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NVIDIA Corporation (NVDA) Remains in a Very Favorable Position in the AI Market, Longtime Investor Says

NVIDIA Corporation (NVDA) is still in the “pole position” in the AI market, veteran investor Jason Snipe said yesterday on CNBC.  Moreover, the firm’s recent deal with the Saudis should boost the stock, Snipe believes.

Snipe is the Principal of Odyssey Capital Advisors.

Still a Top Name in AI

During NVIDIA Corporation (NVDA)’s last earnings call, the company noted that it expected to benefit from “about $1 trillion of (capital spending) over the next few years on AI factories,” the investor noted.

As a result, Snipe believes that the company continues to be poised to benefit tremendously from the AI Revolution.

“A Boost” From the Saudis

Saudi Arabia’s sovereign wealth fund recently agreed to utilize hundreds of thousands of NVDA’s AI chips in the data centers that it’s building. NVIDIA Corporation (NVDA) has gotten “a boost” from the news, said Snipe, adding that the deal “is going to be powerful” for the tech giant.

Wapner Provides Background Information

NVDA stock has climbed “above its 200 day moving average for the first time since February (and) its market cap is back above $3 trillion, “noted CNBC anchor Scott Wapner during the same segment in which Snipe spoke.

“It’s really been a remarkable comeback,” Wapner said.

While we acknowledge the potential of NVDA, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey

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