Dear Reader, “The safety record of zeppelins was relatively unimpeachable prior to the Hindenburg, and that’s why the deadly disaster so shocked the public and devastated the rigid airship industry. In markets too, the most painful selloffs tend to involve things that people erroneously assume to be absolutely secure.” - Jonathan Levin, Bloomberg Even if Nvidia rebounds from its earnings disappointment quickly, it’s time to speak frankly about a risk they have no control over… On this week’s earnings call, Nvidia couldn’t avoid what I’ve been calling their “China Problem.” Nvidia reported ZERO sales in China due to the Trump administration’s ban on its chip sales overseas. That’s a $50 billion market that Nvidia currently can’t touch. “Who cares?” say the Nvidia bulls. “AI hyperscalers in the US, like META, Google and Microsoft will buy enough chips that China won’t matter.” Not so fast. There’s a much bigger problem… For folks that took the time to listen to those hyperscalers’ earnings calls, you would have heard ALL of them talk about the fact that they’re building their own custom AI chips. “AI can get costly. It's why we've invested in our own custom silicon…” said Amazon’s CEO. That means – as I’ve said 100 times already – Nvidia’s biggest customers could soon turn into their biggest competitors. In fact, I see a setup for failure that could cut Nvidia’s stock price in half… or worse. But while everyone’s focused on Nvidia’s future in AI chips, they’re ignoring a much more profitable corner of the AI boom. I’ve identified an incredible alternative stock that plays a critical role in building out the AI data center infrastructure. The media hasn’t caught up to the story yet, but when they do, this stock could leave Nvidia in the dust. Its hardware is in such high demand that in just one data center, there’s enough of it to stretch around the Earth eight times. And unlike Nvidia, this company’s customers depend on its tech and have no plans to build their own. If you own Nvidia, this might be the moment to lock in profits and upgrade. If you missed Nvidia’s run, this could be your second chance… I lay out the full story, including the name and ticker of this "Nvidia alternative,” in my newest presentation. Get the full details
“Sell Nvidia, Buy [][][]” play right here… Sincerely, 
Eric Fry
Senior Macro-Investment Analyst, InvestorPlace | 
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