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by the end of the year I think Nvidia can reach $500 I see an obvious way to get there but it's a bold call so you're still optimistic about the market as a whole following a week in which we had guidance from arm Western Digital and Now intel and microchip oh no it's a smaller group because I'm confident in businesses that are assisting viia or truly focused on the GPU look during the Amazon conference call they stated that they are aware that they must invest in a to the extent that Nvidia is completely sold out they are likely to remain sold out until 2025 nobody is any less convinced that Nvidia will continue to be the main benefactor despite the spending commitments that Microsoft meta alphabet and Amazon have confirmed the market is now experiencing a bid rotation consumer concerns and whether the FED is now lighting behind or present but none of that seems to get to the Crux of the issue Nvidia will probably be sold out for a while they have to make their own chips if you listen to Amazon but that's a defensive tactic since they can't obtain enough this is my opinion about Amazon even if the stock is down today I would still buy it Amazon is purchasing aircraft and erecting hangers because they are aware of the high volume of business when purchasing a large number of planes you do not immediately place people on them instead you purchase them first incurring costs and then then wager that they are correct an alternative parallel would be that they are purchasing a Stratovarius which is not something that can be learned like a violin both learning and teaching are more difficult they can't immediately flick a switch and that's disturbing people I'm using analogies to illustrate that it takes time people said are you kidding when the Olympics were mentioned the nation is in 2012 mode watching the Olympics and making fewer purchases clients are phoning to inquire about possible delays in Blackwell Pur to Jeff's letter and there was a story that the doj was contacting nidia's Rivals who had been complaining they never stated that it will ship in large quantities at this time but it is slower Jensen never stated that it will ship in bulk anymore so people ought to go back and ask him the question of return on invested Capital remains but the hyperscalers have consistently responded with yes and Jensen agreed do you recall Zuckerberg's discussion of generative a according to jasse it will grow rapidly and be primarily developed in the cloud from the beginning enabling those companies to continue expanding there isn't a break for the cloud we should concentrate on that instead of the people who decide how to allocate Capital just one thing please if you were upset with me I apologize it's a huge day so I became a little excited I'm sorry about that the story of the a revolution remains intact despite the White Knuckles in the market our checks indicate that now is not the time to worry Elliot management recently advised investors that Nvidia is in a bubble and that a technology is overhyped with reality not living up to the hype according to the financial times I completely disagree we discussed it before to results and conference calls have a look at the Azure acceleration and Lisa Sue's remarks from AMD although the second half guidance suggests modernization we found azor's acceleration guidance to be underwhelming it's easy to yell fire at a packed theater these days even when the Bears have been there for years we perceive value that matches the hype so we don't see that I believe the street is underestimating the trillions of dollars that will probably be spent on ad capital projects across all tech companies over the next 3 to four years nothing we seen here altered that opinion as you say none of them are abandoning their capital expenditure plans in fact AO us increased sales growth by 19% return on investment over time is still a bigger concern but I think it will happen short-term uses are starting to appear in retail Insurance health care and finance the modernization phase has begun and we're only getting started thanks to contributions from people like Sundar and nadela we'll re-evaluate in January or February if we don't observe software monetization or wider acceptance outside of the Magnificent 7 or second third and fourth derivatives but for the time being what we're witnessing not just in profits but also in our checks has given me more confidence I've never seen anything bad about Bill McDermot and if he Sue nadela or cook see something I'll believe them more than people who are stoking the Flames this is the golden ticket to Tech Prosperity Nvidia is on fire everything is being revolutionized by I Nvidia is the force behind it all I'm living up to my rhetoric with these revenues get your Nvidia keychain now for less than $10 we are offering a huge discount for the first 100 purchases our investment committee members are taking action now robsin joins us you owned a number of tech Brands but not Nvidia Rob why did you purchase it now we looked at our portfolio which is benchmarked against the Russell 1,000 growth and found that mostly because we didn't own Nvidia our Average stock was up 15% while the index was up 21% we therefore saw an opportunity yesterday after being underwe onvia despite having high P/E ratios stocks such as oil shown decreasing growth in order to improve quality decrease our Tech underweight and match our portfolio with earnings in the upcoming weeks we transferred that money to Nvidia since we continue to believe that there is a short-term danger of Market Panic we did not acquire a complete position however volatility brings possibilities in order to close out lengthier Holdings we'd have also modified our duration if you're ready for it volatility might present possibilities as Rick reer said get your Nvidia keychain now for less than $10 we're giving the first 100 orders a huge discount yes here is an extension of the script in the same style nvidia's momentum is a component of a larger technological Evolution that is occurring in a number of Industries even in the face of Market instability the major players Amazon Microsoft meta and alphabet have all doubled down on their I budgets Nvidia is at the heart of this serving as the foundation of the a infrastructure that these businesses depend on in addition to being a provider these hyperscalers view Nvidia as crucial to carrying out their plans and they're not simply meeting a need they're establishing The Benchmark for an entire L new generation of AI capabilities therefore I believe it's obvious when people ask if the hype surrounding AI is in line with reality demand signals spending and adoption are all pointing in the same way some investors are now uneasy because they doubt I will yield a profit in actuality however investing in I creates long-term competitive Advantage rather than merely being a cost I is being rapidly used by businesses in a variety of Industries in including Health Care Banking and insurance in addition to the tech sector I is improving every aspect of this ecosystem including automating processes improving Predictive Analytics and updating workflows Nvidia is located directly at that Junction and the spending pledges we're witnessing provide assurance that this isn't just hype it's a development of the core principles of how businesses function take a look at Amazon's recent actions some may view their significant investment in developing their own AI infrastructure as a competitive strategy but in reality it draws attention to the lack of Supply in the industry there aren't enough Nvidia gpus to go around so Amazon is creating its own as a backup don't be Miss though their primary a initiatives still primarily rely on Vidia It Is by necessity a cooperation and you can know that this is a persistent deeply ingrained desire that isn't going away when you see other businesses doing the same from the standpoint of portfolio management this is problematic Nvidia Supremacy puts the conventional diversification concept to the test for those of us benchmarking against indices such as the Russell 1000 growth it's one of the few times when the performance of a single stock has enough weight to cause a sizable reallocation of the portfolio Rob sin discussed this change moving from defensive roles like oal to growth oriented ones like Nvidia that was a well-considered change based on vidious potential for Superior performance reducing tracking error and reallocating into better Tech positions is about planning for future profits in a growing industry not about following the latest trends the issue of more General market dynamics comes next macro factors like interest rates Bond movements and job data all cause Market turbulence but their effects are usually fleeting more intriguing and frequently disregarded is how businesses are handling similar difficult ulties on a smaller scale for instance despite ongoing Financial challenges Nidia is always inventing introducing new processors growing its ecosystem and figuring out how to satisfy the company's skyrocketing demand despite the high stakes they operate under they are demonstrating resilience which is boosting investor confidence
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