Nvidia, SK Hynix, Samsung and Micron are the only ones in this whole business that actually make large amounts of money, because they are the people selling the pickaxes and shovels for the gold rush. (Micron reported an absolutely insane 89% margin on the chips that go to vendors supplying the consumer market a few weeks ago - that number was around 30% before this madness started)
I agree that NVidias money flows are circular, but all that investor money that flows into AI companies is moving to those 4 companies and to pay the power bills.
Nvidia, SK Hynix, Samsung and Micron are the only ones in this whole business that actually make large amounts of money, because they are the people selling the pickaxes and shovels for the gold rush. (Micron reported an absolutely insane 89% margin on the chips that go to vendors supplying the consumer market a few weeks ago - that number was around 30% before this madness started)
I agree that NVidias money flows are circular, but all that investor money that flows into AI companies is moving to those 4 companies and to pay the power bills.