Gerstner notes Nvidia at $195 trades lower than six months ago at 13-14x earnings.
“At a $195, Nvidia is trading lower than it was six months ago. So it's hard to say at 13 or 14 times”
Gerstner asserts Nvidia is terribly under-owned and undervalued, and Altimeter is happy to hold it.
“I think NVIDIA is terribly, under owned. I think it's terribly, undervalued today, and so we're happy to sit in that and to own it.”
Gerstner says over a thousand billion-dollar-plus companies in Silicon Valley are trying to raise capital and will face significant washout.
“There are over a thousand of those in Silicon Valley, over a billion dollars that are trying to raise capital right now.”
Gerstner reveals Meta was trading at 6x fully taxed earnings at the start of 2023.
“Meta was trading at six times fully taxed earnings, right? And so unless you were doing the work”
Gerstner cites Wiz raising at $10B valuation with $200M ARR as evidence of late-stage market activity.
“I just read Wiz raised more money. It's got $200,000,000 ARR raised at 10,000,000,000. So those markets are definitely”
Gerstner nearly invested in Zoom pre-IPO at $5 billion valuation, emphasizing need for disciplined frameworks.
“We were within probably a 100 or $200,000,000 of doing a meaningful pre IPO round in Zoom. The company was valued at around $5,000,000,000 compared to where it is two years later.”
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