Tesla bull Ross Gerber has suggested that the tech sector’s earnings reports are indicative of substantial AI infrastructure spending.



What Happened: Gerber took to X, formerly Twitter, on Thursday to express his views on the tech sector’s earnings reports. He believes that the consistent trend of these reports points towards a significant increase in AI infrastructure spending. He also emphasized the potential benefits for companies involved in AI infrastructure.



Gerber’s post comes at a time when the tech sector is experiencing a surge in AI-related activities.



This surge is being driven by companies like Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, which have beaten Street consensus estimates in their March 2024 quarter earnings, led by AI and cloud computing space.



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&#34;Every earnings report from the tech sector points to lots of infrastructure spending on AI… Bodes very well for the bricks and mortar companies behind AI.&#34;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div>
<blockquote>Every earnings report from the tech sector points to lots of infrastructure spending on AI… Bodes very well for the bricks and mortar companies behind AI&gt; $NVDA $SMCI $DELL $ASML $META $TSLA— Ross Gerber (@GerberKawasaki) April 25, 2024</blockquote>
</div></figure>



Here’s how the stocks Gerber recommended have performed in 2024 so far, according to Benzinga Pro:



<figure class="wp-block-table"><table><tbody><tr><td>Company</td><td>Last trading price (as of last closing)</td><td>Returns (year-to-date)</td></tr><tr><td>Nvidia Corp.</td><td>$826.32</td><td>71.55%</td></tr><tr><td>Super Micro Computer Inc.</td><td>$787.40</td><td>175.85%</td></tr><tr><td>Dell Technologies Inc.</td><td>$124.91</td><td>67.01%</td></tr><tr><td>ASML Holding NV</td><td>$902.51</td><td>25.89%</td></tr><tr><td>Meta Platforms Inc.</td><td>$441.38</td><td>27.46%</td></tr><tr><td>Tesla Inc.</td><td>$170.18</td><td>-31.50%</td></tr></tbody></table></figure>



See Also: ‘Put It In The Louvre:’ Tech Bull Praises Google Parent Alphabet’s ‘Major Breakout Quarter,’ Says It Is ‘Now In The Party’



Why It Matters: Gerber’s tweet is particularly relevant given the recent surge in AI-related activities within the tech sector. Companies like Microsoft have been delivering impressive performances in the AI and cloud computing space, as highlighted by Wedbush’s Dan Ives.



&#34;Mad Money&#34; host Jim Cramer also termed Microsoft and Google's recent quarters &#34;spectacular.&#34;



Deepwater Asset Management’s Gene Munster applauded Google’s $100 billion revenue projection, saying it’s a sign that the company is “entering a new growth phase.”



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Read Next: As US Tightens Screws On Nvidia, Intel Chip Exports To China, Huawei’s Latest Phone Uses Made-In-China Chipset



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.



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Nvidia, Meta Among Tech Stocks That Stand To Benefit From 'Lots Of Infrastructure Spending On AI,' Says Tesla Bull Ross Gerber