Most people in the world are not American. We have differing retirement plans and invest in local markets, or all sorts of international markets. The NASDAQ is one of many.
Most people reading this will indeed have zero investment in Nvidia.
"One of many"... Nasdaq & Nyse have capitalization equivalent to pretty much the rest of the world.
Most people reading this, if they have any money in any stock exchange, they are directly or indirectly exposed to Nvidia, whether they like it or not.
Absolutely, but capitalisation does not necessarily reflect the quantity of individual investors.
If you're talking about the indirect impact of foreign stock markets on a local markets... Sure, I guess. But that's hardly in the spirit here. Any large company in many countries has an impact on markets local markets when they sway, but rarely in any significant way.
The majority of people on HN are not impacted in any meaningful way by Nvidia's stock price and have no direct (brokerage, retirement fund, etc) investment in them.
The assessments in further up comments that give context here are that we all either invest in Nvida unknowingly or have our employment/compensation tied to them. I highly doubt this is true for the majority of HN users.
Nvidia is buyable by many international retirement plans, and/or affects international companies. It’s really hard to not be invested indirectly in them right now, even internationally unless your country has restrictions
tech is a large component of the overall economy though, so like it or not, we're all attached to this. I'm not a banker investing into mortgage-backed-securities either, but the 2008 GFC still affected me.
it really doesn’t matter, if nvidia pops hard it would almost certainly take the rest of the market with it, just on the basis of that being such a bearish leading signal on the market enthusiasm for AI. Nvidia popping would mean the AI party is over and a gut blow to the tech market as a whole.
this isn’t to say a down quarter that’s 25% down or whatever would be fatal. Obviously it’s going to have to correct a little at some point etc. Or if everyone else is obviously doing fine and it’s some nvidia-specific thing. But if Jensen got on the phone and said they were down 75% in next quarter orders on the basis of secular market trends and expected further cancellations, the tech market as a whole would probably crumple.
Most of the gpus nvidia sells aren’t DGX, they’re going into dell or HP or supermicro servers. Even the ones that aren’t officially partnered benefit from this ecosystem momentum etc. AI buildout has sold a lot of computers, a lot of memory, a lot of racks and networking and optics and electrical, etc.
As what is still functionally the only company making money on gpgpu sales right now, and with them functionally being near-100% datacenter and related (automotive etc) they are a massive leading signal on where the market is headed. The next best one is like… powercolor (TUL Corp).
(and nvidia conveniently does break it out anyway, but a lot of companies like AMD tend to submerge it in another group to deliberately make the revenue difficult to break out.)
