NVDA is up big on AI but LNG is the trade nobody's talking about

Everyone is obsessed with the AI chip race. NVDA is up, and there's a compelling story. However, people are forgetting that Microsoft, Google, and Amazon are all building their own chips to cut out Nvidia. Confirmed. Cheniere Energy ($LNG) just reported 670 cargo deliveries in 2025 — a record. A beat on EBITDA. The thesis: Nobody is building their own natural gas. NVDA Risk Profile: Hyperscaler revenue concentration (Microsoft, Google, Amazon = ~40% of revenue) Those companies are building their own chips P/E is north of 35x on already elevated margins Priced for perfection in a fast-moving space LNG Risk Profile: Offtakе contracts for 20 years Europe cannot get enough natural gas from the US, post-Ukraine Exceptional visibility into EBITDA Trading at a discount to its DCF NVDA is not a bad company. In fact, it's an incredible company. However, one has to wonder if people are paying a huge premium for this stock given the execution risk. LNG may not be the most sexy sector in the market today. However, it is printing money and beating estimates, and nobody is building a chip to replace it. Positions: Long $LNG. No position in NVDA. submitted by /u/arrremayu [link] [comments]