DBS: Nvidia's valuation remains low; AI stocks are far from a bubble

DBS Group Chief Investment Officer Hou Wey Fook said that Nvidia's price-to-earnings ratio and its projected 70% earnings growth next year indicate that AI-driven tech stocks are still far from a bubble. Aggregate data shows that Nvidia's current forward 12-month P/E ratio is 17 times. Hou compared this with Cisco Systems' valuation of about 100 times before the dot-com bubble burst.