Former Fidelity Investments Fund Manager George Noble warned on Thursday that Nvidia is moving towards a path similar to the bursting of an internet bubble by “supporting” customers who buy its artificial intelligence hardware. Noble pointed out in a social media post that Nvidia's current weight in the S&P 500 index is about 8%, which is double the weight of Cisco during the peak of the Internet bubble in 2000. He believes that the semiconductor giant is repeating its mistakes and falling into the “exact same” trap that devastated Cisco more than 20 years ago.

Former Fidelity Investments Fund Manager George Noble warned on Thursday that Nvidia is moving towards a path similar to the bursting of an internet bubble by “supporting” customers who buy its artificial intelligence hardware. Noble pointed out in a social media post that Nvidia's current weight in the S&P 500 index is about 8%, which is double the weight of Cisco during the peak of the Internet bubble in 2000. He believes that the semiconductor giant is repeating its mistakes and falling into the “exact same” trap that devastated Cisco more than 20 years ago.