The Acquirers Podcast on $NVDA (Oct 29, 2026)
NVDA benefits near term from AI spending by OpenAI and major cloud providers, boosting short-term profits, though the trend's durability is uncertain. If cloud companies cannot finance capex at reasonable cost, demand could fall; internal TPU chips may add competing supply. NVDA is cheap if its profits prove sustainable.
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What I do know is that they are the beneficiaries of this "whip" effect, where money is spent by OpenAI and all the major cloud computing companies, and it all goes to chipmakers like Nvidia.
All of those companies are doing well, so this improves their short-term profits. Perhaps it is a long-term trend, and perhaps it will last forever.
Therefore, if large cloud computing companies find it difficult to raise capital at a reasonable cost and attractive prices that would make it possible for them to achieve the return on invested capital they need for these massive projects, the logical thinking would be: "Well, that will reduce demand a little for companies like Nvidia and Micron."
You can expect the supply of these chips to increase, especially with those companies having their own internal "TPU" chips, for example, to compete with Nvidia's "GPU" chips with greater energy efficiency.
I mean, if you look at it, if you believe that profits are sustainable, then Nvidia is cheap.
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