Nvidia's stock falls to pre-AI-boom levels as the compute market it built turns on it

Nvidia is a victim of the compute marketplace it created

Nvidia's stock dropped 15% from its May peak, now cheaper than the S&P 500 average on a forward earnings basis. Money is still pouring into AI infra, but mostly into memory companies — Micron nearly tripled over the same period. The GPU shortage has eased; memory is now the data center bottleneck. The post cites Bloomberg for details but doesn't include revenue figures itself.

Why it matters: Counterintuitive narrative with concrete numbers hits all three HKR axes. But it's market analysis, not a product/research breakthrough — caps at lower featured band. The post doesn't specify the exact time window for Micron's 3x market cap jump.