This moving quickly and spreading beyond the grid. NVIDIA is being re-rated based on TSMC's ability to package the GPUs and the grid's ability to supply the steel that plugs them in. Jensen has conquered the demand side, but he can't really move the steel part of the equation. Look at forward earnings multiple vs historical. How does this resolve? Does Bloom become the model? Enbridge/Meta? Google/Intersect?
the more time passes the more I agree.
Thanks for sharing Jiri !
This moving quickly and spreading beyond the grid. NVIDIA is being re-rated based on TSMC's ability to package the GPUs and the grid's ability to supply the steel that plugs them in. Jensen has conquered the demand side, but he can't really move the steel part of the equation. Look at forward earnings multiple vs historical. How does this resolve? Does Bloom become the model? Enbridge/Meta? Google/Intersect?