Nvidia Q2 Preview: AI Bubble Is Popping
Summary
Nvidia's valuation is unsustainably high, with slowing growth momentum and increased geopolitical risks, especially from...
Nvidia's valuation is unsustainably high, with slowing growth momentum and increased geopolitical risks, especially from China's competition and export restrictions. AI infrastructure demand is cooling, as seen in GPT-5's underwhelming launch and a shift in customer focus toward inference efficiency over large-scale training. Sequential revenue growth is plateauing, with flat guidance for Q2 and a trend of downward analyst revisions, signaling normalization after hyper-growth.