NVDA is up only 9% YTD while the semiconductor index ripped 77% — is this the biggest disconnect in the market right now?
The company capturing 65-70% of all AI capex spending is trading at a 30-35% discount to the hyperscalers that buy its chips. That's honestly kind of wild to think about. 2027 Forward P/E at 15.7x, while big tech averages 22x. …