Nvidia Stock and the AI Monetization Supercycle No One Is Pricing In
Two weeks ago, Nvidia blew the doors off with an earnings report that defies the company’s mega-cap scale. The long-awaited Blackwell and Blackwell Ultra architectures are shipping in volume, leading to 25% QoQ growth in the data center segment and surpassing a $200 billion data center run rate. Despite this, Nvidia’s stock barely budged as the market ignored the magnitude of the QoQ inflection. Consider that Apple, trading at a similar market cap, has not seen 66% YoY growth for fourteen years, and it required a global pandemic for Apple to report 25%+ QoQ growth outside of its holiday quarter.
When we narrow it down to Nvidia’s last earnings report – let alone subsequent reports – there is truly no comparison going back…
