The tape says AI is broken but the data says the opposite.
If you listened to any of the earnings calls, you'd have heard that customers are literally prepaying for data centers that haven't even been built yet. In some cases, 100% upfront. GPU rental prices are rising and demand still massively exceeds available capacity.
A lot of bears are getting very loud, and frankly disingenuous. They're using today's Jensen news and the resulting selloff as validation of their AI bear thesis. As if a CEO scandal somehow invalidates the demand for compute. The two have nothing to do with each other. Classic.
I don't believe these valuations will last. We're approaching a point where some of these cos could generate more annual revenue than their entire market caps today. And sooner than most people think.
The mkt is pricing fear while the underlying businesses are preparing to print billions in revenue.
The bottlenecks are still power and compute. Nothing about today's headlines changes that.
I'm more confident in my names than ever, and I can't help but treat these levels as gifts. The opportunity isn't going to wait for everyone to feel comfortable again.
Long $IREN $NBIS $NUAI