There’s ‘no replacement’ for Nvidia when looking at AI stock plays, analyst says

Nvidia Corp.’s stock
NVDA,
+0.26%
remains the ultimate way to play the trend of artificial intelligence, according to a Mizuho analyst. “There really is no replacement to the current NVDA story in my view, meaning no other company that is likely to benefit to similar degree,” wrote Jordan Klein, a desk-based analyst associated in with Mizuho’s sales team and not its research arm. He thinks Nvidia could start guiding up quarterly revenue expectations by 50% into the second half of 2023 and beyond. While there are other potential AI plays within the semiconductor and software industries, “most of those feel super-owned already or potentially a lot more hype than reality,” Klein said in a note to clients Monday. Klein’s commentary comes as Nvidia shares have surged 189% so far this year.