NVDA
NVIDIA
Portfolio weight
Not currently held
This position has been exited. The analysis below is kept as a record of the reasoning at the time and is not maintained as current research. See the Decision Log for the full decision history.
Historical position
NVIDIA was held and has since been exited. A full written thesis was not archived for this position, so none is reproduced here. Nothing has been reconstructed after the fact.
The decision history for this holding is preserved in the Decision Log, including the dated actions taken and the rationale recorded at the time.
Relative valuation
Forward P/E
Valuation data pending
Direct-peer average
Pending
Versus its own history
Historical forward-P/E series pending. Maintained by hand in data/fundamentals/manual.ts. No free, reliable source exists for consensus estimates, so nothing is inferred here.
Direct peers
used in the average
Similar enough that comparing multiples is meaningful.
AMD
Advanced Micro Devices
74% similar
fwd P/E pending
Strategic competitors
never averaged
Competing for the same customers or budget, but too different financially for their multiple to say much about this holding.
CBRS
Cerebras Systems
37% similar
fwd P/E pending
Excluded from peer average: competes for the same demand, but a different financial profile
CRWV
CoreWeave
28% similar
fwd P/E pending
Excluded from peer average: competes for the same demand, but a different financial profile
NBIS
Nebius Group
24% similar
fwd P/E pending
Excluded from peer average: competes for the same demand, but a different financial profile
APLD
Applied Digital
22% similar
fwd P/E pending
Excluded from peer average: competes for the same demand, but a different financial profile
Selected by weighted similarity across business model, revenue model, products, end markets, customer type, capital intensity, growth, margins and geography. Direct peers score ≥55% and sit within 2 diversification steps; only they feed the peer average.