Long the leading light of the industry, Nvidia has had a bad couple of months. Bloomberg has the ugly details , but the upshot is that the company’s stock price has fallen 15% since its peak in May, even as projected revenue continues to grow. Compared with expected earnings, the company is now cheaper than the S&P average; investors are paying less per dollar of Nvidia’s projected profit than they do for the typical large American company. Money is still flooding into AI infrastruc…
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