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Nvidia shares jump nearly 7% to lead tech rebound

There’s a guy at Nvidia right now talking about NVDA being valued at $6 trillion, which isn’t the kind of thing you see in the deep end…

Regardless, shares are up nearly 7% today, in a huge rebound that nearly erases yesterday’s decline. The rebound came just above the 38.2% retracement of the April-June move.

It’s an impressive move that weighs on the Nasdaq, which is trading at a high of 1.3%.

My question for the broader market: If NVDA revenues are $120 billion next year and climb to $250 billion by 2029 – which is the consensus – where will that money come from ?

Nvidia said just two customers in the first quarter accounted for 24% of revenue. Last year, one company was responsible for 19% of revenue. If we expect this much revenue for Nvidia, do we expect so much investment from mega-cap technology?

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