nVidia is at the point where they are "investing" in companies so that said company can buy GPUs from them which boosts revenue. AMD recently made news for this with OpenAI, but nVidia has been artificially boosting their revenue by doing this for years. What they are doing is actually illegal but green line must go up. Outside of some ETFs, I pulled all my money out of nVidia earlier this year. I made a life time of gains off of nVidia in basically 10 years. What's going on with the "magic 7" stocks right now reminds me of the niffty 50 stock crash. My financial advisor once told me "stock prices having nothing to do with what a company is actually worth."
People say don't try to time the market. I think in this instance that waiting is the better bet. So many of these companies are so ridiculously over leveraged, have massive amounts of debt with P:E's that don't match their stock price. The market is going to crash, it's already heavily strained. AMD does about half as much revenue as nVidia, but a significant sum of nVidias revenue is from circular investing. They make money, "invest" it in a company that then uses that money to buy GPUs from them. That also allows them to use that money as a tax write off.
There is so much money going around in a circle right now between these tech companies. I can't remember who it was, I think it was Oricale, who bought a bunch of GPUs, leased them to another company and said they would buy all the compute that they generate from said company.
