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Nvidia's investments in developing chips to accelerate the development of artificial intelligence (AI) is proving to be arguably one of the best business decisions of all time.
Nvidia stock has tripled this year as investors bet AI will fuel sales of graphics chips. They'll cheer Ellison's comment about Musk's strong demand.
Nvidia's unofficial corporate mantra is that it is just 30 days from going out of business, which stems from the its near-death experience in 1996.
The Gates Foundation Trust and Bridgewater Associates built stakes in Nvidia last quarter, but other top investors pared or exited their bets.
Nvidia's gains may have come too far too fast for some investors as hedge funds tied to Dan Loeb, George Soros, and Stanley Druckenmiller sold shares.