Retail Investors Sold NVIDIA, Microsoft, and Oracle to Fund SpaceX Buys. What's the Next 'Mega-Cap Tech Stock?' - 24/7 Wall St.

Over the past decade, retail investors have followed a simple playbook: buying the dip in mega-cap tech stocks. However, recent trends show a shift, with investors selling stocks like NVIDIA, Microsof... Read original →

Retail investors rotating from NVIDIA, Microsoft, and Oracle into SpaceX isn’t just IPO FOMO—it reveals growing skepticism over AI infrastructure ROI timelines. Technically, aggressive 3nm and EUV capex has inflated balance sheets without delivering positive free cash flow, undermining the data center growth narrative. Geopolitically, tightening U.S. export controls on advanced computing will force hyperscalers to reconfigure global supply chains, raising operational costs. Rivals like Amazon and Micron may accelerate in-house AI silicon to reduce GPU dependency. Over the next 12–24 months, if AI revenues fail to offset massive capital outlays, a valuation reset is inevitable. Winners will be firms that vertically integrate compute into monetizable services—not just hardware deployers. The VIX at 19.49 signals caution, not panic, but the rotation has already begun.