Latest news with #ChrisVersace
Miami Herald
4 hours ago
- Business
- Miami Herald
SuRo Capital outlines OpenAI investment strategy, $1 trillion projection
This article is based on TheStreet's Stock & Markets Podcast. Hosted by the veteran Wall Street investor Chris Versace, the weekly podcasts are available early to members of TheStreetPro investing club. No big whoop? That's what you think. Whoop just happens to be a wearable technology company and it is one of many firms in which SuRo Capital (SSSS) , which has an estimated $200 million market cap, has invested. Don't miss the move: Subscribe to TheStreet's free daily newsletter Mark Klein is the investment firm's chairman and CEO and he sat down with Chris Versace, lead manager of TheStreet Pro Portfolio, to discuss how to get in early on growth-oriented companies. "We've been around since 2011," Klein said during the July 23 edition of TheStreet Stocks & Markets Podcast. "We've owned names over the years like Facebook and Twitter and Palantir, and Lyft and Spotify and Dropbox." "Slow down," Versace said. "These are the big names driving the market today." "Absolutely," Klein said, "and so our investors have been very fortunate that we're able to provide access very early to those names. And we've continued to do that straight through to 2025." And there's no mystery as to how SuRo finds companies to back. "It's investing and it's not easy," Klein said. "We use both bottom-up and a top-down approach to investing our money. And we are typically in mid- to later-stage companies that are either institutionally backed or venture-capital-backed companies." More Tech Stocks: Analyst who correctly predicted Rocket Lab stock surge resets forecastVerizon Q2 earnings report surprises with remarks on tax reformFund manager who forecast Nvidia stock rally reboots outlook He looked back to 2022, when ChatGPT, the conversational AI chatbot developed by OpenAI, was introduced. "Our first thought was what companies are going to benefit from it and what are going to be disrupted by it," Klein said. "And that was the lens that we looked at companies through very much as we're moving almost into through 2023 and into 2024." By 2024 ChatGPT made clear that it was going to be something massive, he said. "We wanted to understand how directly to invest in AI," Klein explained. "And not necessarily end-product-specific but picks and shovels - sort of the baseline of an infrastructure. And that's how we ended up investing in CoreWeave, Open AI [and] Vast Data." SuRo also invested in Oklo, which is focused on developing advanced fission power plants, particularly to support the energy-intensive needs of artificial intelligence and data centers. "This is how thematically how we got there and then tried to find the best of the best of breed and the leaders in their space and then be able to access it for our investors," Klein said. He described OpenAI as a difficult company to access due to its capital structure. "We wanted to own it because it [has been] the clear leader in what's going on in AI. And they literally have an announcement every day of something like, 'oh, my goodness, how did that happen?' And we were able to buy it. ... And I suspect OpenAI is going to be a trillion dollar company," Klein said. SuRo also invested in Plaid, which he called "one of the best fintech companies out there." "We're extremely excited with Plaid and it's when you look at the fintech landscape, [in] which there's a multitude of companies, this is clearly one of the best in the space," Klein said. Related: Stocks and Markets Podcast: Why Now Is the Time to Buy High-Yielding Small-Cap Stocks The conversation turned to the subject of companies that don't work. "Our view is unless the company's out of business, we don't write it off," Klein said. "We write it down to zero, but we don't write it off. And we learned that lesson several years ago. "We had a company that we had written down to zero and you could have easily just crystallized the loss," he added, "but through negotiations with the company and other shareholders, we got a recovery that was actually a gain from our initial investment." Klein said the IPO market is clearly opening up. "If the markets continue to stay firm, I believe the IPO market will remain open and we have several names in our portfolio that will probably go public in the next 12 to 18 months," he said. SuRo Capital's stock is up 48% this year and have more than doubled (up nearly 118%) from this time in 2024. The company is scheduled to report second-quarter earnings on Aug. 6. "This is clearly one of the most exciting periods to be on the investment side," he said. "It's exciting just to be watching all of this and the rate of change is amazing." "We're very fortunate that we are right in the middle of it, and our ability to have to identify, have access and deploy capital against it is probably the most fun experience I've had in investing in almost 40 years." Related: Veteran fund manager who forecast S&P 500 crash unveils surprising update The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 days ago
- Business
- Yahoo
Nvidia move deals a major blow to AMD, Intel, and ARM
Nvidia move deals a major blow to AMD, Intel, and ARM originally appeared on TheStreet. Nvidia climbed to become the largest company on the U.S. stock market. But how can it keep growing after hitting a $4 trillion market capitalization? Every company reaches its peak at some point. Are we witnessing Nvidia's, or can it hit $5 trillion? 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 That is a tricky question to answer, but the company thinks it can, and there is a lot more juice to be squeezed out of the artificial intelligence boom. The U.S. government recently reversed its export restrictions on Nvidia cards to China and assured the company that licenses will be granted. This change prompted many analysts to revamp the stock price target."China generated $17 billion in revenue for Nvidia in 2024, roughly 13% of the company's total revenue. In response to this news, we are lifting our NVDA price target to $200 from $185, and reiterating our One rating," writes veteran fund manager Chris Versace for TheStreet Pro. The company wasn't sitting down idly and waiting for this China miracle. It was making moves in Europe. Nvidia powers UK's most powerful AI supercomputer On July 17, Nvidia () revealed on its blog that the University of Bristol launched its Isambard-AI supercomputer. Nvidia Grace Hopper Superchips power it and deliver 21 exaflops of AI performance. While this supercomputer's 5,448 GH200 Superchips are impressive, they can't match the Jupiter supercomputer announced in June. Jupiter is also powered by the Grace Hopper platform, with nearly 24,000 GH200 Superchips. With its expected performance of over 90 exaflops, it is the fastest in Europe. Finding new customers for new supercomputers must reach a slowdown at some point. Nvidia knows this, and it's betting on robotics being the next big Thor is Nvidia's upcoming platform for physical AI and humanoid robotics. According to the company, it will be able to deliver up to 2070 FP4 TFLOPS of AI compute. This platform features a 14-core Arm Neoverse-V3AE 64-bit CPU and a 2560-core NVIDIA Blackwell GPU. What is often neglected in the AI GPU hype is that you need a CPU to actually run the software that will then use GPUs for calculations. Nvidia doesn't have its own CPU architecture and has to rely on ARM for this embedded (Thor) platform. The same goes for its Grace Superchips; for the CPU part, they have 72 high-performance Arm v9 cores. Nvidia tried to acquire ARM but was prevented by regulatory problems. The primary reason for the acquisition may have been licensing costs. Nvidia makes a power move, announces CUDA for RISC-V Nvidia Hardware Engineering VP Frans Sijstermans presented his "Enabling RISC-V Application Processors in NVIDIA Compute Platforms" at RISC-V Summit China, revealing that CUDA is coming to RISC-V. RISC-V is an open source instruction set architecture. This means anyone can make a CPU based on it, and the company does not have to pay for the license, although the company that makes its RISC-V compatible design can license its design. "This port will enable a RISC-V CPU to be the main application processor in a CUDA-based AI system," said RISC-V International. More Nvidia: Fund manager who predicted Nvidia stock rally reboots forecast on China Major analyst revamps Nvidia stock price target after China surprise Nvidia CEO hits Warren Buffett milestone The timing of this Nvidia move is very interesting. In an attempt to lower the country's dependence on Western-owned technology, China plans to issue guidance to boost the use of open-source RISC-V chips nationwide, reported Reuters in March. Also in March, XuanTie, part of Alibaba's DAMO Academy R&D operation, announced a C930 CPU design, reported The Register. This RISC-V-based design is available to license for system-on-chip makers. The company is marketing its CPU as something that can be used in servers, PCs, and autonomous cars. This is not the only RISC-V-based CPU available, but it is probably the one with the strongest backing, making China's push to switch to RISC-V look more credible. Nvidia is ensuring that China continues to rely on its GPUs by supporting RISC-V, which is why they are porting CUDA. However, this will also strengthen the viability of the RISC-V platform as a whole and therefore hurt x86 and ARM. The company also has experience with RISC-V; in 2016, it switched from its proprietary Falcon microprocessor, which was used as a logic controller in its GPUs, to RISC-V. This port also signals Nvidia's possible switch to RISC-V for its CPU cores. If the company can pull it off, it would bring a lot of savings from not having to pay for ARM move deals a major blow to AMD, Intel, and ARM first appeared on TheStreet on Jul 22, 2025 This story was originally reported by TheStreet on Jul 22, 2025, where it first appeared. Sign in to access your portfolio
Miami Herald
6 days ago
- Business
- Miami Herald
Nvidia move deals a major blow to AMD, Intel, and ARM
Nvidia climbed to become the largest company on the U.S. stock market. But how can it keep growing after hitting a $4 trillion market capitalization? Every company reaches its peak at some point. Are we witnessing Nvidia's, or can it hit $5 trillion? Don't miss the move: Subscribe to TheStreet's free daily newsletter That is a tricky question to answer, but the company thinks it can, and there is a lot more juice to be squeezed out of the artificial intelligence boom. The U.S. government recently reversed its export restrictions on Nvidia cards to China and assured the company that licenses will be granted. This change prompted many analysts to revamp the stock price target. Related: Nvidia-backed stock sinks on unexpected deal "China generated $17 billion in revenue for Nvidia in 2024, roughly 13% of the company's total revenue. In response to this news, we are lifting our NVDA price target to $200 from $185, and reiterating our One rating," writes veteran fund manager Chris Versace for TheStreet Pro. The company wasn't sitting down idly and waiting for this China miracle. It was making moves in Europe. Image source: Nvidia On July 17, Nvidia (NVDA) revealed on its blog that the University of Bristol launched its Isambard-AI supercomputer. Nvidia Grace Hopper Superchips power it and deliver 21 exaflops of AI performance. While this supercomputer's 5,448 GH200 Superchips are impressive, they can't match the Jupiter supercomputer announced in June. Jupiter is also powered by the Grace Hopper platform, with nearly 24,000 GH200 Superchips. With its expected performance of over 90 exaflops, it is the fastest in Europe. Finding new customers for new supercomputers must reach a slowdown at some point. Nvidia knows this, and it's betting on robotics being the next big boom. Related: Unexpected chip deal may reshape the semiconductor market Jetson Thor is Nvidia's upcoming platform for physical AI and humanoid robotics. According to the company, it will be able to deliver up to 2070 FP4 TFLOPS of AI compute. This platform features a 14-core Arm Neoverse-V3AE 64-bit CPU and a 2560-core NVIDIA Blackwell GPU. What is often neglected in the AI GPU hype is that you need a CPU to actually run the software that will then use GPUs for calculations. Nvidia doesn't have its own CPU architecture and has to rely on ARM for this embedded (Thor) platform. The same goes for its Grace Superchips; for the CPU part, they have 72 high-performance Arm v9 cores. Nvidia tried to acquire ARM but was prevented by regulatory problems. The primary reason for the acquisition may have been licensing costs. Nvidia Hardware Engineering VP Frans Sijstermans presented his "Enabling RISC-V Application Processors in NVIDIA Compute Platforms" at RISC-V Summit China, revealing that CUDA is coming to RISC-V. RISC-V is an open source instruction set architecture. This means anyone can make a CPU based on it, and the company does not have to pay for the license, although the company that makes its RISC-V compatible design can license its design. "This port will enable a RISC-V CPU to be the main application processor in a CUDA-based AI system," said RISC-V International. More Nvidia: Fund manager who predicted Nvidia stock rally reboots forecast on ChinaMajor analyst revamps Nvidia stock price target after China surpriseNvidia CEO hits Warren Buffett milestone The timing of this Nvidia move is very interesting. In an attempt to lower the country's dependence on Western-owned technology, China plans to issue guidance to boost the use of open-source RISC-V chips nationwide, reported Reuters in March. Also in March, XuanTie, part of Alibaba's DAMO Academy R&D operation, announced a C930 CPU design, reported The Register. This RISC-V-based design is available to license for system-on-chip makers. The company is marketing its CPU as something that can be used in servers, PCs, and autonomous cars. This is not the only RISC-V-based CPU available, but it is probably the one with the strongest backing, making China's push to switch to RISC-V look more credible. Nvidia is ensuring that China continues to rely on its GPUs by supporting RISC-V, which is why they are porting CUDA. However, this will also strengthen the viability of the RISC-V platform as a whole and therefore hurt x86 and ARM. The company also has experience with RISC-V; in 2016, it switched from its proprietary Falcon microprocessor, which was used as a logic controller in its GPUs, to RISC-V. This port also signals Nvidia's possible switch to RISC-V for its CPU cores. If the company can pull it off, it would bring a lot of savings from not having to pay for ARM licensing. Related: Meta delivers eye-popping AI announcement The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
19-07-2025
- Business
- Yahoo
3 reasons to buy Costco stock and steer clear of Target
Ahead of fresh retail sales data, Tematica Research's chief investment officer, Chris Versace, joins Market Domination with Josh Lipton to compare two top retail plays, Costco (COST) and Target (TGT), on today's Good Buy or Goodbye. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-07-2025
- Business
- Yahoo
3 reasons to buy Costco stock and steer clear of Target
Ahead of fresh retail sales data, Tematica Research's chief investment officer, Chris Versace, joins Market Domination with Josh Lipton to compare two top retail plays, Costco (COST) and Target (TGT), on today's Good Buy or Goodbye. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Related videos Top Stock Market Highlights of the Week: Centurion Accommodation REIT, NTT DC REIT, MAS, Marina Bay Sands and Singapore Exports Build Reliable Passive Income with These 3 Dependable Singapore Dividend Stocks Bitcoin bubble? How much more is it expected to rise in 2025? Get Smart: When the market looks good… maybe too good? Sign in to access your portfolio
