When Nvidia announces a partnership to develop an artificial intelligence (AI) product, investors should take note. Given that most AI servers feature Nvidia GPUs, the company has deep insights into this sector of computing. In its Q3 conference call, Nvidia highlighted one of its collaborations aimed at expanding AI's reach: a partnership with Accenture (NYSE: ACN), the world's largest tech consulting firm. Accenture's Expertise in AI During the conference call, Nvidia CFO Colette Kress mentioned that Accenture has established a team of 30, 000 employees trained in Nvidia's AI technology. This makes Accenture exceptionally qualified to offer AI expertise to clients lacking in-house capabilities. While tech behemoths like Alphabet and Microsoft have extensive AI teams, industries such as banking, industrial, or oil typically do not and thus depend on consulting firms like Accenture. Accenture CEO Julie Sweet stated the following about generative AI: “In every industry, GenAI presents unique challenges or opportunities. Our extensive knowledge of both industry and technology allows us to maximize real value from GenAI for our clients. ” This insight encapsulates Accenture's AI investment thesis, suggesting it will gain as generative AI becomes mainstream.
However, as a vast consulting firm, Accenture's specialization spans multiple areas, not just AI. But does combining its core business with an AI focus create a compelling investment? Evaluating a High-Valuation Stock In its fiscal 2024 fourth quarter ending on August 31, Accenture reported new bookings of $20. 1 billion, with $1 billion attributable to generative AI. While it has contributed positively, AI bookings accounted for just 5% of the total, making it a smaller part of the broader investment landscape. Fiscal 2024 wasn't exceptional for Accenture, with conservative client spending leading to only a 3% revenue increase in Q4 and 1% for the year. For fiscal 2025, the outlook improves modestly, with expected revenue growth of 3% to 6% in local currencies. Being a global entity based in Ireland, Accenture is subject to currency fluctuations. Considering that many AI companies are experiencing rapid revenue growth, the question arises: Is Accenture a worthwhile investment?
Nvidia Partners with Accenture: AI Expansion and Investment Insights
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