Overview
- Nvidia is positioned as a primary play on AI infrastructure, with GPUs powering AI workloads and a networking stack offering end-to-end data center solutions.
- The coverage notes rising AI ASIC competition but argues Nvidia retains advantages through its CUDA software ecosystem and NVLink interconnect.
- Amazon shows improving operating leverage in retail, with North America operating income up 28% year over year on an 11% revenue gain last quarter.
- AWS is expanding AI capacity, ramping Project Rainier for Anthropic and, per the report, agreeing to a seven-year, $38 billion compute deal with OpenAI using Nvidia GPUs.
- Dutch Bros is presented as a consumer growth franchise with a long expansion runway and same-store sales drivers, with the piece framing these stocks as suitable for small, discretionary starter allocations.