Nvidia has officially entered correction territory after dumping -11.30% in just 8 trading sessions.
$640 billion has been wiped out from Nvidia's market cap over the same period. Huawei's new chip architecture is now directly challenging the hardware scarcity narrative that supported Nvidia's $5 trillion valuation. Source: Bull Theory
Over NT$82,000,000,000,000 ($2.57 TRILLION) has been added to Taiwan’s stock market in 2026 alone as it explodes 52% YTD.
Source: Bull Theory
The Nasdaq 100 closed >30,000 for the first time ever; 30,001.32 (+1.8%). (Clone)
Source: Lin @Speculator_io
Nvidia H200 cloud Tensor Core GPUs pricing has gone vertical, up 56% in just three days.
What stands out is that H200 pricing is now trading above the B200, despite the B200 being the more capable GPU. In a thin and illiquid market, it’s entirely plausible that a fund (hedge fund ?) could push up supply pricing at a cost of ~$50K per day to influence short-term moves in far more liquid AI-related equities. Source: Brandon Carl
The NVDA fade
The short-term gap between NVDA and SMH continues to widen, with the month-end dislocation pushing into extreme territory. Source: The Market Fear
"We are going to need a bigger boat..." ($NVDA...)
The biggest US tech firms now plan to spend as much as $725 billion this year on capital expenditures, primarily on AI data center equipment. Morgan Stanley now sees hyperscaler capex approaching $800B / $1.1 trillion in 2026 / 2027 (versus $765B / $950B) prior. That means we will also to need a lot of energy and raw materials for that !!! Source: Bloomberg, Morgan Stanley
Nvidia's Forward PE ratio is down 47 points, from 68.3x in Nov, 2021 to 21.3x today.
For context, Walmart trades at 43.1x, double Nvidia. Source: Matt Cerminaro
NVIDIA posted its best quarter ever
$68.1B revenue (+73% YoY) and Q1 guidance of ~$78B—but the stock fell, erasing post-earnings gains. CFO Colette Kress flagged potential long-term AI disruption from Chinese chipmakers. China exposure remains limited, with zero H200 chip sales and tariffs on U.S.-licensed shipments. The market reaction shows that when expectations are extremely high, even record results may disappoint. Source: Global Markets Investor, Bloomberg
