Depending on whether you’re writing an empirical or humanities paper, you can use and customize these sentence structures for your thesis or dissertation conclusion.
This concludes our guide about how to write a thesis conclusion and dissertation conclusion. You can bookmark this article to revisit any thesis and dissertation conclusion examples. Once you write the conclusion and complete your paper, you’ll need to edit and proofread your thesis or dissertation. As experts in editing and proofreading services , we’d love to help you perfect your paper!
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In a short paper—even a research paper—you don’t need to provide an exhaustive summary as part of your conclusion. But you do need to make some kind of transition between your final body paragraph and your concluding paragraph. This may come in the form of a few sentences of summary. Or it may come in the form of a sentence that brings your readers back to your thesis or main idea and reminds your readers where you began and how far you have traveled.
So, for example, in a paper about the relationship between ADHD and rejection sensitivity, Vanessa Roser begins by introducing readers to the fact that researchers have studied the relationship between the two conditions and then provides her explanation of that relationship. Here’s her thesis: “While socialization may indeed be an important factor in RS, I argue that individuals with ADHD may also possess a neurological predisposition to RS that is exacerbated by the differing executive and emotional regulation characteristic of ADHD.”
In her final paragraph, Roser reminds us of where she started by echoing her thesis: “This literature demonstrates that, as with many other conditions, ADHD and RS share a delicately intertwined pattern of neurological similarities that is rooted in the innate biology of an individual’s mind, a connection that cannot be explained in full by the behavioral mediation hypothesis.”
At the beginning of your paper, you explain to your readers what’s at stake—why they should care about the argument you’re making. In your conclusion, you can bring readers back to those stakes by reminding them why your argument is important in the first place. You can also draft a few sentences that put those stakes into a new or broader context.
In the conclusion to her paper about ADHD and RS, Roser echoes the stakes she established in her introduction—that research into connections between ADHD and RS has led to contradictory results, raising questions about the “behavioral mediation hypothesis.”
She writes, “as with many other conditions, ADHD and RS share a delicately intertwined pattern of neurological similarities that is rooted in the innate biology of an individual’s mind, a connection that cannot be explained in full by the behavioral mediation hypothesis.”
After the “what” and the “so what,” you should leave your reader with some final thoughts. If you have written a strong introduction, your readers will know why you have been arguing what you have been arguing—and why they should care. And if you’ve made a good case for your thesis, then your readers should be in a position to see things in a new way, understand new questions, or be ready for something that they weren’t ready for before they read your paper.
In her conclusion, Roser offers two “now what” statements. First, she explains that it is important to recognize that the flawed behavioral mediation hypothesis “seems to place a degree of fault on the individual. It implies that individuals with ADHD must have elicited such frequent or intense rejection by virtue of their inadequate social skills, erasing the possibility that they may simply possess a natural sensitivity to emotion.” She then highlights the broader implications for treatment of people with ADHD, noting that recognizing the actual connection between rejection sensitivity and ADHD “has profound implications for understanding how individuals with ADHD might best be treated in educational settings, by counselors, family, peers, or even society as a whole.”
To find your own “now what” for your essay’s conclusion, try asking yourself these questions:
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Published on 9 September 2022 by Tegan George and Shona McCombes. Revised on 10 October 2022.
The conclusion is the very last part of your thesis or dissertation . It should be concise and engaging, leaving your reader with a clear understanding of your main findings, as well as the answer to your research question .
In it, you should:
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Discussion vs. conclusion, how long should your conclusion be, step 1: answer your research question, step 2: summarise and reflect on your research, step 3: make future recommendations, step 4: emphasise your contributions to your field, step 5: wrap up your thesis or dissertation, full conclusion example, conclusion checklist, frequently asked questions about conclusion sections.
While your conclusion contains similar elements to your discussion section , they are not the same thing.
Your conclusion should be shorter and more general than your discussion. Instead of repeating literature from your literature review , discussing specific research results , or interpreting your data in detail, concentrate on making broad statements that sum up the most important insights of your research.
As a rule of thumb, your conclusion should not introduce new data, interpretations, or arguments.
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Depending on whether you are writing a thesis or dissertation, your length will vary. Generally, a conclusion should make up around 5–7% of your overall word count.
An empirical scientific study will often have a short conclusion, concisely stating the main findings and recommendations for future research. A humanities topic or systematic review , on the other hand, might require more space to conclude its analysis, tying all the previous sections together in an overall argument.
Your conclusion should begin with the main question that your thesis or dissertation aimed to address. This is your final chance to show that you’ve done what you set out to do, so make sure to formulate a clear, concise answer.
An empirical thesis or dissertation conclusion may begin like this:
A case study –based thesis or dissertation conclusion may begin like this:
In the second example, the research aim is not directly restated, but rather added implicitly to the statement. To avoid repeating yourself, it is helpful to reformulate your aims and questions into an overall statement of what you did and how you did it.
Your conclusion is an opportunity to remind your reader why you took the approach you did, what you expected to find, and how well the results matched your expectations.
To avoid repetition , consider writing more reflectively here, rather than just writing a summary of each preceding section. Consider mentioning the effectiveness of your methodology , or perhaps any new questions or unexpected insights that arose in the process.
You can also mention any limitations of your research, but only if you haven’t already included these in the discussion. Don’t dwell on them at length, though – focus on the positives of your work.
You may already have made a few recommendations for future research in your discussion section, but the conclusion is a good place to elaborate and look ahead, considering the implications of your findings in both theoretical and practical terms.
When making recommendations for further research, be sure not to undermine your own work. Relatedly, while future studies might confirm, build on, or enrich your conclusions, they shouldn’t be required for your argument to feel complete. Your work should stand alone on its own merits.
Just as you should avoid too much self-criticism, you should also avoid exaggerating the applicability of your research. If you’re making recommendations for policy, business, or other practical implementations, it’s generally best to frame them as ‘shoulds’ rather than ‘musts’. All in all, the purpose of academic research is to inform, explain, and explore – not to demand.
Make sure your reader is left with a strong impression of what your research has contributed to the state of your field.
Some strategies to achieve this include:
Again, avoid simply repeating what you’ve already covered in the discussion in your conclusion. Instead, pick out the most important points and sum them up succinctly, situating your project in a broader context.
The end is near! Once you’ve finished writing your conclusion, it’s time to wrap up your thesis or dissertation with a few final steps:
Here is an example of how you can write your conclusion section. Notice how it includes everything mentioned above:
V. Conclusion
The current research aimed to identify acoustic speech characteristics which mark the beginning of an exacerbation in COPD patients.
The central questions for this research were as follows: 1. Which acoustic measures extracted from read speech differ between COPD speakers in stable condition and healthy speakers? 2. In what ways does the speech of COPD patients during an exacerbation differ from speech of COPD patients during stable periods?
All recordings were aligned using a script. Subsequently, they were manually annotated to indicate respiratory actions such as inhaling and exhaling. The recordings of 9 stable COPD patients reading aloud were then compared with the recordings of 5 healthy control subjects reading aloud. The results showed a significant effect of condition on the number of in- and exhalations per syllable, the number of non-linguistic in- and exhalations per syllable, and the ratio of voiced and silence intervals. The number of in- and exhalations per syllable and the number of non-linguistic in- and exhalations per syllable were higher for COPD patients than for healthy controls, which confirmed both hypotheses.
However, the higher ratio of voiced and silence intervals for COPD patients compared to healthy controls was not in line with the hypotheses. This unpredicted result might have been caused by the different reading materials or recording procedures for both groups, or by a difference in reading skills. Moreover, there was a trend regarding the effect of condition on the number of syllables per breath group. The number of syllables per breath group was higher for healthy controls than for COPD patients, which was in line with the hypothesis. There was no effect of condition on pitch, intensity, center of gravity, pitch variability, speaking rate, or articulation rate.
This research has shown that the speech of COPD patients in exacerbation differs from the speech of COPD patients in stable condition. This might have potential for the detection of exacerbations. However, sustained vowels rarely occur in spontaneous speech. Therefore, the last two outcome measures might have greater potential for the detection of beginning exacerbations, but further research on the different outcome measures and their potential for the detection of exacerbations is needed due to the limitations of the current study.
I have clearly and concisely answered the main research question .
I have summarized my overall argument or key takeaways.
I have mentioned any important limitations of the research.
I have given relevant recommendations .
I have clearly explained what my research has contributed to my field.
I have not introduced any new data or arguments.
You've written a great conclusion! Use the other checklists to further improve your dissertation.
In a thesis or dissertation, the discussion is an in-depth exploration of the results, going into detail about the meaning of your findings and citing relevant sources to put them in context.
The conclusion is more shorter and more general: it concisely answers your main research question and makes recommendations based on your overall findings.
While it may be tempting to present new arguments or evidence in your thesis or disseration conclusion , especially if you have a particularly striking argument you’d like to finish your analysis with, you shouldn’t. Theses and dissertations follow a more formal structure than this.
All your findings and arguments should be presented in the body of the text (more specifically in the discussion section and results section .) The conclusion is meant to summarize and reflect on the evidence and arguments you have already presented, not introduce new ones.
For a stronger dissertation conclusion , avoid including:
Your conclusion should leave the reader with a strong, decisive impression of your work.
The conclusion of your thesis or dissertation shouldn’t take up more than 5-7% of your overall word count.
The conclusion of your thesis or dissertation should include the following:
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George, T. & McCombes, S. (2022, October 10). How to Write a Dissertation Conclusion | Checklist and Examples. Scribbr. Retrieved 9 June 2024, from https://www.scribbr.co.uk/thesis-dissertation/conclusion/
Other students also liked, how to write a thesis or dissertation introduction, how to write a discussion section | tips & examples, how to write an abstract | steps & examples.
This template covers all the core components required in the conclusion chapter of a typical dissertation, thesis or research project:
The purpose of each section is explained in plain language, followed by an overview of the key elements that you need to cover. The template also includes practical examples to help you understand exactly what’s required, along with links to additional free resources (articles, videos, etc.) to help you along your research journey.
The cleanly formatted Google Doc can be downloaded as a fully editable MS Word Document (DOCX format), so you can use it as-is or convert it to LaTeX.
PS – if you’d like a high-level template for the entire thesis, you can we’ve got that too .
What format is the template (doc, pdf, ppt, etc.).
The conclusion chapter template is provided as a Google Doc. You can download it in MS Word format or make a copy to your Google Drive. You’re also welcome to convert it to whatever format works best for you, such as LaTeX or PDF.
This template can be used for a dissertation, thesis or research project at any level of study. Doctoral-level projects typically require a lengthier, more comprehensive conclusion, but the structure will typically remain the same. Again, be sure to check your university’s requirements and norms in terms of document structure.
The conclusion chapter template follows the standard format for academic research projects, which means it will be suitable for the majority of dissertations, theses and research projects (especially those within the sciences).
Keep in mind that the exact requirements for the conclusion chapter/section will vary between universities and degree programs. For example, your university may require that the discussion chapter and conclusion chapter are merged into one (this is common for shorter projects). So, be sure to double-check your university’s requirements before you finalize your structure.
This can vary a fair deal, depending on the level of study (undergrad, Master or Doctoral), the field of research, as well as your university’s specific requirements. Therefore, it’s best to check with your university or review past dissertations from your program to get an accurate estimate.
Yes, you’re welcome to share this template in its original format (no editing allowed). If you want to post about it on your blog or social media, please reference this page as your source.
Yes, we do. We are constantly developing our collection of free resources to help students complete their dissertations and theses. You can view all of our template resources here .
Dissertation Genius
December 10, 2016 by Dissertation Genius
In this blog post, you’ll learn exactly how to write the last chapter of your doctoral dissertation. In particular, you will get oriented with the overall goals of the conclusion chapter. Then, you’ll be taught on how to go about writing the chapter itself. Finally, you will be given guidance on what things to avoid in the ever-important final chapter of your dissertation.
Before going into how to actually write the conclusion chapter of your dissertation, it’s important to review its purpose. Regardless of what discipline you are in, there are certain messages you always want your readers to absorb after reading your conclusion chapter. Basically, your conclusion should always: Give a general overview of the important contributions of your work – Make it absolutely clear for your committee and the general reader the original contributions of your work and where they are situated with respect to the rest of your research field. A good way to do this is to simply display your contributions in a bulleted list.
Summarize the main points of your various chapters – Especially if you aim to get your work published, your conclusion should always strive to be an ‘executive summary’ of your work. Not every reader will be interested in reading your entire work. This way, you will have this chapter ready to give them a brief (yet comprehensive) overview of the dissertation.
Recommendations – You should always include at least a paragraph on the practical implications resulting from your findings. This is extremely valuable for yourself, the committee, and the general reader. You can be rather flexible with your recommendations as long as they are relevant and derived from the findings of your dissertation research. For example, you can list highly-specific recommendations and steps to be followed or you can list more general recommendations guiding the reader towards certain ideas and principles to follow.
Future Work – No matter how much you have done with your dissertation research, it will never truly be finished. There will always be lingering question marks and open ends. By no means does this indicate your work is incomplete On the contrary, no PhD work is ever complete and, in fact, a good dissertation is one that sparks a high level of general interest and motivates further research in a particular discipline.
Now that you have a good grasp of what the general outline should be of your conclusion, it is important to look at how to actually write it. The most important principle to keep in mind while writing your dissertation conclusion is reflection . To illustrate:
These are what you must constantly ask yourself while you are writing your dissertation conclusion.
Usually, you should start writing your conclusion by first taking notes, and you should do this while proofreading the initial draft of your work . In general, you should use the following approach:
In general, there are three main pitfalls you should always avoid when writing the conclusion for your dissertation.
Protracted and Rambling Conclusion – A long and protracted conclusion is when you repeat yourself unnecessarily (without adding anything to what you are mentioning) about points you already mentioned in your previous chapters before the conclusion.
Short Conclusion – This is actually an improvement to a long and rambling conclusion, which wastes valuable time on the part of your audience. However, a conclusion that is too short also rambles about facts without coming to a logical conclusion, and does all this using less words and missing vital points/arguments.
Implausible Conclusion – Often times, doctoral students can come to wild conclusions that boggle the mind. They make claims that have absolutely no logical link to the evidence in their research, or that link is very weak. For example, many PhD students (in their very limited small-scale study) make wild assertions that the results of their study should be adopted by public policy-makers, governmental officials, and the like. If you make a list of unsubstantiated claims, you will be wasting a lot of hard work for nothing. Simply stay humble and avoid doing this!
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The conclusion is intended to help the reader understand why your research should matter to them after they have finished reading the paper. A conclusion is not merely a summary of the main topics covered or a re-statement of your research problem, but a synthesis of key points derived from the findings of your study and, if applicable, where you recommend new areas for future research. For most college-level research papers, two or three well-developed paragraphs is sufficient for a conclusion, although in some cases, more paragraphs may be required in describing the key findings and their significance.
Conclusions. The Writing Center. University of North Carolina; Conclusions. The Writing Lab and The OWL. Purdue University.
A well-written conclusion provides you with important opportunities to demonstrate to the reader your understanding of the research problem. These include:
Bunton, David. “The Structure of PhD Conclusion Chapters.” Journal of English for Academic Purposes 4 (July 2005): 207–224; Conclusions. The Writing Center. University of North Carolina; Kretchmer, Paul. Twelve Steps to Writing an Effective Conclusion. San Francisco Edit, 2003-2008; Conclusions. The Writing Lab and The OWL. Purdue University; Assan, Joseph. "Writing the Conclusion Chapter: The Good, the Bad and the Missing." Liverpool: Development Studies Association (2009): 1-8.
I. General Rules
The general function of your paper's conclusion is to restate the main argument . It reminds the reader of the strengths of your main argument(s) and reiterates the most important evidence supporting those argument(s). Do this by clearly summarizing the context, background, and necessity of pursuing the research problem you investigated in relation to an issue, controversy, or a gap found in the literature. However, make sure that your conclusion is not simply a repetitive summary of the findings. This reduces the impact of the argument(s) you have developed in your paper.
When writing the conclusion to your paper, follow these general rules:
Consider the following points to help ensure your conclusion is presented well:
The conclusion also provides a place for you to persuasively and succinctly restate the research problem, given that the reader has now been presented with all the information about the topic . Depending on the discipline you are writing in, the concluding paragraph may contain your reflections on the evidence presented. However, the nature of being introspective about the research you have conducted will depend on the topic and whether your professor wants you to express your observations in this way. If asked to think introspectively about the topics, do not delve into idle speculation. Being introspective means looking within yourself as an author to try and understand an issue more deeply, not to guess at possible outcomes or make up scenarios not supported by the evidence.
II. Developing a Compelling Conclusion
Although an effective conclusion needs to be clear and succinct, it does not need to be written passively or lack a compelling narrative. Strategies to help you move beyond merely summarizing the key points of your research paper may include any of the following:
III. Problems to Avoid
Failure to be concise Your conclusion section should be concise and to the point. Conclusions that are too lengthy often have unnecessary information in them. The conclusion is not the place for details about your methodology or results. Although you should give a summary of what was learned from your research, this summary should be relatively brief, since the emphasis in the conclusion is on the implications, evaluations, insights, and other forms of analysis that you make. Strategies for writing concisely can be found here .
Failure to comment on larger, more significant issues In the introduction, your task was to move from the general [the field of study] to the specific [the research problem]. However, in the conclusion, your task is to move from a specific discussion [your research problem] back to a general discussion framed around the implications and significance of your findings [i.e., how your research contributes new understanding or fills an important gap in the literature]. In short, the conclusion is where you should place your research within a larger context [visualize your paper as an hourglass--start with a broad introduction and review of the literature, move to the specific analysis and discussion, conclude with a broad summary of the study's implications and significance].
Failure to reveal problems and negative results Negative aspects of the research process should never be ignored. These are problems, deficiencies, or challenges encountered during your study. They should be summarized as a way of qualifying your overall conclusions. If you encountered negative or unintended results [i.e., findings that are validated outside the research context in which they were generated], you must report them in the results section and discuss their implications in the discussion section of your paper. In the conclusion, use negative results as an opportunity to explain their possible significance and/or how they may form the basis for future research.
Failure to provide a clear summary of what was learned In order to be able to discuss how your research fits within your field of study [and possibly the world at large], you need to summarize briefly and succinctly how it contributes to new knowledge or a new understanding about the research problem. This element of your conclusion may be only a few sentences long.
Failure to match the objectives of your research Often research objectives in the social and behavioral sciences change while the research is being carried out. This is not a problem unless you forget to go back and refine the original objectives in your introduction. As these changes emerge they must be documented so that they accurately reflect what you were trying to accomplish in your research [not what you thought you might accomplish when you began].
Resist the urge to apologize If you've immersed yourself in studying the research problem, you presumably should know a good deal about it [perhaps even more than your professor!]. Nevertheless, by the time you have finished writing, you may be having some doubts about what you have produced. Repress those doubts! Don't undermine your authority as a researcher by saying something like, "This is just one approach to examining this problem; there may be other, much better approaches that...." The overall tone of your conclusion should convey confidence to the reader about the study's validity and realiability.
Assan, Joseph. "Writing the Conclusion Chapter: The Good, the Bad and the Missing." Liverpool: Development Studies Association (2009): 1-8; Concluding Paragraphs. College Writing Center at Meramec. St. Louis Community College; Conclusions. The Writing Center. University of North Carolina; Conclusions. The Writing Lab and The OWL. Purdue University; Freedman, Leora and Jerry Plotnick. Introductions and Conclusions. The Lab Report. University College Writing Centre. University of Toronto; Leibensperger, Summer. Draft Your Conclusion. Academic Center, the University of Houston-Victoria, 2003; Make Your Last Words Count. The Writer’s Handbook. Writing Center. University of Wisconsin Madison; Miquel, Fuster-Marquez and Carmen Gregori-Signes. “Chapter Six: ‘Last but Not Least:’ Writing the Conclusion of Your Paper.” In Writing an Applied Linguistics Thesis or Dissertation: A Guide to Presenting Empirical Research . John Bitchener, editor. (Basingstoke,UK: Palgrave Macmillan, 2010), pp. 93-105; Tips for Writing a Good Conclusion. Writing@CSU. Colorado State University; Kretchmer, Paul. Twelve Steps to Writing an Effective Conclusion. San Francisco Edit, 2003-2008; Writing Conclusions. Writing Tutorial Services, Center for Innovative Teaching and Learning. Indiana University; Writing: Considering Structure and Organization. Institute for Writing Rhetoric. Dartmouth College.
Don't Belabor the Obvious!
Avoid phrases like "in conclusion...," "in summary...," or "in closing...." These phrases can be useful, even welcome, in oral presentations. But readers can see by the tell-tale section heading and number of pages remaining that they are reaching the end of your paper. You'll irritate your readers if you belabor the obvious.
Assan, Joseph. "Writing the Conclusion Chapter: The Good, the Bad and the Missing." Liverpool: Development Studies Association (2009): 1-8.
New Insight, Not New Information!
Don't surprise the reader with new information in your conclusion that was never referenced anywhere else in the paper. This why the conclusion rarely has citations to sources. If you have new information to present, add it to the discussion or other appropriate section of the paper. Note that, although no new information is introduced, the conclusion, along with the discussion section, is where you offer your most "original" contributions in the paper; the conclusion is where you describe the value of your research, demonstrate that you understand the material that you’ve presented, and position your findings within the larger context of scholarship on the topic, including describing how your research contributes new insights to that scholarship.
Assan, Joseph. "Writing the Conclusion Chapter: The Good, the Bad and the Missing." Liverpool: Development Studies Association (2009): 1-8; Conclusions. The Writing Center. University of North Carolina.
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A dissertation conclusion serves as the final chapter and is often the last thing the reader will see. It should provide a concise summary of the research project, including the research questions or hypotheses, the methods used to conduct the research, and the key findings and conclusions. The conclusion section should also discuss the implications of the research, including its significance for the field and any practical applications of the findings.
Are you a PhD, doctorate, or bachelor student looking forward to writing your dissertation/thesis conclusion and don't know where to start? Stop worrying — help is here. Continue reading this blog post to gain an idea on how to write a conclusion for a thesis or dissertation. In this article, we will discuss what a dissertation conclusion is, its length, and what it should include. Our dissertation services also provided examples, and explained some typical mistakes you have to avoid.
So, what is a thesis conclusion? It is a concluding chapter in a dissertation or thesis paper. It is the last section of an academic work, carefully written to summarize the information discussed in a document and offer readers insight into what the research has achieved. Your dissertation or thesis conclusion should be well-drafted as it is a reference point that people will remember most. The purpose of dissertation conclusion is to give those reading a sense of closure and reiterate any critical issues discussed. Each conclusion for dissertation should be concise, clear, and definitive. Also, its aim is to offer recommendations for further investigation as well as give readers an understanding of the dissertation discussion chapter .
The conclusion of a thesis or a dissertation is a long chapter — not one single sentence but a whole page or more. Generally, it should be 5–7% of the overall word count. The length of a thesis or dissertation conclusion chapter depends on several factors, such as your academic field, research topic , and stated number of pages. However, it can vary depending on other circumstances. Indeed, you should always refer to each set of your university guidelines for writing conclusions. It's important to note that this section ought not to introduce any new information and be a summary of the research findings. Also, every dissertation conclusion must not be too long as it can distract from other aspects of your thesis. Make sure that you provide a balanced summary and avoid repeating yourself. Lastly, it has to be long enough to discuss its implications for future studies.
Writing a thesis conclusion can be challenging, but every student needs to understand how to create it, as this is one of the most critical parts of your Ph.D. work. Below is the list of things every dissertation conclusion structure should include:
Hopefully, these tips on writing a conclusion chapter for your thesis or dissertation will help you finish your work confidently. All these components should be present when writing a conclusion for thesis or dissertation. Additionally, ensure that you do not repeat yourself. Lastly, keep your length appropriate and based on your university guidelines.
When writing this chapter, you should ensure its content is clear and concise. Equipping yourself with some knowledge of how to write a conclusion for a dissertation or thesis is imperative, as it will help you keep your piece organized, logical, and interesting. This chapter is the last part of your work that your professors or readers will read, and it should make a lasting impression on them. Below is a step-by-step instruction on how to write a dissertation conclusion section.
While writing a dissertation conclusion, your first step is to restate the research question offered in your dissertation introduction and reveal the answer. It is essential to do this in your conclusion in thesis or dissertation because it helps readers be aware of every primary point you were trying to achieve in writing. In addition, restating available research questions in your conclusion in a dissertation or thesis will also make people understand the significance of your inquiry. In other words, it should remind people of the original purpose of writing. Provide further insights into a topic when answering each research question. In addition, responses must be related to your dissertation results section and offer evidence for any conclusions you made in your study. When writing a dissertation conclusion chapter, you ought to be able to give a meaningful response to the study question that adds value to your work. Keeping replies short, concise, and clear will help you to avoid writing irrelevant content. Below is an example of how to start a dissertation conclusion:
In conclusion, this research has successfully answered the primary research question: how does gender discrimination impact job satisfaction in the workplace? The study determined that gender discrimination directly impacts job satisfaction and can make employees feel demoralized, undervalued, and frustrated. Furthermore, employers must create policies and initiatives promoting workplace inclusion and equality. It can help employees feel valued, respected, and satisfied.
The next element in your conclusion section is summarizing the main points of your dissertation. In this section, students need to reflect on their study and mention critical findings and the methodology's effectiveness. Straightforwardly compose your summary and ensure you use your own words to write a conclusion in a dissertation. Avoid copying and pasting sentences from other parts of your work to evade plagiarism and repetition. In concluding a dissertation, each written summary should include findings, results, data, and additional relevant literature. The following is an example of how to summarize a dissertation:
The study aimed to research the effects of gender discrimination on job satisfaction in the workplace. A survey was conducted on 106 participants across different industries using qualitative and quantitative research methods, allowing data collection from employees. Findings revealed that gender discrimination has a direct impact and can lead to feeling demoralized, undervalued, and frustrated. On the other hand, the research found that inclusivity and equality initiatives can help employees feel better about their job roles. Therefore, it is essential that organizations take adequate steps to create a more inclusive and equitable workstation.
After summarizing your key points, the next step to writing a dissertation conclusion is to explain why your research was valuable. Here you should provide readers with an additional perspective of the study to better understand the importance of your study. When it's time to write a conclusion to a thesis paper or dissertation, you must explain what makes it worthwhile to any academic or scientific community. It can include topics such as answering a critical research question, using unique methods to explore an issue, or discovering something new about an existing topic. You should note that you have to provide further recommendations to help improve the research. Composing a dissertation conclusion shows how your work has impacted the field of study, either in progress or resolving an existing problem. It is essential to demonstrate how your study contributes to future studies and influences society or policymaking. Doing this is crucial in your dissertation conclusion chapter as it shows readers the importance of research in that field and validates what you have achieved throughout your investigation. Also, explaining some study implications to society will help people understand why this topic is valuable and relevant. Below you can find an example of how to write contributions in a dissertation conclusion:
The research discussed in this work demonstrates that gender discrimination directly impacts job satisfaction in the workplace. The results of this study have several implications for society, most notably for employers, to create policies and initiatives to promote workplace inclusion. In addition, it's valuable to organizations to help them make more equitable and inclusive offices, to academics to inform their research on diversity and inclusivity, and to policymakers to develop initiatives to reduce gender discrimination in places of work. The research provides valuable insight to inform future studies on this topic and serves to highlight the need to create policies to protect employees from gender discrimination better.
If you experience difficulties with any section of your PhD work, don’t hesitate to ask our professional academic writers for thesis help.
When writing a thesis or dissertation conclusion, mentioning your study's limitations is imperative. It includes discussing any issues you encountered in collecting data, constraints that limited your research, and specific parameters. Citing these shortcomings can help provide insight into why certain elements may not be included in your work and explain any discrepancies your readers might have noticed and, hence, missing in your conclusion chapter. Additionally, writing about any drawbacks can deliver an opportunity to offer further suggestions for future studies and make recommendations on how best to address these uncovered issues. In concluding a dissertation, constraints should not be seen as unfavorable but rather as an additional chance to deliver more understanding of your investigation. Limitations in a thesis conclusion example can look as follows:
The study is subject to some limitations, such as small sample size and limited scope of data collection. Moreover, due to time constraints, this research did not address some potential implications of gender discrimination in other areas, such as pay, career development, and career advancement. Future studies could further explore these topics in more depth to gain a more comprehensive understanding of their effects on job satisfaction.
When writing about identified limitations of the research, you demonstrate to readers that you considered critical shortcomings and that you are aware of available potential issues. That will provide insight into addressing these limitations and help display your researching and writing credibility.
Including recommendations is an integral part of writing every conclusion of a dissertation. In this section, you can provide insight into how to address any issues you have uncovered in your study and make suggestions for future research. When including recommendations, you should first give an overview of the implications of your research and then link it to how you may deal with them. A bachelor conclusion ought to consist of advice for students to guide their future writing. Offer insights for further investigation based on data results and analysis of literature review . Below is an example of how to write dissertation conclusion recommendations:
The research discussed in this study provides several implications for employers, academics, and policymakers. For employers, the results of this study suggest that they should create policies and initiatives to promote workplace inclusion and diversity. Academics can use these findings to inform their research on gender discrimination in the workplace, and policymakers can develop initiatives to reduce it. Furthermore, future studies should explore other potential implications of gender discrimination in the workplace, such as pay, career development, and career advancement. Doing so would provide a more comprehensive understanding of the issue and potential solutions.
The end of conclusion final chapter will close with a summary of the study. Wrapping up your dissertation or thesis conclusions is an excellent way to leave long-lasting impressions on your readers and ensure they remember all critical points of your research. You should summarize key points from previous sections and how they contribute to your overall context. When writing the conclusion chapter of a dissertation, the summary should be brief but comprehensive. Moreover, these findings can offer an innovative perspective on how to conclude a thesis or a dissertation. It provides comprehensive insights into outcomes and their relevance in today's world. Here is how to wrap up a conclusion of a dissertation example:
Overall, the findings from this research suggest that gender discrimination in the workplace has adverse effects on job satisfaction. Such discrimination often takes the form of unequal pay, career development opportunities, and access to promotions. Employers should take action to create policies that promote workplace inclusion and diversity to address this problem. Additionally, academics and policymakers should further explore the implications of gender discrimination in the workplace and develop initiatives to reduce it. The research provides a valuable starting point for understanding this complex issue and offers insight into potential solutions.
Before writing a thesis or dissertation conclusion, you are encouraged to check at least two examples. These instances can provide insights on effectively linking your key findings with possible implications for future studies. In addition, you may use these examples as guides to writing your dissertation conclusions. Attached below is a thesis conclusion example sample.
Thesis paper conclusion example
Dissertation conclusion example
Mistakes are inevitable when writing conclusions in a dissertation, but you can avoid them through careful proofreading and editing. Including new information or data in your dissertation or thesis conclusion chapter is one such mistake. The chapter should only incorporate information or data already mentioned and discussed in other preceding body paragraphs. How not to write a dissertation conclusion can be seen in complex language, lengthy sentences, and confusing grammar. In addition, one should evade making unsubstantiated claims or generalizations not supported by research findings. Shun writing phrases or any argument considered jargon. Lastly, ensuring that the conclusion chapter in a dissertation answers the research question and that you have provided sufficient evidence to support your conclusions is essential. Therefore, we simply recommend that you review and proofread it before submission. Following these tips mentioned above and examples of dissertation or thesis conclusions should help you write effectively.
Writing a conclusion to a thesis paper or dissertation can be daunting because there is a lot of pressure to ensure you wrap up all the key points and tie together any loose ends. Checklists are helpful guides. The reason is that they provide practical tips on how to write dissertation conclusions by breaking each writing process down into manageable steps. Below is a checklist of important things you should keep in mind and follow when writing any conclusion:
The article discussed how to write the conclusion of a dissertation or thesis writing. It has outlined some critical steps and provided a checklist that you can use as a practical guide. Reasonable inferences require clear objectives, knowing the appropriate structure, addressing any limitations within your work, summarizing key points, providing recommendations for further research, and citing sources appropriately. Also, we offered some samples of how to write a thesis conclusion example. Following these steps will ensure that you conclude your dissertation or thesis writing successfully. Finally, proofread and edit your writing to provide high-quality outcome. All these tips will help you in writing a thesis or dissertation conclusion chapter that is effective and comprehensive.
Keep in mind that our expert writers are always here to support you! They can assist in preparing any section of your study. While we are assisting you with writing, you are relaxing your mind or focusing on other important tasks!
1. how to write a good thesis conclusion.
When writing every thesis conclusion, it's essential to focus on summarizing the key points, providing implications to that broader field, addressing any limitations, and making recommendations for further study. Additionally, it should be concise, clear, logical, and coherent. Finally, it's crucial to proofread and edit it to ensure its high quality.
Beginning each dissertation's concluding chapter is best done by restating the research question, as it provides the link between your introduction, research objectives, and conclusion. That allows an individual to transition smoothly into summarizing all main points from the discussion. For you to start a dissertation conclusion chapter effectively, it is essential to understand the purpose of writing it in the first place.
The difference between a discussion and a conclusion is in the depth of exploration. A discussion is a detailed assessment of the results, while a conclusion is shorter and more general. The discussion section will usually include a detailed analysis of the data collected, while the conclusion section will often provide an overview of the key points and implications. Additionally, this part will offer recommendations for further research.
No, including new data in the conclusion of a dissertation is not advisable. This section should summarize the research objectives, findings, and implications. Adding new data would not be appropriate as it may create confusion or inconsistency throughout your research. Conversely, it is prudent to summarize every content your work addresses.
The end of a dissertation or a thesis should be memorable and end on a high note. One way to accomplish this is by including something unforgettable, such as a question, warning, or call to action. It will give every reader something to think about and engage in further discussion.
Joe Eckel is an expert on Dissertations writing. He makes sure that each student gets precious insights on composing A-grade academic writing.
What this handout is about.
This handout will explain the functions of conclusions, offer strategies for writing effective ones, help you evaluate conclusions you’ve drafted, and suggest approaches to avoid.
Introductions and conclusions can be difficult to write, but they’re worth investing time in. They can have a significant influence on a reader’s experience of your paper.
Just as your introduction acts as a bridge that transports your readers from their own lives into the “place” of your analysis, your conclusion can provide a bridge to help your readers make the transition back to their daily lives. Such a conclusion will help them see why all your analysis and information should matter to them after they put the paper down.
Your conclusion is your chance to have the last word on the subject. The conclusion allows you to have the final say on the issues you have raised in your paper, to synthesize your thoughts, to demonstrate the importance of your ideas, and to propel your reader to a new view of the subject. It is also your opportunity to make a good final impression and to end on a positive note.
Your conclusion can go beyond the confines of the assignment. The conclusion pushes beyond the boundaries of the prompt and allows you to consider broader issues, make new connections, and elaborate on the significance of your findings.
Your conclusion should make your readers glad they read your paper. Your conclusion gives your reader something to take away that will help them see things differently or appreciate your topic in personally relevant ways. It can suggest broader implications that will not only interest your reader, but also enrich your reader’s life in some way. It is your gift to the reader.
One or more of the following strategies may help you write an effective conclusion:
We consulted these works while writing this handout. This is not a comprehensive list of resources on the handout’s topic, and we encourage you to do your own research to find additional publications. Please do not use this list as a model for the format of your own reference list, as it may not match the citation style you are using. For guidance on formatting citations, please see the UNC Libraries citation tutorial . We revise these tips periodically and welcome feedback.
Douglass, Frederick. 1995. Narrative of the Life of Frederick Douglass, an American Slave, Written by Himself. New York: Dover.
Hamilton College. n.d. “Conclusions.” Writing Center. Accessed June 14, 2019. https://www.hamilton.edu//academics/centers/writing/writing-resources/conclusions .
Holewa, Randa. 2004. “Strategies for Writing a Conclusion.” LEO: Literacy Education Online. Last updated February 19, 2004. https://leo.stcloudstate.edu/acadwrite/conclude.html.
You may reproduce it for non-commercial use if you use the entire handout and attribute the source: The Writing Center, University of North Carolina at Chapel Hill
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Writing a conclusion.
A conclusion is an important part of the paper; it provides closure for the reader while reminding the reader of the contents and importance of the paper. It accomplishes this by stepping back from the specifics in order to view the bigger picture of the document. In other words, it is reminding the reader of the main argument. For most course papers, it is usually one paragraph that simply and succinctly restates the main ideas and arguments, pulling everything together to help clarify the thesis of the paper. A conclusion does not introduce new ideas; instead, it should clarify the intent and importance of the paper. It can also suggest possible future research on the topic.
It is important to remind the reader of the thesis of the paper so he is reminded of the argument and solutions you proposed.
Think of the main points as puzzle pieces, and the conclusion is where they all fit together to create a bigger picture. The reader should walk away with the bigger picture in mind.
Make sure that the paper places its findings in the context of real social change.
Make sure the reader has a distinct sense that the paper has come to an end. It is important to not leave the reader hanging. (You don’t want her to have flip-the-page syndrome, where the reader turns the page, expecting the paper to continue. The paper should naturally come to an end.)
No new ideas should be introduced in the conclusion. It is simply a review of the material that is already present in the paper. The only new idea would be the suggesting of a direction for future research.
As addressed in my analysis of recent research, the advantages of a later starting time for high school students significantly outweigh the disadvantages. A later starting time would allow teens more time to sleep--something that is important for their physical and mental health--and ultimately improve their academic performance and behavior. The added transportation costs that result from this change can be absorbed through energy savings. The beneficial effects on the students’ academic performance and behavior validate this decision, but its effect on student motivation is still unknown. I would encourage an in-depth look at the reactions of students to such a change. This sort of study would help determine the actual effects of a later start time on the time management and sleep habits of students.
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Note: The APA Publication Manual, 7 th Edition specifies different formatting conventions for student and professional papers (i.e., papers written for credit in a course and papers intended for scholarly publication). These differences mostly extend to the title page and running head. Crucially, citation practices do not differ between the two styles of paper.
However, for your convenience, we have provided two versions of our APA 7 sample paper below: one in student style and one in professional style.
Note: For accessibility purposes, we have used "Track Changes" to make comments along the margins of these samples. Those authored by [AF] denote explanations of formatting and [AWC] denote directions for writing and citing in APA 7.
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Workflow management systems (WMSs) are commonly used to organize/automate sequences of tasks as workflows to accelerate scientific discoveries. During complex workflow modeling, a local interactive workflow environment is desirable, as users usually rely on their rich, local environments for fast prototyping and refinements before they consider using more powerful computing resources.
This dissertation delves into the innovative development of the CyberWater framework based on Workflow Management Systems (WMSs). Against the backdrop of data-intensive and complex models, CyberWater exemplifies the transition of intricate data into insightful and actionable knowledge and introduces the nuanced architecture of CyberWater, particularly focusing on its adaptation and enhancement from the VisTrails system. It highlights the significance of control and data flow mechanisms and the introduction of new data formats for effective data processing within the CyberWater framework.
This study presents an in-depth analysis of the design and implementation of Generic Model Agent Toolkits. The discussion centers on template-based component mechanisms and the integration with popular platforms, while emphasizing the toolkit’s ability to facilitate on-demand access to High-Performance Computing resources for large-scale data handling. Besides, the development of an asynchronously controlled workflow within CyberWater is also explored. This innovative approach enhances computational performance by optimizing pipeline-level parallelism and allows for on-demand submissions of HPC jobs, significantly improving the efficiency of data processing.
A comprehensive methodology for model-driven development and Python code integration within the CyberWater framework and innovative applications of GPT models for automated data retrieval are introduced in this research as well. It examines the implementation of Git Actions for system automation in data retrieval processes and discusses the transformation of raw data into a compatible format, enhancing the adaptability and reliability of the data retrieval component in the adaptive generic model agent toolkit component.
For the development and maintenance of software within the CyberWater framework, the use of tools like GitHub for version control and outlining automated processes has been applied for software updates and error reporting. Except that, the user data collection also emphasizes the role of the CyberWater Server in these processes.
In conclusion, this dissertation presents our comprehensive work on the CyberWater framework's advancements, setting new standards in scientific workflow management and demonstrating how technological innovation can significantly elevate the process of scientific discovery.
Oac-2209835, degree type.
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More than 100 reference examples and their corresponding in-text citations are presented in the seventh edition Publication Manual . Examples of the most common works that writers cite are provided on this page; additional examples are available in the Publication Manual .
To find the reference example you need, first select a category (e.g., periodicals) and then choose the appropriate type of work (e.g., journal article ) and follow the relevant example.
When selecting a category, use the webpages and websites category only when a work does not fit better within another category. For example, a report from a government website would use the reports category, whereas a page on a government website that is not a report or other work would use the webpages and websites category.
Also note that print and electronic references are largely the same. For example, to cite both print books and ebooks, use the books and reference works category and then choose the appropriate type of work (i.e., book ) and follow the relevant example (e.g., whole authored book ).
Examples on these pages illustrate the details of reference formats. We make every attempt to show examples that are in keeping with APA Style’s guiding principles of inclusivity and bias-free language. These examples are presented out of context only to demonstrate formatting issues (e.g., which elements to italicize, where punctuation is needed, placement of parentheses). References, including these examples, are not inherently endorsements for the ideas or content of the works themselves. An author may cite a work to support a statement or an idea, to critique that work, or for many other reasons. For more examples, see our sample papers .
Reference examples are covered in the seventh edition APA Style manuals in the Publication Manual Chapter 10 and the Concise Guide Chapter 10
Textual works are covered in Sections 10.1–10.8 of the Publication Manual . The most common categories and examples are presented here. For the reviews of other works category, see Section 10.7.
Data sets are covered in Section 10.9 of the Publication Manual . For the software and tests categories, see Sections 10.10 and 10.11.
Audiovisual media are covered in Sections 10.12–10.14 of the Publication Manual . The most common examples are presented together here. In the manual, these examples and more are separated into categories for audiovisual, audio, and visual media.
Online media are covered in Sections 10.15 and 10.16 of the Publication Manual . Please note that blog posts are part of the periodicals category.
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P3 Health Partners Inc. ( NASDAQ: PIII ) is operating in the healthcare space, where they are collaborating with healthcare providers in different states in five states, providing them with assistance for a compensation.
P3's revenue has been growing steadily over the past years from $452 million to $1.5 billion, but so far, has not been profitable. Profitability in 2024 is however on the doorstep in light of the company's guidance, and once profitable, I believe the company's valuation should start to look entirely different. Probably for that reason, P3's valuation grade according to all of Seeking Alpha's metrics is A+. With an EV/Sales value of 0.31, I believe P3 is strongly undervalued.
The recent announcement of a new CEO may bring renewed attention to the stock.
As the company progresses towards its guided goal of profitability, I am rating the company as a Buy.
P3 operates in the healthcare service, where it works with healthcare operates as its members with the goal to create added value. P3 has a team of doctors and healthcare providers with a variety of healthcare management services, such as education to patients and doctors, patient management, proactive screening, and access to resources.
P3 at a glance slide (Recent Jefferies presentation)
Growth profile (Recent Needham presentation)
P3 has a network of care providers across the country, who manage the care of thousands of patients, by providing coordination and administrative services that lead to better patient outcomes and lower costs, taking care of patient care, hospital visits and related services. P3 uses local physicians to provide these services in part. P3 charges a per member, per month fee [PMPM] and Medicare providers earn a percentage of money not spent taking care of members and an additional bonus.
P3 is active in five states and 23 markets.
P3 currently has a market capitalization of $183 million, which is in drastic disproportion to its latest quarterly revenue of $388.5 million and expected yearly revenue of between $1.45 and $1.55 billion. Moreover, that revenue keeps on growing year over year, while the share price keeps on dropping, adding to the disproportion.
One could argue that perhaps a low valuation is in place because the company will never be able to turn profitable. That arguments fail in light of the repeated guidance of the company that the year 2024 will be profitable, with an estimated EBITDA profit margin of $20 to $40 million. While the company usually does not provide guidance as to potential profits, the fact that it does is an indicator that prospects are good. If that trend would continue, then in the course of the coming years that profit margin could quickly grow. There is ample room, as $20 to $40 million represents only a fraction of the company's projected revenue of $1.5 billion, which is expected to keep on increasing year over year.
Medical Margin and EBITDA guidance (Recent Needham presentation)
P3 reaffirmed guidance to profitability in the Q4 2023 earnings call and did so again when issuing the Q1 2024 results .
Several elements are playing in favor of P3's guidance here, some of which I will mention below. Over the past five years, while memberships have increased by 155%, revenue has grown by 209%. As revenue is expected to reach between $1.45 and $1.55 billion at the end of 2024, that would correspond to approximately 14% to 19% of growth over 2023.
As annual membership enrollment numbers keep on improving, P3 also keeps on expanding to new territories. Currently, the company is working in 25 countries, two extra compared to the start of 2024.
Revenue growth is also consistent each year. In 2023, total revenue growth compared to the year before was 21%. For the first quarter of 2024, revenue growth compared to the first quarter of 2023 was 29%.
Existing members keep paying more, namely 16% compared to the year before in 2023, in spite of declines in reimbursement.
P3 has made some cost reductions and other operational efficiency enhancements, such as the reduction of its platform expense by 32% in 2023.
Additionally, P3 expects the maturation of lives to drive an improvement in medical margins.
Maturation of Lives slide (Recent Needham presentation)
The first quarter of each year is generally not the big contributor to annual revenue.
However, in its latest first quarter 2024 quarterly results, P3 noted a total revenue growth of 29% year-over-year. Total revenue for the quarter was $388.5 million, an increase of 29% compared to $302.1 million in the first quarter of the prior year.
Net loss and adjusted EBITDA loss were similar year over year, but as revenue increased by 29% compared to the year before, the net and EBITDA losses are actually an improvement compared to the year before, or a relative reduction of about 30% compared to the year before.
The net loss was $49.6 million, compared to a net loss of $52.4 million in the first quarter of the prior year. Adjusted EBITDA loss was $19.8 million, compared to an adjusted EBITDA loss of $19.1 million in the first quarter of the prior year.
That relative annual decrease in losses as a function of total revenue was probably due to several reasons , such as a 26% reduction of operating expenses to $26.2 million for the first quarter of 2024, a 12% reduction in medical expenses, and a 12% reduction in corporate, general and administrative expenses. If these operational efficiencies continue, I believe the guidance of the company could turn out to be correct. Additionally, P3 expects to potentially see a significant reserve release, as the 2023 claims showed a trend to a strong improvement from what had been previously booked.
P3's guidance for profitability in 2024 is between $20 to $40 on an adjusted EBITDA basis.
Bridge to profitability slide (Needham presentation)
In my eyes, neither the company's expected revenue of $1.5 billion nor its projected trajectory warrants a market capitalization below $200 million.
The average Wall Street analyst price target is 386% higher than the current valuation.
Wall Street analyst average target (Seeking Alpha)
Seeking Alpha's valuation grade on PIII is A+. In fact, all available metrics are A+.
Valuation Grade metrics (Seeking Alpha)
Lacking profitability, I would primarily look at this company from an EV/sales ratio. For PIII, that value is around 0.3, whereas companies generally trade around EV/sales ratios of 1 to 3. The company appears drastically undervalued from that perspective, certainly in light of its guidance.
In May 2024, P3 announced that Aric Hoffmann would join P3 as the new CEO, while the former CEO would stay on as an adviser and member of the Board of Directors. Mr. Hoffmann knows the team of P3 well, as he has worked for the company in the past, prior to transitioning to serve as the CEO of the Everett Clinic and Northwest Physicians Network.
His return to a company and people he already knows, with greater experience as a CEO, may bring added value and a new wind to the company. This may also be good news for investors, allowing the company to turn a page.
According to P3's latest quarterly results, the company had approximately $32 million in cash and received approximately $15 million in regular cash-capitated premiums and an additional $15 million of capital at the start of the second quarter.
The company has recently also picked up approximately $42 million from a private placement at $0.62 cents. In total, that should lead to about $100 million in cash, which may be sufficient if the company indeed turns profitable.
The recent financing, at a price higher than the current price, reduces the risk of further financing.
Moreover, last year's financing was also a private placement at a price of $1.12, so I assume investors of that financing will be reluctant to sell at the current prices.
Finally, the short interest in PIII is about 7% with about 18 days to cover at the current volume.
Investing in a company that does not generate revenue yet is risky. The company may need further financing, thereby diluting the current shareholders and increasing market capitalization. I believe that risk, for now, is limited in light of the recent financing.
The thesis of profitability as projected by the company may be impacted by regulatory or macroeconomic factors, may simply appear erroneous, or the company may take longer to reach that pivotal point. A positive market reaction in case of profitability is not guaranteed.
P3's price is below the dollar at the moment, meaning it is not in compliance with Nasdaq requirements. If this situation continues, P3 may eventually have to take measures to ensure compliance, such as a reverse stock split.
Finally, though its revenue is high, PIII's valuation is low, making it qualify as a microcap. Investing in microcap stocks is always risky.
P3 is a player in the healthcare business with a growing business on its way to profitability.
With recent financing closed, I believe now may be an appropriate time to look at potentially investing in P3 Health Partners. P3's revenues have kept on growing over the past years, and the guidance is that revenue will end up between $1.45 and $1.55 billion this year. That revenue is in stark contrast with the market cap of the company, which is below $200 million. It is also in contrast with the EV/sales ratio of about 0.3, which is in contrast with EV/sales ratios which are typically between 1 and 3. The average Wall Street analyst price target shows a 386% upside.
PIII's cost structure has recently been made more lenient over the past quarter.
For the above reasons and because the company believes 2024 to be transformational, I believe now is a good time to cover PIII with a Buy rating.
Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
This article was written by
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Methodology
Published on January 2, 2023 by Shona McCombes . Revised on September 11, 2023.
What is a literature review? A literature review is a survey of scholarly sources on a specific topic. It provides an overview of current knowledge, allowing you to identify relevant theories, methods, and gaps in the existing research that you can later apply to your paper, thesis, or dissertation topic .
There are five key steps to writing a literature review:
A good literature review doesn’t just summarize sources—it analyzes, synthesizes , and critically evaluates to give a clear picture of the state of knowledge on the subject.
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What is the purpose of a literature review, examples of literature reviews, step 1 – search for relevant literature, step 2 – evaluate and select sources, step 3 – identify themes, debates, and gaps, step 4 – outline your literature review’s structure, step 5 – write your literature review, free lecture slides, other interesting articles, frequently asked questions, introduction.
When you write a thesis , dissertation , or research paper , you will likely have to conduct a literature review to situate your research within existing knowledge. The literature review gives you a chance to:
Writing literature reviews is a particularly important skill if you want to apply for graduate school or pursue a career in research. We’ve written a step-by-step guide that you can follow below.
Writing literature reviews can be quite challenging! A good starting point could be to look at some examples, depending on what kind of literature review you’d like to write.
You can also check out our templates with literature review examples and sample outlines at the links below.
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Before you begin searching for literature, you need a clearly defined topic .
If you are writing the literature review section of a dissertation or research paper, you will search for literature related to your research problem and questions .
Start by creating a list of keywords related to your research question. Include each of the key concepts or variables you’re interested in, and list any synonyms and related terms. You can add to this list as you discover new keywords in the process of your literature search.
Use your keywords to begin searching for sources. Some useful databases to search for journals and articles include:
You can also use boolean operators to help narrow down your search.
Make sure to read the abstract to find out whether an article is relevant to your question. When you find a useful book or article, you can check the bibliography to find other relevant sources.
You likely won’t be able to read absolutely everything that has been written on your topic, so it will be necessary to evaluate which sources are most relevant to your research question.
For each publication, ask yourself:
Make sure the sources you use are credible , and make sure you read any landmark studies and major theories in your field of research.
You can use our template to summarize and evaluate sources you’re thinking about using. Click on either button below to download.
As you read, you should also begin the writing process. Take notes that you can later incorporate into the text of your literature review.
It is important to keep track of your sources with citations to avoid plagiarism . It can be helpful to make an annotated bibliography , where you compile full citation information and write a paragraph of summary and analysis for each source. This helps you remember what you read and saves time later in the process.
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To begin organizing your literature review’s argument and structure, be sure you understand the connections and relationships between the sources you’ve read. Based on your reading and notes, you can look for:
This step will help you work out the structure of your literature review and (if applicable) show how your own research will contribute to existing knowledge.
There are various approaches to organizing the body of a literature review. Depending on the length of your literature review, you can combine several of these strategies (for example, your overall structure might be thematic, but each theme is discussed chronologically).
The simplest approach is to trace the development of the topic over time. However, if you choose this strategy, be careful to avoid simply listing and summarizing sources in order.
Try to analyze patterns, turning points and key debates that have shaped the direction of the field. Give your interpretation of how and why certain developments occurred.
If you have found some recurring central themes, you can organize your literature review into subsections that address different aspects of the topic.
For example, if you are reviewing literature about inequalities in migrant health outcomes, key themes might include healthcare policy, language barriers, cultural attitudes, legal status, and economic access.
If you draw your sources from different disciplines or fields that use a variety of research methods , you might want to compare the results and conclusions that emerge from different approaches. For example:
A literature review is often the foundation for a theoretical framework . You can use it to discuss various theories, models, and definitions of key concepts.
You might argue for the relevance of a specific theoretical approach, or combine various theoretical concepts to create a framework for your research.
Like any other academic text , your literature review should have an introduction , a main body, and a conclusion . What you include in each depends on the objective of your literature review.
The introduction should clearly establish the focus and purpose of the literature review.
Depending on the length of your literature review, you might want to divide the body into subsections. You can use a subheading for each theme, time period, or methodological approach.
As you write, you can follow these tips:
In the conclusion, you should summarize the key findings you have taken from the literature and emphasize their significance.
When you’ve finished writing and revising your literature review, don’t forget to proofread thoroughly before submitting. Not a language expert? Check out Scribbr’s professional proofreading services !
This article has been adapted into lecture slides that you can use to teach your students about writing a literature review.
Scribbr slides are free to use, customize, and distribute for educational purposes.
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If you want to know more about the research process , methodology , research bias , or statistics , make sure to check out some of our other articles with explanations and examples.
Statistics
Research bias
A literature review is a survey of scholarly sources (such as books, journal articles, and theses) related to a specific topic or research question .
It is often written as part of a thesis, dissertation , or research paper , in order to situate your work in relation to existing knowledge.
There are several reasons to conduct a literature review at the beginning of a research project:
Writing the literature review shows your reader how your work relates to existing research and what new insights it will contribute.
The literature review usually comes near the beginning of your thesis or dissertation . After the introduction , it grounds your research in a scholarly field and leads directly to your theoretical framework or methodology .
A literature review is a survey of credible sources on a topic, often used in dissertations , theses, and research papers . Literature reviews give an overview of knowledge on a subject, helping you identify relevant theories and methods, as well as gaps in existing research. Literature reviews are set up similarly to other academic texts , with an introduction , a main body, and a conclusion .
An annotated bibliography is a list of source references that has a short description (called an annotation ) for each of the sources. It is often assigned as part of the research process for a paper .
If you want to cite this source, you can copy and paste the citation or click the “Cite this Scribbr article” button to automatically add the citation to our free Citation Generator.
McCombes, S. (2023, September 11). How to Write a Literature Review | Guide, Examples, & Templates. Scribbr. Retrieved June 7, 2024, from https://www.scribbr.com/dissertation/literature-review/
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Here’s why nvidia stock will reach $10 trillion market cap by 2030.
Nvidia has a market cap of $3 trillion today. We believe Nvidia will reach a $10 trillion market cap by 2030 or sooner through a rapid product road map, it’s impenetrable moat from the CUDA software platform, and due to being an AI systems company that provides components well beyond GPUs, including networking and software platforms.
CEO Jensen Huang talks about the Blackwell Platform during the keynote address of Nvidia GTC in San ... [+] Jose, Calif., Monday, March 18, 2024. (AP Photo/Eric Risberg)
In 2021, I published an analysis on Forbes “Here’s Why Nvidia Will Surpass Apple’s Valuation in 5 Years” that stated : “ Nvidia has a market cap of roughly $550 billion compared to Apple’s nearly $2.5 trillion. We believe Nvidia can surpass Apple by capitalizing on the artificial intelligence economy, which will add an estimated $15 trillion to GDP.”
Yesterday, Nvidia officially surpassed Apple in market cap, which means I delivered on my prediction 2 years early.
This lends itself to the question, what do I foresee next for Nvidia, and how am I approaching this heavy hitter in AI. My firm champions full transparency by issuing trade alerts for every buy and sell we make; thus, I’ve included at the end a transparent discussion on how my firm is managing our position today.
But first, I unpack why I believe Nvidia can achieve an astonishing $10 trillion market cap by 2030 . As you’ll see from the key points to my thesis, there is a bull case where a $10T market cap estimate in a little over six years’ time is not high enough.
On June 2nd, Jensen Huang made a very important statement about the future of AI that answers quite succinctly why Nvidia is on the verge of becoming the World’s Most Valuable Company:
“ The days of millions of GPU data centers are coming . And the reason for that is very simple. Of course, we want to train much larger models. But very importantly, in the future, almost every interaction you have with the Internet or with a computer will likely have a generative AI running in the cloud somewhere. And that generative AI is working with you, interacting with you, generating videos or images or text or maybe a digital human. And so you're interacting with your computer almost all the time, and there's always a generative AI connected to that. Some of it is on-prem, some of it is on your device and a lot of it could be in the cloud [...]
Today, there are tens-of-thousands of GPUs in data centers. By end of 2025, there will be hundreds-of-thousands of GPUs in data centers. Due to the market’s forward-looking nature, 2025 is getting close to being fully priced in. Here is a slide of what this looks like from the perspective of scaling the ethernet networking to support a million-plus GPU cluster.
Today, there are tens-of-thousands of GPUs in data centers. By end of 2025, there will be ... [+] hundreds-of-thousands of GPUs in data centers. Due to the market’s forward-looking nature, 2025 is getting close to being fully priced in. Here is a slide of what this looks like from the perspective of scaling the networking and interconnects to support a million-plus GPU cluster.
Here’s what we know about Big Tech’s purchases, thus far. Microsoft is reportedly looking to triple its GPU supply to 1.8 million GPUs this year to meet elevated demand for Azure, while Meta has disclosed its GPU orders with an announcement for 150,000 H100s last year and 350,000 H100s or H100-equivalents this year. Musk announced that X’s 100,000 H100 cluster would be online in a few months and hinted at a possible 300,000 B200 GPU purchase.
According to Next Platform , Meta has roughly 600,000 GPUs deployed including previous generations, such as Ampere. This could include some from AMD, although AMD is more likely to ramp in 2025 and beyond. Right now, Nvidia has a $100 billion run rate on its data center compared to AMD’s $4 billion, therefore, any portion of GPUs from AMD is nominal as it stands for 2024.
If we look closer at semantics, Huang used the word “millions” and not the singular word “million,” and “data centers” rather than the singular “data center.” Therefore, my firm is making the assumption that companies like Meta will grow their data center GPUs by a minimum of 233% from 600K to 2M by 2030.
Broadcom shares a similar view, noting that management expects million-GPU clusters by 2027 , compared to clusters with tens of thousands of GPUs today. This is even more bullish than Jensen Huang’s comments. Coming back to Meta, even with 600,000 H100 equivalents, it’s building clusters of 24,000 GPUs. In order to see singular clusters scale to the hundreds of thousands and millions, as Broadcom is predicting, we would need to see GPU shipments far in excess of those levels. This alone could get us to $10 trillion market cap based off Big Tech’s data centers, and we have not factored in the enterprise. The enterprise includes companies like the Fortune 500 or Global 2000 that build on-premise AI systems.
We can cross-examine this by looking at comments by CEOs, such as Lisa Su who stated AI accelerators will reach $400 billion by 2027. Nvidia has over 95% market share of data center GPUs but with custom silicon ASICs and more GPUs coming online, this is closer to 80% market share of AI accelerators.
If this estimate materializes, Nvidia’s data center segment will be at $320 billion in 2027, up from data center run rate of $90 billion today, with consensus at roughly $145 billion data center segment by end of calendar year 2025 (consensus is total revenue of $157.51, deducting for other segments).
In my analysis last month on the Blackwell architecture, I made the argument these estimates are too ... [+] low and that my firm expects we will see a $200 billion data center segment by end of CY2025 propelled forward by the B100, B200 and GB200, including the following points: “Taiwan Semi’s CoWos capacity, which is essential for Blackwell’s architecture, is estimated to rise to 40,000 units/month by the end of 2024, which is more than a 150% YoY increase from ~15,000 units/month at the end of 2023. Applied Materials has boosted its forecast for HBM packaging revenue from a prior view for 4X growth to 6X growth this year.”
In my analysis last month on the Blackwell architecture , I made the argument these estimates are too low and that my firm expects we will see a $200 billion data center segment by end of CY2025 propelled forward by the B100, B200 and GB200, including the following points: “Taiwan Semi’s CoWos capacity, which is essential for Blackwell’s architecture, is estimated to rise to 40,000 units/month by the end of 2024, which is more than a 150% YoY increase from ~15,000 units/month at the end of 2023. Applied Materials has boosted its forecast for HBM packaging revenue from a prior view for 4X growth to 6X growth this year.”
Data center segment for Nvidia of $320 billion by 2027 would result in 260% growth for Nvidia’s DC from where it stands today and up 120% from DC revenue estimates for end of CY2025. Using Lisa Su’s prediction, there would still be another three years to achieve the additional 120% needed to reach $10 trillion.
Industry analysts have a high-30 percent CAGR for AI accelerators through 2030 ranging from 36.6% to 37.4% . If we round this up to a 40-percent CAGR for Nvidia, then it’s not out of the question that Nvidia ends the decade with $800 billion from AI systems. That would be 450% growth from $145 billion at end of CY2025. This is the most bullish case scenario, which is why my current prediction is a bit more tame (for now) at predicting 233% growth by 2030.
Valuation is one of the most important points that confuses many investors (and short sellers) on why Nvidia’s stock continues to extend. We’ve called the valuation eerily low as most hypergrowth stocks would trade well above historical averages after a 500% move in 18 months. However, due to the 600% increase in earnings and 400% increase in revenue, the stock has remained well below its historical averages, while in fact, trading near October 2022 levels. To put this in perspective, on a forward PE basis, Nvidia was more expensive at the start of 2023 than it is today. Currently, it is trading at a forward P/E ratio of 44 compared to 62 in January 2023. You can view a clip here where I stated the stock was trading eerily low. This is still true today.
Many investors are surprised that Nvidia has surpassed Apple, and will pass Microsoft any day now to become the world’s most valuable company. Really, a gaming company? All of this from GPUs?
I want to make it abundantly clear that from a technological standpoint Nvidia has run circles around the FAANGs over the past 8 years. Apple has sat stagnant while Nvidia is in its Steve Jobs-era. What has resulted is that Nvidia is no longer a GPU company; it’s an AI systems company. The best ten or fifteen minutes an investor can spend in today’s market is understanding what exactly Nvidia accomplished to get to $3T, otherwise, it will not be clear how we can get to $10T.
Below, I take you through the key points from each generation, including the moment Nvidia transitioned from being a GPU chip company and a gaming company to become the AI systems company that is powering a $15 trillion economy.
For ease of reading, I’ve bolded key takeaways and also underlined the not-to-miss points:
In 2016, Pascal featured 7.2 billion transistors and increased CUDA cores compared to the previous generation, Maxwell. CUDA cores are parallel processors that can perform complex calculations and execute tasks on graphics cards much faster than a central processor. Parallel computing is at the heart of why Nvidia transitioned from gaming to AI, as GPUs can execute multiple tasks at the same time (concurrently). Each generation increases CUDA cores, which helps to accelerate what workloads are possible. CUDA cores distribute compute across thousands of cores to train large scale neural networks and can process big data at exponential rates.
Pascal was built on TSMC’s 16nm process and Samsung’s 14nm FinFET process with 16-bit floating precision, plus NVLink bi-directional interconnect to scale multiple GPUs for applications. TSMC’s CoWoS packaging was used to support high-bandwidth memory (HBM2).
Volta was built on a 12nm FinFET process with 32GB of HBM2, 900GB of bandwidth and 21 billion transistors. The breakthrough here was the introduction of Tensor cores for AI, machine learning and deep learning.
Tensor cores handle tensor and matrix operations, resulting in higher performance for neural networks. Tensor cores are capable of mixed-precision calculations, which contributes a significant amount to the “1,000 times increase in AI compute” quoted by Nvidia this past weekend. For example, switching from a 32-bit floating point to a 16-bit floating point can significantly increase training speed by requiring less memory and speeding up data transfer operations.
Due to introducing Tensor cores, Volta was the officially the first AI accelerator in history as it was designed for large scale training and connected up to eight GPUs . With Tensor Cores, Nvidia combined the benefits of parallel process and general-purpose compute from CUDA cores (which distributes tasks across thousands of cores) with the specialized acceleration offered from the matrix computations from Tensor Cores.
NVLink also saw an upgrade to 2.0 in this generation for higher data transfer rates.
Volta with Tensor Cores was launched in 2017 and further developed with two more releases launched in 2018. My firm began covering Nvidia’s AI thesis around this time, stating CUDA created an impenetrable moat for data center GPUs.
In 2019, Volta’s AI capabilities prompted me to say on my premium stock research site: “ To be bold - I believe Nvidia will be one of the world’s most valuable companies by 2030. The research below organizes my investment thesis for the GPU-powered cloud and why I believe Nvidia will emerge as a clear leader.”
That premium research note was written on September 17 th 2019 when Nvidia was at a $110 billion valuation.
The market cap of Nvidia when I first stated it would become the world’s most valuable company at ... [+] $110.3B compared to a $3T market cap today, for a return of 2,600% in less than five years.
Pictured Above: Y-charts , the market cap of Nvidia when I first stated it would become the world’s most valuable company at $110.3B compared to a $3T market cap today, for a return of 2,600% in less than five years.
Turing was built on the 12nm FinFET process with upgraded HBM2 memory (GDDR6) for higher bandwidth and 8-bit floating precision. Nvidia’s T4 GPUs delivered up to 40 times more performance than CPUs and are capable of real-time inference due to exponentially better throughput.
The architecture expanded to include more CUDA cores, second generation Tensor cores and the newly introduced RT Cores for real-time ray tracing. RT cores provide a boost to gaming and introduced professional visualization. The RTX platform was invented by Nvidia to “physically simulate light behavior in the world” and combines RT cores for ray tracing with Tensor Cores for AI.
For more information on ray tracing and RT cores, you can read my previous coverage on Omniverse here , or watch a 1-hour video where I interview Richard Kerris of Nvidia on the simulation platform.
If Tensor cores made Volta the first AI accelerator, then Ampere was the architecture that marked the moment Nvidia would no longer be considered a cyclical, gaming stock. I began to call Nvidia “secular” with this release and it’s when I doubled down on my conviction by taking my thesis from behind the paywall to the public, stating Nvidia would Surpass Apple in 5 Years. Nvidia not only became secular in revenue, but it’s secular-level gains have surpassed the world’s most celebrated software companies (every single one of them) since Ampere.
In fact, as one of the leading investors in semiconductors on record, I can assure you ... [+] semiconductors have gone through a deep, cyclical trough industry-wide over the past 8 or so quarters while Nvidia powered higher with historical beats/raises.
In fact, as one of the leading investors in semiconductors on record , I can assure you semiconductors have gone through a deep, cyclical trough industry-wide over the past 8 or so quarters while Nvidia powered higher with historical beats/raises. By providing in-demand AI systems, Nvidia has become decoupled from consumer spending and macro.
Nvidia outperforms secular software and did not participate in the steep, cyclical trough over the ... [+] past eight quarters like its semiconductor peers.
Pictured Above: Nvidia outperforms secular software and did not participate in the steep, cyclical trough over the past eight quarters like its semiconductor peers.
The A100 was built on TSMC’s advanced 7nm FinFET process node with 54 billion transistors. The third-gen Tensor cores featured new mixed-precision calculations, such as Tensor Float (TF32) and Floating Point 64 (FP64) with TF32 delivering up to 20X faster speeds for AI. By using automatic mixed precision, FP16 can be utilized for an additional 2X performance. Nvidia calls this the sparsity feature , which doubles throughput, runs 10X faster than the V100, and is 20X faster with sparsity.
What was special about the A100 is that it unified training and inference on a single chip, whereas in the past Nvidia was mainly used for training. With the specs described above, the A100 also offered a 20x performance boost.
As a multi-instance GPU, the A100 can make one GPU look like up to 7 GPUs for optimal utilization. This is key for cloud service providers, such as Amazon’s AWS, Google Cloud and Microsoft Azure, as it increased GPU instances by 7X.
The A100 was the first architecture where Nvidia was no longer simply a GPU chip company, but rather it marked the moment Nvidia became an AI systems company . The A100 offers the ability to scale-up multiple GPUs for one giant GPU using components such as third-gen NVLink to double GPU-to-GPU bandwidth, NVSwitch which is leveraged for fast data transfers, plus InfiniBand and SmartNICs following the Mellanox acquisition.
For more information on TSMC’s process nodes, reference the analysis “ TSMC: April Sales Soar from Advanced Nodes .” The Mellanox acquisition was covered in-depth for my premium readers at time of acquisition here.
Hopper is when Wall Street became aware of Nvidia’s AI story. As you can see in this timeline, it was quite late for the Street to finally discover Nvidia is a promising AI stock!
The H100 GPUs and the DGX H100 server pods and super pods solved an important bandwidth issue and sped up algorithms by offering dynamic programming on GPUs to break down problems to simpler subproblems. The GPUs also boost bandwidth by 3X with SHARP in-networking computing and Infiniband Switches, and the H100 can leverage NVLink to connect eight H100s into one giant GPU for 640 billion transistors, 32 petaflops, 640GB of HBM3, and 24 terabytes per second of memory bandwidth.
The H100 has about 50% more memory and interface bandwidth than the A100. Memory later got a big boost in Blackwell, shipping this year.
The H100 stands apart with the leap in performance of 3X more performance than the A100 and is up to 6X faster. The A100 lacked support for FP8 compute at default whereas the H100 leverages a transformer engine to switch between FP8 and FP16, depending on the workload.
According to Nvidia, the H100 delivers 9X more throughput in AI training, and 16X to 30X more inference performance. The company also states in HPC application-specific workloads, the H100 is 7X faster. The goal of the H100 was not only to add more transistors and make the H100 faster, but to also offer function-specific optimizations. This is achieved through the transformer engine.
Although there are many highlights to consider with the H100, the biggest breakthrough was the transformer engine as it allowed generative AI to come to market. Transformers helped to define generative AI as the neural-network models apply self-attention to detect how data elements in a series influence and depend on one another.
Prior to transformer models, labeled datasets had to be used to train neural networks. Transformer models eliminate this need by finding patterns between elements mathematically, which substantially opens up what datasets can be used and how quickly.
The “T” in Chat-GPT stands for transformer and it was the H100 that created the GenAI breakthrough moment.
Blackwell is the architecture that I stated on Fox Business News will deliver the “ultimate fireworks by the end of this year.” In the analysis Blackwell and the $200B Data Center , I stated: “ Blackwell is for the trillion+ parameter era of generative AI. The architecture is designed to support the largest language models today and is future-proofed […]”
The full analysis is worth a read as it spells out how Nvidia will drive growth through the end of 2025 and why I think current data center estimates are too low. In fact, I wrote that prior to the last earnings report and analysts are already proving me correct as FY2026 (ending Jan 2026) have been revised up by a whopping $20 billion since I wrote that only three weeks ago!
On May 23rd FY2026 revenue was estimated at $125 billion, it is now at $145 billion for an increase ... [+] of $20 billion on the data center. This means that within three weeks, my prediction written prior to earnings was for 60% higher data center revenue than the estimates, and in three brief weeks, the consensus has been revised so rapidly, the difference is only 38%.
Pictured Above: Seeking Alpha , on May 23 rd FY2026 revenue was estimated at $125 billion, it is now at $145 billion for an increase of $20 billion on the data center. This means that within three weeks, my prediction (that was written prior to earnings) for 60% higher data center revenue is quickly materializing, as in the last three brief weeks, the consensus has been revised so rapidly, the difference is only 38% now. On Bloomberg Asia , I also discussed why investors should pay close attention to intra-quarter revisions, which is exactly the reason the price moved in the past three weeks.
Unlike previous generations where the V100, A100 and H100 were the show-stoppers, it will be the GB200 and B200 that creates the biggest leap generationally . Therefore, I want to emphasize that I said the fireworks would come at the end of the year and into early 2025. The fireworks begin when the GB200 NVL36/NVL72 ships in late 2024 and then they continue with the B200 GPUs in early 2025.
The B200 GPU chipset due in Q1 of next year will deliver a 2.5X training improvement and 5X inference improvement over the H100. This is due to the B200 having 208 billion transistors compared to the H100’s 80 billion transistors.
The B200 will also have 20 petaflops of FP4 compared to the H100’s 4 petaflops of FP8 reaching 32 petaflops of FP8 in the DGX H100 systems. The difference is that the smaller bit size allows for an economical way to achieve more speed when giving up a small amount of accuracy doesn’t make a critical difference. As discussed, this also helps in the face of a slowing Moore’s Law. The B200 will have a second-generation transformer engine that supports 4-bit floating point (FP4) with the goal of doubling the performance and size of models the memory can support while maintaining accuracy .
The second-generation transformer engine in the Blackwell architecture will offer FP4. This is helpful because AI models are moving toward neural nets that lean on the lowest precision and yet still yield an accurate result. In this case, 4 bits double the throughput of 8-bit units, compute faster and more efficiently, and they require less memory and memory bandwidth.
TheGB200 NVL72 will deliver real-time trillion-parameter LLM inference , 4X LLM training, 25X energy efficiency, and 18X data processing. The GB200 will provide 4X faster training performance than the H100 HGX systems and will include a second-generation transformer engine with FP4/FP6 Tensor core. As stated above, the 4nm process integrates two GPU dies connected with 10 TB/s NVLink with 208 billion transistors.
NVLink Switch is a major component to the Blackwell upgrade. Fifth-generation NVLink enables multi-GPU communication at high speed, reaching 1.8 TB/s bidirectional throughput or 14X the bandwidth of PCIe for a single GPU.
Takeaway: Blackwell is the architecture that will make trillion+ parameter models possible, up from billion parameter models today.
If you’re exhausted reading that, imagine producing it in 8 brief years. Per the Computex keynote, from Pascal to Blackwell, the AI systems delivered “1,000 times increase in AI compute,” while simultaneously decreasing the “energy per token by 45,000X.”
Now, imagine cutting the time in half by producing four generations of AI systems in 4 years instead of 8 years.
In the analysis “ Nvidia Q1 Earnings Preview: Blackwell and the $200B Data Center ,” I stated that “ should [the CUDA] moat become breached, the company’s rapid product road map is the first line of defense, ” and later I also stated: " The product road map is the single most important thing investors should be focused on . A good chunk of the AI accelerator story is understood at this point. What is not understood is how aggressive Nvidia is becoming by speeding up to a one-year release cycle for its next generation of GPUs instead of a two-year release cycle ."
After writing that, I realized it would be impossible to ask investors to focus on the upcoming road map if we did not look more closely at the road map that got us to $3 trillion. By now, it should be crystal clear that Nvidia is not a cyclical GPU chip company, rather it’s a secular AI systems and software platform company that has a near-monopoly in building supercomputers for the $15 trillion AI economy. If you are still not convinced that Nvidia is more than a GPU company, perhaps these two pictures can help.
Here’s a Blackwell GPU chip and a Hopper GPU chip — can easily fit in your hand.
Here’s a Blackwell GPU chip and a Hopper GPU chip, can easily fit in your hand.
Here’s what AI factories look like (or what I’m calling AI systems):
Here’s what AI factories look like (or what I’m calling AI systems)
This past weekend, Nvidia announced the names of future generations: Blackwell Ultra, Rubin, and Rubin Ultra. The specifics of these future generations will be revealed at future GTC conferences.
Here is what you keep an eye out for in future generations:
Some of you reading this own Nvidia, and others do not. For those who do not own the stock, the most important question is not what market cap will Nvidia have by 2030, but rather, where is the stock going in the near-term.
My firm is an actively managed portfolio that publishes our trades in real-time. However, we are not financial advisors and each investor must decide for themselves whether to buy or sell a stock. What my firm does is simply state when we are buying or selling for unrivaled transparency. You will be hard pressed to find anyone else publish every single trade in real-time outside of professional fund managers (who are required to do so).
Since I first began covering Nvidia publicly in 2018, my firm has issued 9 buy alerts under $200 and we have been taking nominal profits along the way. We plan to take profits again in the $1225 to $1315 range. Nvidia is trading in this potential topping zone, at time of writing. Once price moves below $1035, it will signal that the anticipated reversal is underway. Once this happens, our process allows us to get more precise with identifying buy targets. Until then, we have a general range between $920 - $715. Keep in mind, this range can shift once a reversal is identified.
For some stocks, we get more aggressive and would try to time a buy in the lower range of the target zone, which would be around $715 for NVDA. However, due to the strength of its thesis, we will likely buy at the upper end of that target around $920.
If you had bought Nvidia January 1st 2022 instead of October 18th of 2022, your returns would be ... [+] 387% instead of 1,034%. Therefore, 230% returns by 2030 would be phenomenal, but when entering at lower prices, the total return can multiply.
If you had bought Nvidia January 1 st 2022 instead of October 18 th of 2022, your returns would be 387% instead of 1,034%. Therefore, 230% returns by 2030 would be phenomenal, but when entering at lower prices, the total return can multiply. For example, let’s say an investor can buy the stock at $900. In this hypothetical situation, the returns would be 350% compared to 230%. This is simple in concept yet is challenging to execute.
As of now, Nvidia stock should be watched closely between $1225 to $1315. It’s crystal clear that Nvidia owns the AI market, yet the stock will need the broad market to be aligned for its phenomenal run to continue. We’ve been tracking the fading Mag 7 since early March . At this point, the Mag 7 had become the Mag 4, when we stated…
“when the cycle leaders start to underperform, it tends to mark the start of a trend change. The FAANGs have been the undoubted leaders of this bull run, and we are now seeing them start to trend lower against the indexes.”
After the rally we saw this week, it’s worth noting that Nvidia is the only stock in the Mag 7 that is making new all-time highs. Amazon, Alphabet and Meta are making lower highs as of today.
Until we see more market leaders breakout, Nvidia remains the last one standing. Therefore, if ... [+] Nvidia cannot break above the $1225 range, then the market is communicating that Nvidia’s much weaker peers may be influencing its price action.
Until we see more market leaders breakout, Nvidia remains the last one standing. Therefore, if Nvidia cannot break above the $1225 range, then the market is communicating that Nvidia’s weaker peers may be influencing its price action. We’ve stated many times that Nvidia is a buy on the dips (as opposed to a buy on breakouts), specifically as “we brace for Blackwell by the end of the year.”
What’s worth noting is that while SPX, NDX and NVDA are making new highs, almost every other major index (RUT, DJI, NYA, RSP, XLF, XHB, to name a few), including the Mag 6, are not.
For Nvidia to continue moving up in a straight line means the stock will have to operate in a vacuum. This is unlikely, and thus we are waiting for the next dip before we buy again. Our current target, once again, is in the $920 - $715 range, although depending on market dynamics this could shift. We update our premium research members with real-time trade alerts and weekly webinars.
The boldest prediction I have made on Nvidia was to state in an analysis to my premium research members in September of 2019 : “ To be bold - I believe Nvidia will be one of the world’s most valuable companies by 2030. The research below organizes my investment thesis for the GPU-powered cloud and why I believe Nvidia will emerge as a clear leader.”
The world’s most valuable company at that time was Apple hovering at a $1 trillion market cap compared to Nvidia’s $110 billion market cap. As many fierce critics pointed out to me, I was not only predicting that Nvidia would skyrocket but that Apple and every other FAANG would falter. This was a challenging prediction to make as many things had to line up: 1) Nvidia must blow the doors off, and 2) every FAANG would have to plateau.
Here is what happened next:
The world’s most valuable company at that time was Apple hovering at a $1 trillion market cap ... [+] compared to Nvidia’s $110 billion market cap. As many fierce critics pointed out to me, I was not only predicting that Nvidia would skyrocket but that Apple and other FAANGs would falter. This was a challenging prediction to make as many things had to line up: 1) Nvidia must blow the doors off, and 2) every FAANG would have to plateau.
All said and done, I will keep the 2030 deadline for the $10 trillion market cap, although I suspect, as with my other predictions, it will be delivered to you sooner.
Every Thursday at 4:30 pm Eastern, the I/O Fund team holds a webinar for premium members to discuss how to navigate the broad market, as well as various stock entries and exits. Beth Kindig offers weekly deep dives including lesser-known AI stocks, plus the team offers trade alerts and an automated hedging signal. The I/O Fund team is one of the only audited portfolios available to individual investors. Learn more here .
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Please note: The I/O Fund conducts research and draws conclusions for the company’s portfolio. We then share that information with our readers and offer real-time trade notifications. This is not a guarantee of a stock’s performance and it is not financial advice. Please consult your personal financial advisor before buying any stock in the companies mentioned in this analysis. Beth Kindig and the I/O Fund own shares in NVDA at the time of writing and may own stocks pictured in the charts.
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Depending on whether you are writing a thesis or dissertation, your length will vary. Generally, a conclusion should make up around 5-7% of your overall word count. An empirical scientific study will often have a short conclusion, concisely stating the main findings and recommendations for future research.
The conclusion chapter is typically the final major chapter of a dissertation or thesis. As such, it serves as a concluding summary of your research findings and wraps up the document. While some publications such as journal articles and research reports combine the discussion and conclusion sections, these are typically separate chapters in a ...
A good conclusion will review the key points of the thesis and explain to the reader why the information is relevant, applicable, or related to the world as a whole. Make sure to dedicate enough of your writing time to the conclusion and do not put it off until the very last minute. Organize your papers in one place. Try Paperpile.
Whilst the conclusion of a dissertation is a chapter in its own right, it's important to consider the role that the conclusion plays in the entire structure of your dissertation. You might recognise the shape below - what is sometimes called an 'hourglass' structure. This represents a typical structure for an essay or dissertation.
Complete the Dissertation. Once the conclusion is written, there are a few final steps to complete your dissertation: Write the thesis abstract in 200 words or less. Review your reference list and format it as per the writing style. You can also use online reference generators to speed up this process.
How to Write Dissertation Conclusion Example. Here is a dissertation conclusion example of a dissertation that aimed to test a theoretical argument based on an analysis of a case study; Proposed anaerobic digestion plant in Tripoli. Chapter 5 - Dissertation Conclusion. 5.1 Background.
The conclusion of your dissertation is a good place to restate the significance of your work. This might include how it contributes to existing knowledge in your field or its importance outside of academia. 3. Assess Limitations. No study is perfect, not even yours! Sorry to break the bad news!
The thesis or dissertation conclusion should be 5-7% of your paper's overall word count. For example, if your thesis is 30,000 words, the conclusion can be 1,500-2100 words. The conclusion for empirical or scientific theses or dissertations is often brief. It summarizes the main findings, interprets the research, and discusses the main ...
Highlight the "so what". At the beginning of your paper, you explain to your readers what's at stake—why they should care about the argument you're making. In your conclusion, you can bring readers back to those stakes by reminding them why your argument is important in the first place. You can also draft a few sentences that put ...
The recommended length of a dissertation conclusion is 5-7% of the overall word count. But you should note that empirical scientific studies, which are shorter, rock shorter conclusions compared to those of studies in humanities. You might want to check a dissertation conclusion sample from a top student or expert to see how he/she did the ...
Here is a format that you could follow while writing the conclusion of your thesis: 1. Restate your thesis statement. Rephrase it so that slightly different from the thesis statement presented in the introduction and does not sound repetitive. 2. Reiterate the key points of your work. To do this, go back to your thesis and extract the topic ...
An empirical thesis or dissertation conclusion may begin like this: Example: Empirical research This research aimed to identify effective fundraising strategies for environmental nonprofit organisations. Based on a quantitative and qualitative analysis of donation intention in response to campaign materials, it can be concluded that social ...
This template covers all the core components required in the conclusion chapter of a typical dissertation, thesis or research project: The purpose of each section is explained in plain language, followed by an overview of the key elements that you need to cover. The template also includes practical examples to help you understand exactly what ...
In general, you should use the following approach: Use an approach where you would 1) proofread, 2) take notes, and 3) summarize every single chapter of your work. This will pave the way and give you the structure you need for your dissertation conclusion. After you do this, simply copy & paste these mini chapter summaries and combine them into ...
The conclusion is intended to help the reader understand why your research should matter to them after they have finished reading the paper. A conclusion is not merely a summary of the main topics covered or a re-statement of your research problem, but a synthesis of key points derived from the findings of your study and, if applicable, where you recommend new areas for future research.
Your dissertation or thesis conclusion should be well-drafted as it is a reference point that people will remember most. The purpose of dissertation conclusion is to give those reading a sense of closure and reiterate any critical issues discussed. Each conclusion for dissertation should be concise, clear, and definitive.
Abstract. The conclusion is one of the shortest parts of the dissertation. In this chapter, we focus on the meaning and purpose of the conclusion, its components, and the sources of information that you should use to draw your conclusions. We will also point out the connection between the conclusion and the aim of the study, and things to avoid ...
This conclusion just restates the thesis and is usually painfully short. It does not push the ideas forward. People write this kind of conclusion when they can't think of anything else to say. Example: In conclusion, Frederick Douglass was, as we have seen, a pioneer in American education, proving that education was a major force for social ...
Writing a Conclusion. A conclusion is an important part of the paper; it provides closure for the reader while reminding the reader of the contents and importance of the paper. It accomplishes this by stepping back from the specifics in order to view the bigger picture of the document. In other words, it is reminding the reader of the main ...
Crucially, citation practices do not differ between the two styles of paper. However, for your convenience, we have provided two versions of our APA 7 sample paper below: one in student style and one in professional style. Note: For accessibility purposes, we have used "Track Changes" to make comments along the margins of these samples.
In conclusion, this dissertation presents our comprehensive work on the CyberWater framework's advancements, setting new standards in scientific workflow management and demonstrating how technological innovation can significantly elevate the process of scientific discovery. Funding. OAC-1835817. OAC-2209835. History.
More than 100 reference examples and their corresponding in-text citations are presented in the seventh edition Publication Manual.Examples of the most common works that writers cite are provided on this page; additional examples are available in the Publication Manual.. To find the reference example you need, first select a category (e.g., periodicals) and then choose the appropriate type of ...
Thesis. P3 Health Partners Inc. (NASDAQ: ... Conclusion. P3 is a player in the healthcare business with a growing business on its way to profitability. With recent financing closed, I believe now ...
What is the purpose of a literature review? Examples of literature reviews. Step 1 - Search for relevant literature. Step 2 - Evaluate and select sources. Step 3 - Identify themes, debates, and gaps. Step 4 - Outline your literature review's structure. Step 5 - Write your literature review.
Data center segment for Nvidia of $320 billion by 2027 would result in 260% growth for Nvidia's DC from where it stands today and up 120% from DC revenue estimates for end of CY2025. Using Lisa ...