The stock market inched higher on Monday as investors looked ahead to key inflation and jobs data, which are set to be released on Thursday and Friday, respectively.
Overall, S&P 500 grew 0.6% to 4,433, while NASDAQ increased 0.8% to 13,705.
Tweet of the Day
Tomorrow, @Tesla will turn on a massive and very expensive 10,000 unit NVIDIA H100 GPU cluster to help it train FSD. But that got me wondering, what is the difference between these new H100 GPUs and the older A100 graphics processing units (GPUs) Tesla has been using for the last… pic.twitter.com/ZoCjR1SdjI
— Sawyer Merritt (@SawyerMerritt) August 28, 2023
Chart of the Day
Here is the one-year chart of Vertiv (VRT) as of August 28, 2023, when the stock was at $38.
Vertiv provides hardware, software, and services infrastructure for data centers, communication networks, and commercial & industrial applications. The company provides AC and DC power management products, thermal management products, integrated rack solutions, and management systems for maintaining these systems.
That’s a good business right now, and management is seeing an incremental tailwind from AI coming. The company’s pipeline has clearly strengthened, but it is hard to tell what’s from AI and what’s not. Vertiv seems similar to SuperMicro Computers (SMCI). In terms of market cap, VRT’s $14 billion is similar market to SuperMicro Computers’ $13 billion. VRT is projected to do $7 billion in revenue this year, and SMCI just ended its Fiscal 2023 with $7 billion in revenue.
VRT is on the radar for the Growth Portfolio.
