Jason Hall

The stock's gone up almost six-fold along with it.

Now, how can it sustain that while still being true to Enzo Ferrari's famous line, supplying the market with exactly one less Ferrari than it demands?

It's simple, it's growth in that market.

If we go back to 2000, there were less than 500 billionaires in the world.

Today, there are more than 3,000.

There's close to 70,000 people worth more than $200 million.

That's about a seven-fold increase over the past quarter century.

What does that mean for Ferrari?

We know the growth of the world's global wealthy is continuing.

Ferrari is in this extraordinary position that it can continue to raise prices and therefore its margins and build a few more cars.

and still remain a rare, extremely desirable brand that people will pay whatever Ferrari asks to add that latest model to their collection.

You don't order it.

They tell you that you can order it.

This can be both, investing in the company and propping it up.

I'll talk about that why, but before I get to it, I just want to point out that it's important as individual investors, we shouldn't conflate our

goals and incentives with Nvidia's incentive to either invest in or prop up CoreWeave, whichever it proves to be down the road.

Two things can be true.

If AI expansion and proliferation does continue to happen,

to be a need for this infrastructure.

The build-out is going to need to continue.