Nvidia’s valuation isn’t just an AI bubble, it’s a compute land-grab скачать в хорошем качестве

Nvidia’s valuation isn’t just an AI bubble, it’s a compute land-grab

Article link: https://open.substack.com/pub/johanos... Nvidia’s $5 trillion milestone looks like bubble territory at first glance, but it’s better understood as a global land-grab for computing power. The real story isn’t the share price; it’s that modern AI demands relentless infrastructure spending: chips, data centres, networking, cooling, and electricity. Nvidia sits at the centre of that demand shock, which is why markets are treating it less like a normal chipmaker and more like strategic infrastructure for the AI era. But the story can still crack for very practical reasons. Nvidia’s biggest customers are also powerful enough to reduce dependency through custom silicon and tougher pricing, and the company’s roadmap expectations create execution risk if production ramps slip or alternatives mature faster than expected. For South Africa and Africa, the takeaway is urgent: AI strategy is inseparable from infrastructure reality, and without affordable compute, reliable power, and a serious skills pipeline, we risk becoming permanent importers of intelligence rather than builders of it.