When will the chip that wants to make itself bigger burst the ox? As this new version of La Fontaine’s fable is worth 3,000 billion dollars and 6% of the S&P 500 index, Wall Street takes the question very seriously, and asks it with each publication of Nvidia. Like Taylor Swift concerts, the most anxious investors even perceive in the Californian a dimension of macroeconomic indicator, undoubtedly a great honor given to a company with 125 billion dollars in annual sales.
The latest release of figures from this quasi-monopoly of semiconductors powering large generative artificial intelligence models has strangely contradicted this vision of systemic value for markets and the economy.
