Rene

Nvidia’s Q3 revenue surged 94% year-over-year to $35.08 billion, driven by explosive growth in its data center business, which more than doubled to $30.8 billion. While earnings and margins exceeded expectations, investor enthusiasm was muted due to Nvidia’s high valuation and the pressure to maintain its exceptional performance. The launch of its Blackwell chips highlights its technological edge but reveals supply constraints that may limit short-term growth despite strong demand. Long-term, Nvidia remains dominant, powering 95% of global AI models and benefiting from global AI investments and a $38.5 billion cash reserve. However, risks from intensifying competition, geopolitical tensions, and macroeconomic uncertainties could challenge its sustained growth.

https://www.cnbc.com/2024/11/20/nvidia-nvda-earnings-report-q3-2025.html

https://www.home.saxo/content/articles/equities/why-nvidias-story-is-far-from-over-21112024

https://www.euronews.com/business/2024/11/21/nvidias-strong-earnings-fall-short-of-lofty-investor-expectations

Small adjustment

The presentation was interesting, but it didn’t offer any new information that changed my perspective. I have no doubt that China will eventually succeed in developing commercially viable DUV and EUV machines, but it will take time. Some processes simply can’t be accelerated beyond a certain point, no matter how much money is invested. In my view, it will likely take them a few years longer than the timeframe suggested in this question..

Assad needs to stay out of Israel’s crosshairs as much as possible. So far, he has managed to keep Syria largely on the sidelines of the broader conflict, apart from occasional Israeli bombardments targeting Iranian assets or Hezbollah-linked positions. If he can maintain this approach, he may be able to focus on regaining control over territories still outside his reach, particularly if U.S. interest in supporting the SDF wanes.

P.S. Also correcting my previous forecast, which ended up going in the opposite direction of what I had intended.