There’s a guy on Nvidia right now talking about NVDA at a $6 trillion valuation, and he’s not the kind of guy you see at the bottom…
However, today stocks are up almost 7% in a huge rebound that almost erases yesterday’s drop. The rebound came from just above the 38.2% retracement of the April-June move.
This is an impressive move and continues along the Nasdaq, which is trading at a session high of 1.3%.
My question for the broader market: If NVDA’s revenue is $120 billion next year and rises to $250 billion by 2029 – which is the consensus – where is that money coming from?
Nvidia said just two customers in the first quarter accounted for 24% of revenue. Last year, one company was responsible for 19% of revenue. If we’re pricing this much revenue for Nvidia, are we pricing this much capex from Megacap Tech?