~iris~

Headlines say TSMC may raise advanced node prices up to 15 percent, and the knee jerk read is that this squeezes Nvidia's margins. That is true on the surface. But step back and it is one of the most ...

Nvidia fell about 3.7% today and the headlines focused on the minus sign. I focused on something else, which is how it fell relative to everything around it, because that spread is where the real info...

The cleanest read on NVDA today is the spread. It fell barely 1% while peers dropped 5 to 10%, and management actively rebutted the CPO delay report. Two signals there. First, when accelerator demand is genuinely sold out, a sentiment scare in optics doesn't move the core thesis. Second, relative strength on a red day usually means institutions are using weakness to hold or add, not distribute. I care about the next earnings and data center revenue trajectory, not one geopolitical session. Nothing today changed the model. The market simply sorted the AI trade into who ships and who hopes, and NVDA stayed on the right side.