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The reality is we can’t trust accounting earnings anyway.

We need to see the cash flows.

And they actually can’t increase the price much.

Token generation is the metric Jensen Huang keeps pushing to temper analysts, which also affect nvidia’s future expected cash flows of course.

If increasing the price causes that metric to drop, the whole narrative falls apart and fear will spread in the stock market.

They’re all racing very close to the edge. Some closer than others.

The issue is investors want discipline.

They want to see the CEO communicate a path to profitability. Anthropic has - purely by focusing.

OAI in contrast is all over the place and they haven’t shown they’ve learned.

Zuckerberg got punished for his metaverse nonsense and investors were correct to be skeptical and reflect that in the stock price. Altman thinks he’s a god and the rules don’t apply to him. More fool him.

The reality is given how much OAI has raised, they have to get to a place where they are doing insane revenues…

We’re talking on the level of meta, google and probably more if they keep raising money.

They really went all in with hubris and they’re gonna get punished eventually.

I think the IPO and subsequent quarterly earnings where they will be pressured by analysts will pop it all.

I was watching a recent Jensen Huang Q&A with analysts and it was essentially “just trust me bro”. They’re all interconnected - once there’s a correction for one player, all get affected.

Can’t wait to finally get this over with so we can finally move on.

The gap between hype and reality needs to be corrected.