Nvidia’s second-quarter earnings are spurring a rally in its stock price. But the company’s earnings call on Wednesday also underscored the financial entanglements between the chipmaker, the hyperscalers and the rest of the AI industry.

I speak with David Wagner, head of equities at Aptus Capital Advisors and an Nvidia bull, to get his view on why fears of “circular financing” are overblown.

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I speak with David Wagner, head of equities at Aptus Capital Advisors and an Nvidia bull, to get his view on why fears of “circular financing” are overblown.

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