Nvidia issues memo rebutting critics sceptical of its valuation

Nvidia, the world’s most valuable company, has gone on the defensive against sceptics of its US$4.5 trillion (S$5.8 trillion) valuation, down from a historic US$5 trillion, by waging an information campaign on Wall Street and social media.

- 

Last week, the company issued a detailed memo to sell-side stock analysts with a point-by-point rebuttal of claims made by Mr Michael Burry, who was featured in the book and movie The Big Short, and others writing on Substack.

Mr Burry, who shot to fame for betting against the US housing market ahead of the 2008 financial crisis, is widely watched by investors for his comments on markets and the economy; he has stepped up criticism of Nvidia in recent weeks in a new newsletter.