On shovels, Nvidia, and the AI Gold Rush

Nvidia leapt up a few points today, after last night’s earning’s call, and Barron’s raced to report how grandly things were going, posting this headline at 10:28 am est.

But the “surge” on earnings appears to have been short-lived; all the opening gains have been lost as I write this three hours later. Instead, the stock is currently down for the day:

Where it will stop, up, down, or sideways, nobody knows. But here are some things worth considering, and which might explain why although earnings were excellent, some concerns remain.

Going into Nvidia’s report