Executive Summary
Market Consensus: NVIDIA's Blackwell ramp validates AI infrastructure dominance, justifying premium valuations. Variant Perception: The admission that Blackwell margins will drop to 'low-70s' during ramp reveals peak pricing power dynamics. While revenue growth remains explosive ($35.1B, +94% YoY), the margin compression combined with pure insider selling (6.7M shares, zero buys) signals cycle maturation. Jensen's emphasis on 'Physical AI' and Omniverse creates a contrarian opportunity in 3D dev...
Key Investment Opportunity
Unity Software: The Hidden Physical AI Infrastructure Play
Jensen's emphasis on Physical AI and Omniverse validates the thesis that 3D development platforms are the foundational infrastructure for the robotics revolution. Unity trades at 2.6x revenue despite being the leading real-time 3D development platform that enables the 'world foundation models' Jense...
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