for an AI stock that is more promising than GRRR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: No positions. This article was originally published at Insider Monkey.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

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  • 175 Teslas
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  • 140 Metas
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  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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