A short chart but a strong one. This index is cap-weighted, has 34 constituents led by Nvidia, and is blazing higher. Is it suddenly going to top out? Anything is possible but it looks most unlikely. This is not one stock on a roll (not entirely, anyhow) but a whole sector bursting with vigour.
Data centres were built for the world of the cloud, for storing and retrieving information. The world we are moving to is vastly more ambitious and requires a wholesale reinvention of the world's computing infrastructure, which has barely begun.
