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let's talk about in nvidia earnings so uh uh first off um they pretty much crushed it they beat uh on revenue they beat on eps and uh they beat on uh forecast above consensus and the wall street did what you would expect uh which has made their stock go down and and daniel i know you had some really intelligent thoughts on that we're on a bunch of tv shows i'm going to leave that part of it to you but i did want to break down um uh and you know where all this growth came from and it was primarily from uh from gaming and and and data center so uh gaming saw a massive bump and this has been really driven by the 300 series of rtx uh gaming cards uh which is just you know i wonder when will this stop uh all this growth and it's probably not going to particularly when we're headed into the holidays and we're we have covid and multiple aaa titles are coming out there's also growth in the data center and you needed to do a little bit of calculus to figure out uh where that came from because a 13 percent of that data center number is melanox and about a third of the of the data center number uh is is melanox but when you when you peel that back 77 of that data center growth uh was organic which is just incredible uh when you look at it the machine of machine learning training uh and inference the wheel just keeps going primarily on the back of uh cloud giants yeah i mean pat look um there was a lot going on in this whole uh there was just a there was just a tremendous amount in this particular earnings um the growth that you mentioned the 13 that was associated to melanox made the data center growth look monumental um what i think happened with the street first of all um the street really represents the future not the present and so as news has been breaking for nvidia over the past few quarters the market has essentially been baking that news into the price so the price has tripled um nvidia has uh almost 100 uh p e ratio and now it's just under a hundred now to give you some context there intel sits at just over eight um that means that intel stock is valued at a hundred times earnings almost um and whereas intel is only eight and the reason i say that is these are comparable companies uh in terms of the market they serve the technology developed um and so clearly the market's already valuing a huge putting a huge value and a huge premium on what nvidia is doing um the arm deal is another big thing here and so i said that the arm deal was a 40 billion dollar deal that by the way got washed out by the the growth of the market capitalization of nvidia within just a matter of hours of it being announced so what i think happened was the earnings met the expectations that the street already had the growth was exactly on par with kind of what was expected and what had been set the forward-looking guidance was good but just kind of consistent wasn't necessarily another blowout quarter and everyone said you know what we may have uh sort of peaked here or this is a little at least a ver a peninsula for the company's growth and so we're going to pause here or maybe exit here take some profit and then wait and pat the one big thing to wait on is going to be the arm deal now no question the arm deal is a tremendous win for nvidia but there is a lot of hurdles ahead for the company it's going to face regulatory scrutiny in probably every major geo around the world including rftc here in the us and i'm just beginning to start to be able to see the number of companies in the tech sphere that may have questions about this and you start to add that up pat and a lot of people i think are saying with given that the arm deal is probably baked into the price plus the growth has been baked into the price maybe uh it's time to just kind of let a few of these things play out but pat the success of nvidia this quarter is outstanding it's still at 77 organic growth and data center had a blowout gaming quarter um so a lot of kudos to the company but i do think the market was early and the market had already sort of absorbed a lot of its success yeah i'm really uh they should be uh feel really good at nvidia right now uh and you know i think the whole industry is looking forward to some competition uh increased competition in training and i think habana from intel will likely bring that and there are a collection of uh other players uh one of them's a wafer scale but really kind of focused on the military uh right now and then on the inference side i'm really interested to see what qualcomm has
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