Can NVIDIA run it back? The stock is soaring this week after it already ran up 240% last year.

The debate around valuation, hype, and reality.

It's Friday, January 12th.

Welcome to the Tech Check Podcast.

I'm Deirdreboza with Mark Gilbert.

Happy Friday, Mark, week two of 2024.

Happy Friday, G.G.

GIF.

2024. Today, our story,

NVIDIA, another monster week. Tech is back after a poor start to the year.

That's what we talked about last week. Now, Invidia, leading the way quietly up, I think was 12% since a week ago?

I debated whether using that word quietly because, you know, we're always kind of talking

about Invidia, but it felt like, you know we're always kind of talking about invidia but it felt like you know after the end of last year up more than tripling right we kind of were like okay let's let's look ahead to the next year kind of do the same thing didn't have the greatest start to the year, but here we are again,

second week of January, and it's still the story. And it's kind of like this contrast in tone from the first week of the year when everything was kind of terrible in tech, right?

The Dow was hitting fresh all-time high, but the tech-heavy NASDAQ was the clear laggard.

And part of that was the air coming out of this NVIDIA story that has driven the market at large over the last year plus in the age of generative AI.

But some of the bare side of this story over the last few weeks export controls right

restricting China sales China is still a very important market for

NVIDIA reports that Chinese customers they didn't want that downgraded silicon that NVIDIA that

Chinese customers they didn't want that downgraded silicon that

Invidia was gonna serve them to get around those expert controls.

All of this still in the backdrop, but I love how B of A put it this morning. In just a few words,

...