By Joel South
Publication Date: 2026-05-09 11:30:00
Quick Read
Nvidia (NVDA) generated $68.13B in Q4 FY2026 revenue (up 73% YoY) with Q1 guidance at $78B, trading at $215 with a 24x forward P/E and 83% one-year gain, though the bear case warns hyperscaler CapEx growth of 10% clashes with Nvidia’s 40% guidance. Corning (GLW) surged 330% YoY as optical communications revenue jumped 36% to $1.85B, while AMD (AMD) climbed 94% YTD with Q2 guidance near $11.2B as Meta deploys 6 gigawatts of Instinct GPUs.
The AI infrastructure shift from GPU scarcity to power, cooling, and optical networking is redirecting investor dollars toward supporting companies, as competition intensifies and Nvidia’s own customers design competing silicon.
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The Fast Money panel on CNBC zeroed in on the question every AI investor is asking: How much longer can NVIDIA (NASDAQ:NVDA) keep printing? One panelist captured the bear unease bluntly, saying investors can’t get past the worry that “the party is going to end soon.”
The Bear Case: The Run Already Happened
The skeptical panelist remains a “big believer” in being in the “second inning of AI,” but trimmed NVIDIA because “there is no opportunity for them to change the narrative.” The core friction: Hyperscaler CapEx is modeled by the Street to grow roughly 10%, while Jensen Huang is guiding to a 40% trajectory. That gap has to close somewhere.
NVDA is up around 83% over one year and…
