Every AI cloud company is seeing an explosion in demand.
But their stocks haven’t moved the same way.
YTD:
• $NBIS +180%
• $CRWV +22%
• $IREN +7%
Remember the same dynamic between AMD and NVDA.
Over the last 17 months:
• AMD: +700%
• NVDA: +150%
Yet over the same period, NVDA’s revenue grew 118%, while AMD’s grew 55%.
Why?
Because AMD had massively lagged NVDA before that.
From the beginning of 2023 to April 2025:
• NVDA: +540%
• AMD: +25%
When an entire sector is benefiting from explosive demand, chasing the stock that has already made the biggest move isn’t always the best opportunity.
The laggards eventually start closing the gap.
I’m extremely bullish on NBIS long term.
But in the short term, CRWV and IREN have a lot of catching up to do.
But their stocks haven’t moved the same way.
YTD:
• $NBIS +180%
• $CRWV +22%
• $IREN +7%
Remember the same dynamic between AMD and NVDA.
Over the last 17 months:
• AMD: +700%
• NVDA: +150%
Yet over the same period, NVDA’s revenue grew 118%, while AMD’s grew 55%.
Why?
Because AMD had massively lagged NVDA before that.
From the beginning of 2023 to April 2025:
• NVDA: +540%
• AMD: +25%
When an entire sector is benefiting from explosive demand, chasing the stock that has already made the biggest move isn’t always the best opportunity.
The laggards eventually start closing the gap.
I’m extremely bullish on NBIS long term.
But in the short term, CRWV and IREN have a lot of catching up to do.
