Nvidia's cash could have more value invested in AI companies with strong demand but too little capital to scale, especially neoclouds that can execute. Their valuations look very attractive now, making equity stakes preferable to more buybacks or dividends despite criticism of circular deals. SpaceX may need the money less because it is already very big. x.com  x.com  x.com 

Nvidia's CUDA retains developers, putting it among 12 stocks that could dominate the decade ahead. Nebius's GPU rental price rise signals demand; Fabrinet and Credo supply AI connectivity. DraftKings has betting scale; Microsoft has Azure and an OpenAI partnership; Figma anchors design work; Shopify powers stores. TeraWulf pivots power sites to AI leases; Constellation, the largest US nuclear operator, signs big-tech power deals; Meta spends on AI; Uber has autonomous-vehicle partnerships. x.com  … Show more

Nvidia faces risks on both sides of the AI cycle. Vendor financing is a concern at the center of the buildout: strong AI sentiment brings competition, while weaker sentiment brings a slowdown. That makes it the largest holding of greatest concern. x.com 

The broad AI trade is among the most undervalued markets in years on a growth-adjusted basis because demand for intelligence keeps rising. Usage of open-weight and closed frontier models keeps climbing, while GPU rental prices are up around 80% this year despite exploding supply. Nvidia, AMD and SpaceX share this demand bet as long as both lines keep rising. x.com 

Nvidia retains pricing power if its full system keeps reducing customers' cost per effective AI task. Strong AI demand alone does not ensure profits across the chain: rising chip, memory and optical costs burden buyers, while tighter financing and slow collections threaten operators. Large customers developing their own chips could pressure Nvidia's margins even as the market grows. x.com 

Nvidia's AI profits are real, but its compute demand depends heavily on fragile venture funding. Per Chamath, 1% of firms account for 90% of AI spending, and 72 cents of each dollar comes from unprofitable VC-backed firms. Venture money passes through startups to Nvidia and cloud suppliers; if the next raises fail, concentrated orders could contract together. x.com  x.com  x.com 

NVIDIA's free-model plan could defend chip demand as the two largest AI labs cut reliance on its hardware. OpenAI is building a chip with Broadcom; Anthropic mostly uses Google and Amazon chips. NVIDIA is putting together Reflection AI (in talks), Hugging Face and Groq for free models and paid chips. At 11x expected 2029 earnings versus ~19x for Microsoft, Alphabet and Amazon and 32x for Apple, its price reflects fears of slower AI spending and lost customers. NVIDIA is a 'Maximum Opportunity'. … Show more

Growing AI and rising demand for computing power put NVIDIA in a solid position. That underpins a bullish view of its shares. x.com 

Rising Chinese competition and doubts about valuations add to Nvidia's downside risk as the AI sector bleeds. Nvidia's break from an uptrending triangular pattern rarely ends well; the AI bubble is cracking, and the trendline break marks the beginning of something much bigger. x.com 

Nvidia's valuation has become comically disconnected from its blockbuster earnings, with the stock ranging in the same band since April. Value is accumulating at the bottom of the AI stack, where Nvidia and the memory makers are the big winners, and it offers the only complete package of hardware, software, networking and execution. The market underestimates the capital power Jensen Huang now commands to fund the ecosystem, including a contrarian push into open source. x.com