The Dynamics of Inventories, Demand, Friendships, and Risk
Nvidia’s 14th straight beat-and-raise came with a clean balance sheet, while inventory risk tied to Blackwell GPUs has shifted elsewhere.
NASDAQ
Nvidia CORP
NVDA
251 stories
$4.6T Market cap · 2026-11-06
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NVIDIA: The AI Factory Is Still Undervalued
NVIDIA reported $81.6 billion revenue, $75 billion data-center sales and $49 billion free cash flow, then weighs custom chips, hyperscalers…
Nvidia should buyback stock
Nvidia enters earnings with a case for stock buybacks.
The Friendly Bear on X
@TylerHardt Odds $NVDA is the anchor investor in this new product? lol
Multiples Capital on X
Wild to see 5-yr returns of many of the MAG7 names vs several shipping names (across containerships, dry bulls, tankers, LPG, LNG) and before taking into account their meaningful dividends. One of them even beat $NVDA .... Valuation matters as a starting point. @Shipping_VIE @mintzmyer
Will Eatherton: How Cisco Plans to Compete in the AI Datacenter
Cisco targets AI data-center networking with GPU interconnects, modular high-radix systems and its NVIDIA partnership after exceeding its…
Multiples Capital on X
$NVDA vs $AMD
Multiples Capital on X
"Rally of the 2nd Tier": the runner-up is running the show over 6m/3m/1m time periods: • Silver > Gold ( $SLV > $GLD) • ETH > BTC • Small caps > S&P 500 ( $IWM > $SPY) Seeing it occur even in individual stock levels: • $AMD > $NVDA • $EXPE > $BKNG • $LYFT > $UBER What it implies: That breadth + beta has been improving, perhaps in anticipation of rate cuts and overall healthier economy than anticipated. Likely keeps the bull run going for now. Charts below
The Friendly Bear on X
$1.99/hr for $NVDA H100s in 2024
The Friendly Bear on X
Thought there was ample supply still parked on balance sheet in April $NVDA @eliav
catechwilliams on X
Meanwhile disintermediation by OEMs going direct is accelerating. See recent commentary from partners $CSCO, $PANW $DELL, etc. $PLUS has zero discernable benefit from $NVDA and AI.
Investor Letters
Letters that discuss NVDA.
- Palm Valley Capital Third Quarter 2025 Commentary Third Quarter 2025 NVDA $4.6TAVA $3.4BDOX $4.5B
- Patient Capital Management Samantha's Quarterly Letter 1Q25 NVDA $4.6TAMZN $2.9TDAL $57B
- Troy Asset Management Investment Report No.77 July 2023 6 months 2023 NVDA $4.6TCSCO $369BERIC $34B
- Impax Asset Management Impax US Sustainable Economy Fund Quarterly Commentary third quarter of 2026 AMAT $260BIT $13BKLAC $193B
- Elm Ridge Management Who Gives A Crap September 2026 AMZN $2.9TCSCO $369BDELL $245B
- Emerald Wealth Partners Quarterly Commentary – Growth Equity Strategy Q3/2026 META $1.6TORCL $363BAMAT $260B
- Parnassus Investments Parnassus Growth Equity Fund | Investment Commentary - 3Q 2026 3Q26 FIX $37BGEV $205BNTRA $53B
- Munro Partners Munro Global Growth Fund & MAET.ASX Quarterly report September 2026 quarter META $1.6TNVDA $4.6T
- Barometer Capital Management 3report third quarter 2026 AAPL $5TCAT $271BCNQ $102B
- HORAN Wealth Quarterly Investor Letter Fall 2026 Q3 2026 AAPL $5TMETA $1.6TMSFT $4T
- Nightview Capital Q3 2026 Investor Letter Q3 2026 AMD $660BAMZN $2.9TH $17B
- O'Keefe Stevens Advisory Quarterly Investor Letter Q3 2026 Q3 2026 OCTV $5.6BAMZN $2.9TCALY $3B
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