U.S. Rep. Nancy Pelosi, D-California, has achieved significant financial gains from her recent investment in Nvidia Corp. (NASDAQ:NVDA), a prominent company in artificial intelligence (AI) and semiconductors. On Nov. 22, Pelosi acquired 50 call options for Nvidia with a strike price of $120, expiring on Dec. 20, 2024. The transaction value ranged between $1 million and $5 million. As of early 2024, Pelosi has reportedly made nearly $500,000 from this investment, surpassing her annual governmen
Making money isn’t the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?
If not this is a non story.
Last time she bet on Nvidia was right before she voted on passing the chips act which directly benefited Nvidia. Thats why this is a story.
I think that the concern would be less her vote – she’s just one vote – and more that she knows how legislators, more-broadly, are going to vote.
She also holds/held the power to coerce others to do the same.
Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.
Oh OK then, thanks for clarifying.
I am not saying politicians aren’t routinely filling their pockets with insider information but most people who have an interest in at ai could have seen this coming. I am simply not rich enough to join the game and make profit.
I knew about AI when it was all the rage years ago. Why has nvidia been surging now because of AI when it was already a thing long ago? Kinda seems like a made-up narrative to pump the stock market (of which tech stocks drives a lot of the movement).
All the rage years ago?
I mean sure i’ve had an interest myself for longer as i am a nerd, its always been really cool. But I remember very little enthusiasm by others.
If you asked anyone on the street about ai a few years ago they might know cleverbot but definitely no machine learning. No one had any reasonable expectation for real practical use cases and a intelligence explosion even while there where real practical uses already it was a scientific niche.
Openai has absolutely blown this up. Now even my mom knows what ai is. The intelligence explosion is so tangible people literally fear the end of the world.
Everyone can see that big money can be made using ai, every major company is now trying to get hold of some form of it.
Nvidia has profiles themselves as the only real option for ai compute. They are selling more industrial ai cards then consumer ones, demand keeps climbing. Its projected to keeping climbing so even right now if you wanna invest Nvidia is probably a super safe bet (no financial advice, personally i dont play that game at all)
You can absolutely agree with the reality of it. Competition is making progress, the potential for ai has been there for years but markets are much more about public perception then annything else.
Image recognition was the big killer app back then, and there were many stories about its use. Yes, OpenAI with their fancy-pants chat bot has brought out some more hype (mainly from idiotic CEOs who think they can replace everyone with a chat bot), but the demand for nvidia hardware was always there. Actually, with all the hype about AI, it has driven more effort toward creating hardware specifically for AI by other companies, which will eat into nvidia’s dominance in the area.
As for companies making money off of AI, we’re in the stage where they’re trying to figure that out. There were a couple stories about companies trying to charge a subscription fee to monetize AI, but that’s going to fail. As monetization schemes fail, that will pop the AI hype bubble. It’s expensive running these AI models.
She’s probably one of the ones who made a bunch of trades just before the first lockdown of the pan. Or her husband. I don’t trust any of 'em without full transparency.