1. Despite a 21.8% stock decline, the author maintains a BUY rating on NVDA due to strong AI capex spending and superior Blackwell chip efficiency. 2. The DeepSeek saga has not reduced AI spending; Blackwell remains crucial for advanced AI models, outperforming Hopper in efficiency and capability. 3. Investor sentiment is disconnected from management's evidence-backed optimism; NVDA's leadership in AI remains strong, with significant upside potential from current levels.