If you believe in technical analysis of stocks, NVDA formed a double top in mid-July which is an extremely bearish signal. (If I am not mistaken, it’s caused by many investors switching from long to short position… Or some kind of magic like that. The data is out there regarding short sales, but I just gotta look, and I am lazy.)
But yeah, something more realistic is the recent trickle of news about OpenAI starting to falter financially which is compounded by the recent (free’ish) release of Llama 3.1.
LinkedIn is silent on AI, and has been silent for a while. The AI snakeoil companies are dead silent on there now and most major companies have reverted their direct marketing back to pre-AI crap.
So yeah, the cracks have been forming for a while and I think NVidia has better things to worry about than a dedicated AI chip. (“Design flaws”, my ass. )
I don’t believe in TA, but I do think if if we don’t see any large scale monetizable “AI” use cases in the next 12-18 months, Nvidia’s stock price is going to get hit.
Small scale, relatively niche “AI” use cases will continue to grow and develop, but I am talking about novel products that would support Nvidia’s current valuation, not niche techy use cases.
If you believe in technical analysis of stocks, NVDA formed a double top in mid-July which is an extremely bearish signal. (If I am not mistaken, it’s caused by many investors switching from long to short position… Or some kind of magic like that. The data is out there regarding short sales, but I just gotta look, and I am lazy.)
But yeah, something more realistic is the recent trickle of news about OpenAI starting to falter financially which is compounded by the recent (free’ish) release of Llama 3.1.
LinkedIn is silent on AI, and has been silent for a while. The AI snakeoil companies are dead silent on there now and most major companies have reverted their direct marketing back to pre-AI crap.
So yeah, the cracks have been forming for a while and I think NVidia has better things to worry about than a dedicated AI chip. (“Design flaws”, my ass. )
I don’t believe in TA, but I do think if if we don’t see any large scale monetizable “AI” use cases in the next 12-18 months, Nvidia’s stock price is going to get hit.
Small scale, relatively niche “AI” use cases will continue to grow and develop, but I am talking about novel products that would support Nvidia’s current valuation, not niche techy use cases.