NVIDIA and AI have been dominating Wall Street in 2024 with NVIDIA’s impressive growth driven by AI chip demand. However, it may be time to look for the next big winner. Despite a 35% drop in its stock since January, Snowflake has a promising future. The company offers a cloud-based platform for data storage and integration and has seen significant revenue growth. Snowflake’s net revenue retention rate of 128% indicates strong customer loyalty. With the increasing importance of AI, Snowflake’s focus on AI under its new CEO could drive future growth. The company’s revenue growth has already shown signs of improvement. Despite recent struggles, Snowflake has the potential to bounce back and outperform NVIDIA in the coming months. Investors looking for long-term growth opportunities should consider Snowflake’s potential in the AI market.
Article Source
https://finance.yahoo.com/news/forget-nvidia-young-artificial-intelligence-000000141.html
