Ok look. NVidia wasn’t valuable because AI was expensive. NVidia was valuable because AI is valuable.

Reducing the cost of AI doesn’t make it less valuable. This logical error naively assumes a fixed-size pool of AI demand.

But experience has shown, time and again, that as information technology becomes more efficient, it opens up new demand far in excess of the efficiency gain. This is why programmers are more valuable than they’ve ever been, even as each programmer is increasingly powerful.

Anyone dumping NVidia fundamentally misunderstands this well established relationship.