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Should Investors Be Concerned About This Massive Artificial Intelligence (AI) News?

Snowflake is done buying GPUs until revenue materializes, which is a show to the artificial intelligence growth story.

By Travis Hoium – Sep 17, 2024 at 8:00AM EST

Snowflake's (SNOW 0.98%) CFO dropped some massive news recently, saying the company won't buy any more GPUs for artificial intelligence until they see revenue materialize. This could pour cold water on the growth projections many investors have put on AI stocks, which Travis Hoium shows in this video.

*Stock prices used were end-of-day prices of Sept. 16, 2024. The video was published on Sept. 16, 2024.

Read Next

About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
TMFFlushDraw
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet and Snowflake. The Motley Fool has positions in and recommends Alphabet, Nvidia, and Snowflake. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Snowflake Stock Quote
Snowflake
NYSE: SNOW
$152.45
(-0.83%)-$1.27
Nvidia Stock Quote
Nvidia
NASDAQ: NVDA
$215.16
(+1.73%)+$3.66
Alphabet Stock Quote
Alphabet
NASDAQ: GOOGL
$400.61
(+0.66%)+$2.62
Super Micro Computer Stock Quote
Super Micro Computer
NASDAQ: SMCI
$35.35
(+5.13%)+$1.73
Alphabet Stock Quote
Alphabet
NASDAQ: GOOG
$396.94
(+0.41%)+$1.64

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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