The Nvidia underpricing argument

A lot of investors argue that $NVDA is overpriced.
The opposite question is becoming more interesting: what if it is still underpriced?
If compute demand scales by orders of magnitude over the next 24 to 36 months, every step higher could unlock new AI capabilities.
That would mean today’s chips, data centers, and power contracts are not just expensive infrastructure.
They may be the foundation for a much larger intelligence economy.
The bullish case for $NVDA is not just that AI demand remains strong.
It is that the market may still be underestimating how much compute the next generation of models will consume.