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I'll start getting excited when they lose a further $100 and when nvidia also starts to considerably lose value
I think nvidia is the key here. If they start faltering then it’s game over. We could start seeing other affiliated companies like coreweave start missing targets by wider and wider margins which would begin signaling collapse.
Obvs if emergency loans or grants are handed out by the government then a collapse is assured.
Nvidia is the key, but they will also probably be the last to go. They are selling actual hardware for (mostly) actual $$$$