In my initial note on NVDA, it should read “former” instead of “latter”….
Glass half full would say this is a very good thing as it shows orders already lining up for H200 upgrade and shows AI chip is a recurring purchase (more companies doing this helps defeat peak eps case). H200s likely to carry better ASP/margins with it helping to offset tough comps beginning in Q2
Glass half empty is we hit an air pocket of demand in 1H, causing some investors to worry before we get more clarity on re-acceleration in 2H.
I think the
latterformer point is the reality of the situation, but we know how short-term uncertainty can cloud LT picture at times…
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