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Summary

Parkev analyzes the impact of SpaceX's first-ever conference call, where Elon Musk committed to building AI services exclusively on Nvidia's Vera Rubin architecture. Parkev notes that SpaceX aims to expand its computing capacity from 1.44 gigawatts to 10 gigawatts by the end of next year, representing a massive acceleration in capital expenditure that will directly benefit Nvidia. Parkev points out that SpaceX has already spent $23.5 billion on AI capex in the first half of 2026 and expects this trend to continue as SpaceX seeks to catch up with competitors like OpenAI and Google.

Parkev highlights the following stock insights:

Nvidia (NVDA): Parkev maintains a strong bullish stance, noting it is the largest position in Parkev's portfolio. Parkev calculates a fair value of $300 per share and argues that at $221, the stock is significantly undervalued with a forward P/E of 17.2. Parkev believes that while competition from AMD and Alphabet exists, Nvidia's best-in-class technology remains the preferred choice for major AI buildouts.

AMD: Parkev uses AMD as a valuation comparison, noting that it currently trades at more than twice the valuation of Nvidia. Parkev suggests that Nvidia's lower valuation relative to AMD makes Nvidia a more attractive investment opportunity. Parkev acknowledges AMD as a provider of more affordable value options, but emphasizes it lacks Nvidia's best-in-class performance.

SpaceX (Private/Public context): Parkev discusses SpaceX's role as a major customer for Nvidia, fueled by an IPO that Parkev describes as the most popular in history. Parkev expects SpaceX to aggressively raise capital to fund its 10-gigawatt compute goal. Parkev notes that SpaceX's drive to improve its AI chatbot, Grok, necessitates high-end Nvidia hardware to remain competitive.

Mentioned Stocks

NVDA

Sentiment: BUYAction: RECOMMENDED

Reasoning: Parkev reiterates a buy rating for Nvidia, citing a fair value price target of $300 per share. Parkev notes that the stock is currently trading at a forward price-to-earnings ratio of 17.2, which Parkev considers near the cheapest the stock has been in years. Parkev identifies Elon Musk's commitment to use Nvidia exclusively for SpaceX's massive 10-gigawatt compute expansion as a powerful catalyst for future revenue growth.

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