Elliott Says Nvidia Is in A ‘Bubble’ and AI Is ‘Overhyped’: FT

Elliott Management told investors megacap technology stocks, particularly Nvidia, are in “bubble land,” the FT reports, citing a letter sent sent to clients this week.

• Added it was “sceptical” that big tech would keep buying Nvidia’s graphics processing units in high volumes
• Said AI is “overhyped with many applications not ready for prime time”
  • Added that many of AI’s supposed uses are “never going to be cost efficient, are never going to actually work right, will take up too much energy, or will prove to be untrustworthy”
• Elliott declined to comment to the FT

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