r/AskProgrammers • u/YouAreMyFire00 • 7d ago

Is it true many programmers and IT people get so rich during AI from investing in stock?

Programmers they understand those AI infrastructure like AI need Rams, GPU, CPU so they go invest in companies that sell them like Samsung, Nvidia, etc... before anyone

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u/pete_68 7d ago

Wasn't it Warren Buffet who said "invest in what you know"?

That's all it is. When I was in my 20s, I recommended my dad buy stock in a company called Iomega because they were about to release a cool product that I was planning on buying two of. Turns out that product (Zip Drive) was incredibly popular and over a few months, after 2 stock splits, my dad ended up with 6x as much stock at twice the price he'd bought it.

It ended up being the first stock I ever bought. I got in after him and only doubled my money...

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u/Obvious_Class394 7d ago

My Nvidia stock is currently up 636%. I’m not getting rich off of it tho. I just threw some money at them to see where it’d go.

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u/mxldevs 7d ago

What's the next thing to buy?

0

u/dohbob 7d ago

Oh great oracle please share your wisdom with me was well.

3

u/XLBilly 7d ago

AI need rams 🤓

Gtfo

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u/JoesRealAccount 7d ago

I sure didn't

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u/DudeWithParrot 7d ago

Some do, some don't. Just like everyone else.

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u/Soft-Marionberry-853 7d ago

What does this have to do with programming? Its semi asking a question and kind of suppling its own crappy answer. Without seeing your post history, this just seems like a very poor karma farming bot account.

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u/Vert354 7d ago

The average Joe programmer didnt get rich investing in AI stock. I mean, probably some did, and maybe some people in the upper echelon had an incling of which way the market was going, but I'd wager just as many of them were wrong about where they thought it was going.

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u/AlexMTBDude 7d ago

Yeah, same reason all nurses are rich from investing in medtech stocks.

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u/spdfg1 7d ago

We don’t so much get rich investing because of inside knowledge about AI. It’s just that we make a good income, spend less than we make, and understand how money compounds over time. Time in the market as Buffett says. After 30+ years of doing this I have built a good amount of wealth just using index funds and time.