Thanks, I stand corrected. I guess at 35 times latest earnings it's more reasonably valued. Nvidia's growth in just the past year was stronger than I expected. At this level we need more nuanced arguments.

The next thing to explain the discrepancy between Nvidia's valuation and OpenAI's would be that Nvidia's monopoly position effective eats into the profits of the AI startups for the foreseeable future. Had OpenAI already been profitable, its valuation would have exceeded 86B.