Overview
- Nvidia reported about $57 billion in quarterly revenue, guided to roughly $65 billion next quarter, and said multi‑year supply is effectively spoken for with a 63% sequential jump in commitments.
- An early rally in Nvidia and AI stocks faded into a broad sell‑off, with Nvidia down nearly 3% on Thursday and weakness spreading across major indexes and global chip shares.
- Executives rejected bubble claims, while several analysts raised forecasts, yet others warned that valuations look stretched and that the latest report only postpones tougher questions.
- High‑profile investors moved to hedge or exit AI exposure, including Michael Burry’s large put positions, Peter Thiel’s stake sale, and SoftBank’s disposal of its Nvidia holding.
- Risks highlighted across coverage include rapid hardware depreciation and obsolescence, circular funding and credit exposure tied to AI capex, and geopolitical pressure as China orders falter amid rising local competition.