The AI Supply Chain Just Confirmed Nvidia's Future

TSMC and ASML both raised guidance, confirming AI infrastructure remains supply constrained, while Rubin's N3 node is fully booked and CoWoS capacity expands nearly 50%. Nvidia's Kyber delay concerns appear limited to Rubin Ultra, leaving mainstream Rubin NVL72 deployments and near-term revenue expectations largely unchanged. Qualification of Samsung, SK hynix and Micron for HBM4 reduces supply-chain risk as the industry shifts toward higher-capacity 16-Hi HBM4 memory. Despite 82% projected FY2027 revenue growth, Nvidia's valuation compresses materially, while upstream capacity expansion suggests AI infrastructure investment remains in its early stages. I believe that the market is getting too focused on Nvidia's ( NVDA ) quarterly results execution and failing to acknowledge the most robust indication of its outlook. The most bullish signals are no longer coming from