What Happens to Nvidia If TSMC’s Lights Go Out?
What is the market actually pricing when it looks at Nvidia right now — the Rubin cycle, or the risk that the infrastructure beneath it cracks before the product ships? As of late March 2026, Nvidia closed at $168, down 21% from its three-month high of $212. The Nasdaq Composite is sitting at 20,948, off more than 2,600 points from its February peak. WTI Crude settled at $100, a near-doubling from its three-month low of $56. And for the first time in 13 years, Nvidia is trading at a forward P/E discount to the broader S&P 500. That last number is the one worth sitting with. A company that has … Read more