Larry Ramer
2 min read
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Well-known investor Steve Weiss announced yesterday on CNBC that he plans to sell all of his NVIDIA Corporation (NVDA) stock if the shares reach $140.
The investor cited the chip maker's stepped-up competition as the reason for his decision.
A frequent guest on CNBC, Weiss is the Chief Investment Officer and Managing Partner of Short Hills Capital Partners.
Competing Chips Are Reaching the Market
The AI chips that the giant cloud-infrastructure companies "have been working on for years" are now entering the market, Weiss reported. These firms are launching their own AI chips in order to reduce their dependency on NVIDIA Corporation (NVDA), the investor asserted.
Given the large cloud-infrastructure players' large amounts of cash, "they're not going to be held hostage to "NVDA's high prices "forever," Weiss stated.
More Information About NVIDIA Corporation (NVDA)
Analysts on average expect the company's earnings per share to climb to $4.39 this year, up from $2.99 in 2024.
In the last month, the shares have risen 32%, but they have lost 1.5% in the last three months.
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
