Nvidia
delivered
once
again,
with
its
results
proving
it’s
showing
no
signs
of
slowing
down.
On
Wednesday,
it
reported
earnings
that
beat
estimates
,
with
its
sales
skyrocketing
as
companies
such
as
Google
,
Microsoft
,
Meta
,
Amazon
and
OpenAI
buy
billions
of
dollars
of
its
graphics
processing
units
amid
the
artificial
intelligence
boom.
Its
shares
jumped
in
extended
trading
but
given
the
“blowout
earnings,”
Nancy
Tengler
of
Laffer
Tengler
Investments
said
she
expected
to
see
a
higher
move.
“But
I
think
a
lot
of
that
has
been
priced
in
and
now
you’ll
see
it
trickle
out
as
it
has
been
into
other
players
in
in
this
space,”
the
chief
investment
officer
told
CNBC’s
”
Squawk
Box
Asia
”
on
Thursday.
“We
think
there’s
another
way
to
play
this,”
she
said,
adding
these
are
namely
buying
into
“old
economy
companies,”
as
well
as
data
center
names.
“Our
investment
theme
for
the
last
two
years
and
likely
for
the
next
five
is:
‘old
economy
companies
who
are
pivoting
to
digitization,
cloud
and
generative
AI
computing
and
the
suppliers
of
the
picks
and
shovels’,”
said
Tengler.
One
such
“old
economy”
name
is
Walmart
,
according
to
her.
“The
poster
child
is
Walmart.
They’ve
embraced
not
only
digital
solutions,
but
robotics,
generative
AI
and
their
ad
business
in
cloud
computing,
obviously
in
their
e-commerce
business,”
she
said.
Tengler
also
named
Carrier
,
which
she
considers
a
beneficiary
of
data
center
growth.
Carrier
offers
ventilation
and
air-conditioning
services,
and
cooling
is
“critical”
to
data
centers,
Tengler
pointed
out.
Data
centers
house
vast
amounts
of
computing
power
needed
for
AI
workloads,
and
that
need
is
set
to
grow
as
many
tech
companies
are
rapidly
developing
infrastructure
for
artificial
intelligence.
Large
language
models
require
a
lot
of
data
center
capacity.
Quanta
Services
,
which
builds
infrastructure
for
electric
power
and
renewables,
as
well
as
provides
utility
performance
services,
was
another
pick
from
Tengler.
“[Quanta]
is
a
name
that
is
important
to
building
up
the
grid
and
we
are
going
to
see
significant
growth
in
the
energy
around
generative
AI
and
that
means
…
even
though
[Quanta]
has
gone
up
quite
a
bit,
I
think
it
still
has
room
to
run
in
line
with
earnings,”
she
said.
Other
names
she’s
bullish
on
that
are
in
what
she
called
her
“best
portfolio
ideas”
list
include
Oracle
,
ServiceNow
,
Amazon,
Broadcom
,
and
Microsoft.
—
CNBC’s
Kif
Leswing
contributed
to
this
report
.
