Part 9/13:
A significant part of Murphy’s discussion focuses on Nvidia. The chipmaker has been aggressively deploying its cash, engaging in approximately 51 deals totaling around $112 billion this year alone—from the $100 billion commitment to OpenAI being the most prominent. Nvidia’s strategy involves not only supplying chips but actively investing in or financing its customers—AI enterprises and data centers—to lock in market share and create high switching costs.