BitMine Chairman Tom Lee stated on CNBC that Nvidia's strong performance has driven up its stock price, and investors value the company's fundamentals. Software stocks such as Salesforce, CrowdStrike, and Okta have strengthened, reflecting market response to downstream AI transactions. For Meta, Amazon Alphabet、AMD、 AI related stocks such as Micron have shown weak performance, and Tom Lee believes that investors are selling other technology stocks to increase their holdings in Nvidia. Nvidia's profit expectations have been raised, with a shrinking P/E ratio and a lower current valuation. The construction of data centers has become a political issue in the midterm elections in the United States, and some states are considering suspending related projects, leading to a shift in funding towards AI downstream targets.
