$NVDA

Does he own it?

He explicitly states he does NOT own it: in a portfolio-style ETF post he says he owns many listed names personally but specifically not NVDA. He repeatedly contrasts his supply-chain gains against merely holding NVDA, calling it the crowded "shovel seller" he avoids in favor of upstream bottlenecks. No first-person buy/add/size statement appears.

His thesis

NVDA is the central reference point of his whole framework: he treats it as the AI buildout's leader whose roadmap (HBM, CoWoS, photonics/CPO, 800V DC) telegraphs the next bottleneck. Rather than buy NVDA, he front-runs its suppliers, arguing the real alpha is in upstream chokepoints (lasers, substrates, foundries, memory) that NVDA's spending and capacity grabs make scarce. He is structurally bullish on NVDA-driven demand but views the stock itself as a lower-return, crowded mega-cap.

How his view evolved

Consistent throughout. NVDA stays the anchor signal; over time his focus sharpens from memory/materials toward NVDA-led photonics/CPO and 800V DC, repeatedly using NVDA's investments and GTC events to time positions in suppliers, never in NVDA itself.

Key points

• Uses NVDA as the demand signal to front-run upstream suppliers, not as a holding
• Explicitly says he does not own NVDA in a portfolio/ETF post
• Frames NVDA as the crowded mega-cap with lower returns than his bottleneck picks

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $NVDA on X ↗