Nvidia's Aggressive Investment Strategy Raises Questions Amidst AI Boom

Nvidia's Growth Story Is No Longer Bulletproof, Ed Yardeni Warns - CoreWeave (NASDAQ:CRWV), Intel (NASDAQ:INTC)

One of Wall Street's loudest bulls just hit the brakes on Nvidia Corp. (NASDAQ: NVDA), raising questions over its slowing growth and head-scratching billion-dollar bets, even as the AI titan crossed a $4.4 trillion market cap. In a note shared Thursday, Ed Yardeni said that Nvidia's story is getting messy. He pointed to some red flags hovering over the chipmaker's future growth strategy. His primary concern? The slowing pace of data center revenue expansion and the company's aggressive, even eyebrow-raising, investments in companies that are expected to become future buyers of Nvidia chips. Is Nvidia Buying Its Own Growth? "Nvidia has been seeding its future demand by investing huge sums in companies that will likely grow into big purchasers of Nvidia chips," Yardeni said. "Will the investments bear the hoped-for fruit?" He's not alone in wondering. The tech giant's recent actions appear more like those of a hedge fund than a chipmaker, raising questions about whether its growth is still organic -- or increasingly manufactured. The boldest deal so far is Nvidia's pledge to invest up to $100 billion in OpenAI. The funding will be rolled out in $10 billion increments, with the first phase scheduled for launch in late 2026. The first round valued OpenAI at $500 billion; subsequent tranches will depend on future valuations. Nvidia was already an investor, having joined the $6.6 billion funding round in 2024 with a $100 million stake. But this latest commitment dramatically raises the stakes -- and expectations. There's a domino effect: OpenAI recently agreed to spend $300 billion on Oracle Corp. (NYSE: ORCL)'s computing infrastructure starting in 2027, silencing skeptics who questioned whether the AI firm could afford it. With Nvidia chips powering Oracle data centers, the whole arrangement feels like a closed circuit. Adding a political twist, OpenAI also committed $100 billion toward President Donald Trump's Stargate Project, an ambitious plan to build data centers across the U.S. and beyond. Total projected costs? $1 trillion. Nvidia's gear will almost certainly be embedded in these facilities. According to Yardeni, Nvidia's stock is beginning to draw parallels to Cisco's meteoric rise in the late 1990s -- a rally that ended in a brutal 2000 crash. Nvidia Buys Into Intel, CoreWeave And UK Startups Another unusual move came on Sept. 18, when Nvidia took a $5 billion stake in Intel Corp. (NASDAQ: INTC) at $23.28 per share, with plans to co-develop data center and PC products. Intel shares skyrocketed, but some analysts were puzzled by the move -- especially given Nvidia's edge in AI chips. The same day, Nvidia announced it would pump £2 billion (about $2.7 billion) into the UK's AI startup ecosystem and separately invested $500 million in Nscale, a data center company that utilizes its chips. Then there's CoreWeave Inc. (NASDAQ: CRWV), an AI-focused cloud provider. Nvidia first invested $100 million in 2023, followed by a $250 million stock purchase during CoreWeave's rocky IPO in March 2025. That wasn't all -- Nvidia also committed to buying any unused server capacity from CoreWeave through 2032, a deal valued at $6.3 billion. Can Nvidia Afford All This? On the surface, yes. Nvidia ended its fiscal second quarter with $56.8 billion in cash and marketable securities and just $8.5 billion in long-term debt. The company generated a massive $42.8 billion in operating cash flow in the quarter and used $9.7 billion for share buybacks. Despite all the spending, Nvidia shares are not showing signs of stress. The stock hit a new 52-week high on Monday and is up 32.9% year-to-date. Analysts expect 39.5% revenue growth over the next 12 months, alongside 44.3% earnings growth. At a forward price-to-earnings ratio of 31.1, its valuation still looks reasonable. But What If The Funding Stops? Yardeni's worry is clear: if these startups -- particularly OpenAI and CoreWeave -- stop receiving external funding or encounter operational roadblocks, Nvidia's demand pipeline could dry up quickly. "As long as companies like OpenAI and CoreWeave can continue to raise billions of dollars from Nvidia and others to build data centers, Nvidia's chips should stay in demand," he said. "But the day that stops, watch out." Read now: Biggest Mining Stocks Boom In 50 Years Is Crushing S&P 500 -- A 'Once-In-A-Generation' Trade? Photo: Shutterstock CRWVCoreWeave Inc$128.84-3.42%OverviewINTCIntel Corp$31.541.02%NVDANVIDIA Corp$174.09-1.63%ORCLOracle Corp$296.16-3.99%Market News and Data brought to you by Benzinga APIs

For Nvidia Investors, CoreWeave Could Become a Hidden Profit Engine

Nvidia CEO Jensen Huang is investing where he thinks the growth is headed. It's no secret that Nvidia (NVDA 0.27%) is a driving force in the ongoing artificial intelligence (AI) infrastructure build. Its graphics processing units (GPUs) and computing platforms are filling data centers with the power of accelerated computing. AI models are being developed, trained, and commercialized using this compute power. Nvidia has been smart to invest its own profits in the ecosystem its products have helped create. Nvidia's largest equity investment is with specialized cloud infrastructure company CoreWeave (CRWV -4.96%). Here's why that could be another lucrative move for Nvidia, and why investors should expect revenue and profits for the AI leader to keep growing. Nvidia is skating to where the puck is going Nvidia invests in other companies within the AI infrastructure ecosystem. It focuses on start-ups and other companies aligned with areas within Nvidia's own strategic growth plans. That includes AI, gaming, autonomous vehicles, and other advanced technologies. As is required by other large institutional investors, Nvidia files a Form 13F with the Securities and Exchange Commission (SEC) disclosing its holdings in publicly traded securities. Its most recent filing showed investments in six different technology companies. All six companies operate in areas where GPUs and related technologies are crucial. CoreWeave is its largest investment by far, with more than 24 million shares worth over $3.2 billion at recent price levels. Nvidia knows where growth is headed. As hockey legend Wayne Gretzky once famously said, "Skate to where the puck is going." A huge new Nvidia partnership will benefit CoreWeave A major recent announcement proves this point. Nvidia just revealed a strategic new partnership with ChatGPT creator OpenAI. Nvidia plans to invest as much as $100 billion in OpenAI. That investment will fund OpenAI's aspiration to establish and launch a minimum of 10 gigawatts worth of AI data center capacity. Those facilities will be filled with billions of dollars worth of Nvidia GPUs to support OpenAI's constantly improving AI infrastructure. OpenAI CEO Sam Altman summarized the long-term thinking this way: Everything starts with compute. Compute infrastructure will be the basis for the economy of the future, and we will utilize what we're building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale. It won't just be Nvidia and OpenAI realizing benefits. The massive investment indicates just how much demand there is for data center AI infrastructure. That's where CoreWeave comes in. The company is an AI hyperscaler providing cloud services through the quickly growing data center assets it owns and operates. Nvidia knows there is still a huge imbalance between supply and demand for data center compute capacity. If it didn't strongly believe that, it wouldn't have committed such a large amount in its OpenAI partnership. CoreWeave investment should pay off Nvidia is at the center of much of the AI infrastructure build-out. Owning a stake in CoreWeave is yet another tentacle for revenue growth. Nvidia's investment is a big part of its strategy to vertically integrate itself within the AI ecosystem. Consider that CoreWeave and Nvidia just signed a $6.3 billion cloud computing capacity order. It even includes a guarantee that Nvidia will purchase any data center capacity not acquired by CoreWeave's own customers. Nvidia has positioned itself to gain not only from the advanced chips it sells, but also the platform that deploys them. It's not a coincidence that the CoreWeave ownership represents over 90% of the equity investment value reported most recently by Nvidia. Nvidia arguably knows more about all the dynamics involved with the AI infrastructure revolution than anyone else. Nvidia stock is trading up by more than 33% so far in 2025. As investors see the complementary growth of CoreWeave and data center infrastructure, along with Nvidia's own revenue strength, there could very well be more upward pressure on Nvidia shares.

CoreWeave's AI Climb Still Hides Untapped Firepower (NASDAQ:CRWV)

New! Get unlimited breaking news with a free Seeking Alpha account " Elevator Thesis CoreWeave (NASDAQ:CRWV) has clearly become one of the key building blocks in the bigger AI puzzle. The AI giant effectively leverages its tailor-made GPU cloud infrastructure in catering to the surging computing demand. Perhaps its biggest flex is having NVIDIA (NVDA) in its corner, paired with massive multi-year AI contracts that have propelled it as a leading neocloud giant. Moreover, CoreWeave's sales have more than tripled year-on-year (to $1.21 billion in Q2 2025), led by unprecedented AI workload demand. That incessant compute demand has pushed its adjusted EBITDA margins to an eye-catching 62%. Crucially, CoreWeave continues locking in multiple long-term agreements (many of which are 4-6 year contracts) with top AI players like OpenAI, ensuring a baseline of recurring, pre-sold sales. On top of that, its innovative take-or-pay model (clients pay whether or not they use the capacity), along with a potent Nvidia-backed capacity deal, helps de-risk its expansion. Hence, despite the stock's 200%+ surge since its March IPO, there's plenty of room for CoreWeave to run and capitalize on a multi-year AI buildout cycle while tapping into GPU shortages. In totality, CoreWeave presents itself as a unique pure play on the AI infrastructure boom, backed by tremendous scale, contracts, and technological edge, which translates today's demand into superb long-term upside for investors. Backlog and Pricing Power Keep CoreWeave's Runway Wide CoreWeave is executing brilliantly on what's an incredible growth runway in AI infrastructure, backed by structural tailwinds and the company's savvy strategy. Global demand for AI computing power comfortably exceeds supply at this point, creating a seller's market for GPU cloud capacity. In that scenario, CoreWeave has positioned itself expertly to bridge this supply-demand gap while rapidly building data centers and securing customers through long-term contracts. Unlike traditional cloud computing, AI workloads are remarkably sticky and continue intensifying as a model is deployed, requiring continuous GPU compute to serve users. This dynamic results in higher, recurring utilization for CoreWeave's clusters, instead of sporadic usage patterns that we see in typical cloud apps. As CEO Michael Intrator noted, "We are scaling rapidly to meet unprecedented demand for AI. Our purpose-built AI cloud platform continues to set new benchmarks...becoming the first company to offer the complete Blackwell GPU portfolio at scale, making CoreWeave the platform of choice for the world's most advanced AI workloads." Also, CoreWeave is able to effectively lock in growth before building. Through its massive take-or-pay deals, customers pay for GPUs the moment capacity comes online, while pre-selling expansions. That's why its head-turning backlog hit $30.1 billion by mid-2025. Contracted power surged to 2.2 GW as of Q2 2025 (from 470 MW active), with 900 MW due online by the end of the year, and is already spoken for. This visibility supports financing, including a $20-$23 billion 2025 capex plan and debt. On top of that, scarcity adds pricing power. With state-of-the-art Nvidia GPUs tight, CoreWeave has the ability to charge premiums while undercutting traditional clouds, thanks to tailor-made efficiency, as its platform can be up to 80% cheaper for AI training than AWS/Azure in some cases. CoreWeave Strengthens Lead With Major Hyperscaler Pacts CoreWeave's rise is perhaps best captured through its blockbuster OpenAI partnership. In March 2025, it struck a whopping $11.9 billion deal in offering dedicated GPU cloud capacity, with OpenAI also taking a hefty $350 million equity stake. If that wasn't enough, the past few weeks have seen the total contract value jump to $22.4 billion, including a fresh $6.5 billion add-on this month. For context, one startup now holds $22 billion in committed sales, a staggering figure that sheds light on AI's compute hunger and CoreWeave's ability to deliver. OpenAI CEO Sam Altman called CoreWeave "an important addition" to its infrastructure portfolio alongside Microsoft (MSFT) and Oracle (ORCL). However, OpenAI's just one piece of CoreWeave's evolving client roster. In Q2, it inked multiple expanding deals with names like Cohere, Mistral AI, Toyota (TM), LG, and even the U.K. government, with £1.50 billion pledged for UK data centers. CoreWeave is also deepening ties with Microsoft and Google (GOOGL), as the tech giants turn to neoclouds to handle overflow AI demand. CoreWeave's contract wins are now showing up in its quarterlies. In Q2 2025, revenue skyrocketed to a healthy $1.213 billion, up from $395 million a year ago (+207% growth) as big deals like OpenAI scaled. Gross margins held up in the low-60% range, resulting in a superb $753 million in adjusted EBITDA. Additionally, GAAP net loss came in at $(290) million, due to the heavy depreciation from its colossal buildout. The company is pushing a $20-$23 billion 2025 capex plan to install GPU-rich data centers, power, and cooling. A final piece of CoreWeave's puzzle is its deep partnership with AI giant Nvidia. Nvidia not only owns a chunk of CoreWeave's enterprise, but this month it committed to a head-spinning $6.3 billion deal through 2032, de-risking CoreWeave's growth. The partnership entails that if CoreWeave ever has idle GPU capacity, Nvidia could buy it, giving the former a sturdy floor. Jensen Huang hailed these GPU-first providers as "AI factories," with CoreWeave being the prime example. In fact, CoreWeave, Nvidia, and IBM (IBM) recently submitted the largest-ever MLPerf benchmark, 34× bigger than any other cloud. Furthermore, CoreWeave is moving up the stack to deepen its moat. In mid-2025, it scooped up Weights & Biases (W&B) for $1.7 billion. W&B is perhaps the most widely used MLOps platform with model tracking tools, experiment management, and deployment, embraced by thousands of researchers. Integrating W&B into CoreWeave's infrastructure is a huge feather in the cap, enabling developers to train, iterate, and deploy AI models within its ecosystem, while supercharging CoreWeave's ambition to build an end-to-end AI cloud ecosystem. Valuation Assessment Since its IPO, CoreWeave has gone on a tear, surging from $40 to $120, posting an over 200% gain. That incredible jump has left many questioning its valuation, but the numbers still have a ton of room for expansion. It currently trades at around 12.48 times forward sales, but despite being pricey, it's a big reset from earlier this year when shares went for an eye-opening 30× forward sales. In other words, fundamentals are catching up fast, and the stock looks reasonably priced for its growth curve. Additionally, its profitability also shines through. CoreWeave 62% adjusted EBITDA margin in Q2 and a 75% gross margin, underscoring superb operating leverage as scale builds. In contrast, hyperscalers such as Microsoft Azure (growing ~30-40%) and AWS are slower, with their broader business lines weighing on margins. CoreWeave's pure-play AI focus helps it command a premium, and with GPU scarcity persisting into next year and a robust AI investment super-cycle in full swing, the stock looks mostly attractive. Additionally, Wall Street still sees healthy upside for CoreWeave despite its rally. The stock's consensus 12-month target is $145, 15% to 20% above current levels. Wells Fargo recently bumped its rating to Overweight and boosted its target to $170 (from $105), based on stronger-than-expected AI demand and improving unit economics. Also, Melius Research initiated with a Buy and $165 target, while Argus went further with a $200 target, implying 50%+ upside from $120. Argus analysts said that CoreWeave stock would be trading at 20× sales, which is still reasonable given its 200%+ revenue growth and critical AI role. From the snapshot above, the consensus implies rapid compression in its P/S ratio as revenue ramps. In 2025 estimates ($5.26 billion), CoreWeave trades at 12.5x sales. However, if we go forward to 2026 ($12.08 billion, +130% YoY), the multiple halves to 5.4x. By 2027 ($17.91 billion, +48%), it falls to just 3.7x. Moreover, it's important to note that CoreWeave's rich valuation doesn't stand alone. For instance, its popular neocloud peer Nebius Group (NBIS) surged 60% in one session after unveiling a massive $17.4 billion, 5-year AI capacity deal with Microsoft. Nebius is also trading at lofty multiples, in part due to its 625%+ revenue expansion, but I'd argue that CoreWeave's larger scale and deep Nvidia tie-up justify an even higher premium. Risks to the Thesis CoreWeave's growth story is impressive, but it doesn't come without its fair share of risks. The first and most obvious point is that the business is scaling hard and comes with heavy costs. A testament to that notion is its recent $2 billion bond issuance at a steep 9.25% rate, which means it owes $185 million in annual interest, adding to ongoing net losses (CoreWeave lost $290 million in Q2) Total debt and financing obligations have already topped $22 billion, and if we witness a slowdown in AI demand and customer ramps get delayed, CoreWeave will face a fresh cash crunch while still looking to fund its data center buildouts. Margins are already thin at just 2% GAAP operating margin in Q2, while energy costs loom large. GPU farms are power-hungry, and the rising electricity prices will pressure their bottom line further, especially with the long-term fixed contracts in place. Then there's competition. While CoreWeave leads the pack among neoclouds, hyperscalers like Amazon Web Services (AMZN), Google, and Microsoft are catching up quickly. Also, they've got the scale and deep pockets to price aggressively if they wish to. Customer concentration is another red flag. A few giants, including OpenAI, Microsoft, and Meta Platforms (META), are driving much of CoreWeave's backlog. If any of them pull back, renegotiate, or go direct, the company takes a major hit to its revenues. Takeaway on Coreweave Stock CoreWeave isn't just riding the AI wave; it's basically helping to build the entire shoreline. Backed by Nvidia and multiple 4-6 year take-or-pay contracts from AI titans like OpenAI, along with 62% EBITDA margins on tripled sales, the company is locking in breakneck demand before others catch up. Even after a massive 200% post-IPO rally, its long-term runway remains as healthy as ever, on the back of GPU scarcity, contract visibility, and scale. For those hunting for pure play on the AI infrastructure boom, CoreWeave remains the sharpest pick at this point. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks. Undercovered Deep Insights is led by Moz (Muslim) Farooque, a seasoned market analyst and storyteller whose research has been featured on Seeking Alpha, Yahoo Finance, InvestorPlace, Barchart, Equities, and GuruFocus. Moz combines investigative financial journalism with robust modeling to unearth under‑the‑radar stock and crypto opportunities. He's a Fellow Member of ACCA and holds a BSc in Applied Accounting and Finance from Oxford Brookes University. Analyst's Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. You can't control the market. But you can control how you invest. Breaking stock news is now free. Create your account to stay informed -- and explore the insights behind every move.

CoreWeave's Growth Story Gets a $6.3 Billion Lifeline: What Long-Term Investors Should Know

This cloud artificial intelligence (AI) infrastructure provider's latest deal could ensure years of solid growth. It's been just six months since CoreWeave (CRWV -4.96%) went public, and the stock has more than tripled in its short life as a public company, despite witnessing bouts of volatility during this period. The stock's rapid rise has been fueled by its fast-improving revenue pipeline, but at the same time, investors have been worried about certain factors. From CoreWeave's rapidly rising debt to stock dilution on account of its $9 billion Core Scientific deal, shares of the company have slipped significantly since hitting a high nearly three months ago. However, the company's latest deal with Nvidia (NASDAQ: NVDA) could help assuage investors' concerns to some extent and set CoreWeave up for more upside. Nvidia's guarantee is great news for CoreWeave investors CoreWeave has built its business by offering dedicated artificial intelligence (AI) data centers powered by graphics processing units (GPUs) from Nvidia. It rents out its cloud computing capacity to the likes of Meta Platforms and Microsoft, which account for the majority of its top line. It has also added a third big customer in the form of OpenAI. The ChatGPT maker offered an initial contract worth $11.9 billion to CoreWeave in March this year, before enhancing the size of the deal by another $4 billion. And now, Nvidia has signed a $6.3 billion contract with CoreWeave that will guarantee the latter's revenue growth in the long run. Under this agreement, Nvidia will be purchasing any unsold data center capacity from CoreWeave through April 2032. In a filing with the Securities and Exchange Commission (SEC), CoreWeave pointed out that "Nvidia is obligated to purchase the residual unsold capacity" of its data centers in case its "data center capacity is not fully utilized by its own customers." CoreWeave's existing data center capacity is falling short of demand. CFO Nitin Agrawal remarked on the August earnings conference call that CoreWeave's "growth continues to be capacity-constrained, with demand outstripping supply." This is evident from the fact that its contractual backlog increased by close to $14 billion year over year in Q2, driven by the multibillion-dollar contracts the company signed in the quarter. For comparison, CoreWeave's Q2 revenue increased to $1.2 billion from $395 million in the year-ago period. Not surprisingly, the company is laser-focused on bringing online more data center capacity so that it can fulfill its massive revenue backlog worth $30 billion. It currently operates 33 dedicated AI data centers in the U.S. and Europe, with active power capacity of 470 megawatts (MW). However, it has been increasing its contracted data center power capacity at a nice clip so that it can bring more active capacity online. Specifically, CoreWeave's contracted data center power capacity increased by 600 MW in the previous quarter to 2.2 gigawatts (GW). But even that might not be enough in the long run, as according to McKinsey, data center capacity demand could grow by 4x between 2023 and 2030. The firm estimates that global data center capacity demand could hit 220 GW in 2030 from 55 GW in 2023 in a midrange scenario. So there is a good chance that CoreWeave could remain capacity-constrained in the long run thanks to the AI-powered data center boom. For instance, McKinsey is expecting a deficit of more than 15 GW in data center power capacity in the U.S. itself by 2030. As such, CoreWeave may not be left with any residual capacity to sell to Nvidia going forward, as there is a good chance that data center demand will continue to be stronger than supply on account of AI. And now, Nvidia's guarantee gives CoreWeave investors an extra cushion that should ensure healthy long-term growth for the company, even if there's a drop in AI computing capacity requirements. What should investors do? Nvidia's guarantee suggests that the demand for AI computing is likely to remain robust in the long run. This should ideally translate into a bigger backlog and stronger growth for CoreWeave, which is just what analysts are expecting from the company through 2028. CRWV Revenue Estimates for Current Fiscal Year data by YCharts The massive opportunity in the cloud AI infrastructure market should help CoreWeave sustain impressive growth rates beyond 2028. For instance, even if it clocks 20% annual top-line growth in 2029 and 2030, its revenue could hit $25.6 billion. If the stock is trading at even 5 times sales at that time, in line with the Nasdaq Composite's average sales multiple, its market cap could get close to $130 billion. That would be more than double CoreWeave's current market cap. Importantly, CoreWeave can now be bought at 16 times sales, which isn't all that expensive when we consider its remarkable growth. So investors looking to capitalize on the AI cloud infrastructure market's long-term growth potential can consider buying this AI stock right away, especially considering that the Nvidia deal is a vote of confidence in CoreWeave's -- and the AI data center market's -- prospects.

Nvidia's story is getting "messy" amid string of investments, Yardeni says By Investing.com

Investing.com - The narrative around Nvidia is getting "messy" as the artificial intelligence darling plugs massive investments into smaller companies which are, at the same time, its customers, according to analysts at Yardeni Research. In a note, the analysts flagged that, although Nvidia has the cash on hand to fund these investments, the firm's fortunes are now "closely tied to those" smaller players. "As long as companies [...] can continue to raise billions of dollars from Nvidia and others to build data centers, Nvidia's chips should stay in demand," they wrote. "But the day that stops, watch out." Earlier this week, Nvidia announced that it would invest up to $100 billion in OpenAI in order to help the ChatGPT-maker build out data centers that are likely to utilitize Nvidia's AI-optimized chips. It was the latest in a string of investments the California-based semiconductor giant has pledged in recent days. Last week, the firm said it would take a $5 billion stake in ailing U.S. chipmaker Intel, with both groups also planning to jointly develop personal computer and data center processors. Nvidia has said it will plug roughly $2.7 billion in the U.K.'s AI start-up ecosystem as well, and invested $500 million in British data center name Nscale. Nvidia previously invested $100 million into CoreWeave in 2023, then purchased a further $250 million in stock when the outlook for the AI-enhanced cloud provider's initial public offering was murky last March. Media reports have said Nvidia has agreed to buy any unsold capacity in CoreWeave's server -- which are filled with Nvidia's own chips -- through April 2032. Analysts at Vital Knowledge highlighted what they described as the "circular nature" of these financing arrangements, which would see Nvidia in effect supporting its own clients. They added that the agreements have cast a slight pall over soaring enthusiasm around AI in the last few days. "[I]f AI is such an unstoppable phenomenon, why is Nvidia financially backstopping two of its biggest customers, OpenAI and CoreWeave?" they wrote. Still, Nvidia's shares do not seem to suggest investor concern around the investments, the Yardeni analysts argued, noting that the stock touched a 52-week high on Monday. So far this year, the AI bellwether has climbed by more than 27%.