Nvidia’s shares have almost quadrupled since last October. The maker of H100 semiconductors has been an obvious winner from investors’ excitement over artificial intelligence (AI) and large language models (LLM) such as ChatGPT. Yet the buzz is well and truly in the price, with Nvidia’s shares trading on 40 times sales, which seems expensive given the most obvious use case for LLMs is cheating on GCSE coursework. Perhaps identifying some less obvious winners and losers from the AI boom could prove profitable.
It has been suggested that LLMs could help automate financial advice. In February last year, Hargreaves Lansdown (HL) announced that it would spend £175m on strategic technology investment. The group intends to offer “augmented advice” – which Hargreaves Lansdown defines as
