Futures trading points to a sluggish day on Wall Street

Impact · against what's priced in

Fed Chair Kevin Warsh's hawkish tone and lack of forward guidance create a macro headwind for valuation multiples, but this does not fundamentally alter the core growth drivers for NVDA. The market's current valuation for NVDA is driven by AI architectural transitions and revenue CAGR rather than immediate interest rate sensitivity.

NVDA−0.10

Challenges what's priced in

The price assumes

a terminal growth rate of 2.5% discounted at 9%

The shift toward potential September rate hikes and a hawkish Fed bias may put upward pressure on the 9% discount rate the market currently uses, slightly compressing the present value of future cash flows.

What NVDA's price assumes · Aug 25

• NVDA
• rates
• fed
• inflation
• jackson hole
• monetary policy
• treasury yields
• us markets

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