Shares of Nokia soared by 23% today after the telecom equipment provider announced a billion-dollar partnership with artificial intelligence (AI) giant Nvidia. As part of the deal, Nvidia plans to invest $1 billion in Nokia in exchange for a 2.9% stake in the Finnish networking pioneer.
Yardeni Research is seeking an investment from Nvidia. The funds will be used to build a data center in Dr Ed's backyard and to add a ballroom to the East Wing of his home in Long Island. That's just wishful thinking. But, for now, Cathy Wood has seen enough AI wheeling and dealing to warn that a "reality check" on AI valuations is coming. AI euphoria is once again causing the Magnificent-7 to outperform the Impressive-493 (chart).
