I’m still bullish on Nvidia’s business, but at this stage, the biggest risk isn’t whether AI demand exists—it’s whether future growth can beat what the market has already priced in.

The US$3–4 trillion AI infrastructure opportunity is enormous, and Nvidia’s move from GPUs toward full AI systems, networking, robotics and cybersecurity could expand its addressable market significantly.

But a great company doesn’t automatically mean a great stock at any valuation. Rising competition, supply constraints, customer concentration and eventually slowing growth could all pressure the multiple.

Burry closing his puts is interesting, but I wouldn’t treat it as a buy signal.

For NVDA, execution must keep outrunning expectations.

@WallStreet_Tiger [正经]