Nvidia Is the Cheapest It's Been Since 2019. Why Investors Should Load Up Now. - Yahoo Finance

NVIDIA has seen its market capitalization drop by $800 billion since hitting a record high in mid-May. Despite still being valued at nearly $5 trillion, its current valuation relative to trailing earn... Read original →

NVIDIA’s valuation dip to 2019 lows reflects not weakness but a recalibration of AI infrastructure over-exuberance. Technically, its GPU stack remains irreplaceable for large-model training, yet upstream segments—HBM memory, advanced packaging, optical interconnects—face demand volatility. Downstream cloud providers are moderating capex as they optimize compute procurement. Geopolitically, U.S. export controls reinforce NVIDIA’s high-end pricing power but inflate global supply chain redundancy costs, especially impacting foundries in Taiwan, China and South Korea. Rivals like AMD and Google are countering with open-software ecosystems to erode CUDA’s dominance. Over the next 12–24 months, the industry will shift from raw performance to TCO and energy efficiency. NVIDIA’s $80B buyback signals confidence, but sustained leadership hinges on maintaining a two-year architectural lead beyond Blackwell.