Google has joined Amazon in attacking Nvidia's stronghold with AI app developers

Impact · against what's priced in

Google and Amazon are actively eroding Nvidia's developer moat by removing the software rewriting barrier for PyTorch, which threatens Nvidia's structural pricing power. While the market is already skeptical of Nvidia's long-term revenue projections, these tool releases provide a concrete mechanism for the growth deceleration the current price assumes. For Google and Amazon, the news supports the AI-driven cloud acceleration that the market currently refuses to pay for.

NVDA−0.30

Challenges what's priced in