If AI really is as productive as this valuation claims then by then someone will have used it to invent a better cuda, and unless that's nvidia themselves they

If AI really is as productive as this valuation claims then by then someone will have used it to invent a better cuda, and unless that's nvidia themselves they will lose their moat If AI isn't this productive then they are still the safest bubble company in the bubble. This situation, to me, says that most people are unsure of how productive AI will be so they don't want to directly invest in it, but following dot com logic companies partaking in tech bubbles will still beat the market as long as their P/E isn't in the multi hundreds year on year. Nvidias' P/E is similar to intel back then iirc