NVDA and SMCI are actually relatively cheap relative to the current earnings and earnings growth. The question comes down to how much do you believe they will continue to grow before competition comes and compresses margins. NVDA seems highly confident in their demand over the rest of the year, I think it will hit near $1000 before it may come down (if competition comes soon).
Mentioning Dojo is a joke. There is no volume production of Dojo yet, who knows when that will happen. Based on Musk's latest comments, it doesn't sound that bullish on it this year. It will have no effect on NVDA.
Meanwhile TSLA is stuck in the doldrums. No earnings growth, and no real big boosts for earnings this year unless Cybertruck can ramp to 5,000 a week. I sold all my calls when it came back up to near $200 on Wednesday and luckily bought an actually winning stock - NVDA.
I'll buy back into TSLA if/when it goes down to $150.