NVIDIA Corporation (NVDA)

He has more comfort owning TSM than NVDA. It means he doesn't have to bet on which horse is going to win the race, but owns the racetrack instead. NVDA's valuation is reasonably attractive. On another material pullback would probably do a deep dive on homework, as AI trend will go on for quite a while.

With MU, demand for memory has gone off the charts. Usually extremely cyclical part of the semi chain, but there's so much demand that supply hasn't caught up. A commodity-type company, so he has no interest in it.

The CEO is a rockstar and their gross margins remain huge. Blackwell chips were just unveiled but we haven't seen a Blackwell model come out yet. NVDA will continue its stranglehold and has a lot more pricing power. But watch competition, their margins and see how the next system rolls outl

Still trades below 1x PEG ratio. Still AI infrastructure king. Still backbone of hyperscaler AI arms race. Doesn't see growth in data centres slowing down.

Thinks estimates for 2027 (which is actually the next 12 months of 2026) are too low. New chips are just hitting the market, and every time they put out a new chip there's just more and more demand for it. Beyond chips and data centres, we're moving more into robotics -- thinks they'll be a leader in this area. Trading at 20x forward PE, too cheap for its upside in next 2-3 years. Yield is 0.02%.

Nuclear has really come into its own. Get your nuclear AI exposure directly through NVDA, MSFT, or CCO.

Free cash flow for 2026 is projected at $160 billion. Incredible. Are growing fast. Wants them to invest in the business rather than pay a dividend or buy back shares. Is bullish NVDA. The PE is around 26x and growing, but so is the EPS. Not worried about valuation. PEG ratio is 1.0.

It still has legs. Is trading at a 30% discount to its historic, median PE at 26.99x. The Groq deal signals that Nvidia is game on in the hunt for talent, and Groq is a great pick-up for tech talent. CEO Jensen is playing chess very well.

Would rather own Meta or Nvidia than Amazon, because the former have better multiples and earnings growth (for 2026).

The backlog for their chips is as strong as it's ever been. He doesn't see a competitor eclipsing them.

Their issue isn't fundamentals. Everybody is bullish it, but where is the marginal buyer to drive shares higher? It's a permanent compounder, but there is competition on the horizon.

Languished over the last few weeks, and so he's happy they have an underweight position.

Don't buy it at $183 today. If you want to trade it wait for it to drop 70% back to 2022 levels. It is not for a long term hold.

The knock against it is the circular investing. AMZN and GOOG just came out with new chips in the last week. Can be a very cyclical area. Everybody's putting their hand up and saying, yes, we're in an AI bubble. The CEO says we're not. Bubbles don't usually happen when everyone's watching.

Q3 was a beat and a raise. Blackwell sales are off the charts. The hyperscalers like that there's an independent source for chips. Buying back stock. Trades at 24x PE for 2027, growing at 38%. Excellent risk/reward.

There will be a tipping point for this stock, margins will come down, and you won't want to be in it. But it's way too early for that. AI will change everything, and these companies are only dipping in at 3%, while the rest of the world is way lower.