#100 Nvidia is cheaper than the S&P 500. Someone is wrong.

The AI debate has moved past valuation and onto something harder to price: whether record capex converts into durable cash flow. From SpaceX's post-IPO wobble to China's cheaper models and the sector's circular financing, Anton du Plooy makes the case for why stock selection, not conviction on AI as a trade, will separate winners from losers. Hosted on Acast. See acast.com/privacy for more information.