Dell's stock rockets 32% because they're selling more AI-related servers than ever before. However, the only reason they are selling more AI-related servers than ever before is because of Nvidia, yet Nvidia's stock has barely inched upward in months. These two situations cannot both be correct
If Dell is selling servers out the wazoo because of Nvidia and its stock soars, then Nvidia must also be sellling GPUs out the wazoo and its stock shoulld likewise soar. Saying we're at peak AI which is why Nvidia can't go higher makes no sense. It has consistently blown past every financial analysts expectations for the past two or three years. Dell's recent server spike is proof of this. If you think we're at peak AI then Dell shouldn't be anywhere near the price it's at now.