Personally I think the price explosion had two groups of people driving it: The first group, which I am in, believes nvidia with its proprietary CUDA will conti

Personally I think the price explosion had two groups of people driving it: The first group, which I am in, believes nvidia with its proprietary CUDA will continue to grow its datacenter presence rapidly, and get some big contracts for field ML hardware. The second was looking for crypto exposure. The etherium bubble has mostly burst and it isn’t profitable (probably hasn’t been for a long time in most places) to buy nvidia cards for crypto mining. That and the trade war with China have taking half of the stock’s overheated value off. It’s still up quite a bit from ~$30 in 2016, and I think that reflects its real edge in ML hardware as well as some modest healthy growth in consumer gaming. I think, previously I assumed all the growth was from investors thinking like I was about their AI prospects and missed that I had picked a winner based on the crypto craze. I think a lot of smart money realized that and got out. Disclaimer: was very long nvidia, sold a lot in the 200s and hold a lot less these days.