Nvidia Shares Stagnate Despite Big Tech's AI Spending Boom

• Nvidia shares have been largely stagnant for months, up less than 1% since Q4, despite record high in late October.
• Big Tech companies like Meta, Alphabet, Microsoft, and Amazon plan to spend over $600 billion on AI infrastructure in 2026.
• Growing concern exists that AI revenue may not keep pace with the announced capital expenditure, leading to market satiation.
• Nvidia's valuation has compressed as revenue growth is projected to slow to 58% in current year and 28% in 2027.
• Investors await Nvidia's earnings report on Feb. 25 for guidance and demand insights, especially for hyperscaler spending.