Sell NVDA by Nov 25, 2026.

Nvidia's official projection of 70% revenue growth for fiscal 2028 masks a fundamentally unsustainable spending cycle that cannot mathematically scale. Driven by hyperscalers, total AI capital expenditures are projected by Goldman Sachs and JPMorgan to reach $725 billion to $800 billion in 2026 before surging past $1.0 trillion to $1.2 trillion in 2027. However, this expansion relies heavily on vendor-backed "circular financing," where equipment makers subsidize their own buyers. A prime example is Nvidia's $100 billion investment in OpenAI combined …