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I reckon 2026 could be a positively enormous year for Nvidia. A truly magnificent spectacle of profit. The question isn’t if it will zoom upwards, but how high. Some might be shocked at my prediction, but I assure you, this stock has a runway longer than a dragon’s tail.

They’re a PLM and CAD shop, which, let’s be honest, sounds like a medical condition. But they help companies design and build things. Lots of data involved. Which, of course, now everyone thinks AI is going to swoop in and take over. It’s always something. Always. Like we didn’t have enough things to worry about.

Just the other day, February 17th, 2026, to be precise, ORBIMED decided to lighten its load of Terns shares. They sold off a considerable heap – 5,409,671 shares, to be exact – amounting to around $125 million. That’s a sum that could buy a small country, or at least a very large collection of rocking chairs. They still hold a piece of the pie, mind you, some 2,153,300 shares, but they’ve trimmed the sails, so to speak. A wise move, perhaps, or a sign of things to come? That’s what we’re here to ponder.

The stock, you see, has been doing well. Better than most. Up about 15% this year, which in the grand scheme of things, is merely a blip. A pleasant blip, admittedly, but a blip nonetheless. The question isn’t whether Costco is running well. They’re good at that. Always have been. Like a well-oiled machine, churning out savings and oversized pretzels. No, the real question is whether all that goodness is already baked into the price. And that, my friends, is where things get tricky.

By the closing bell, the share price had rather smartly climbed, leaving one to suspect someone, somewhere, actually knows what they’re doing.

BYD, it appears, has surpassed even the celebrated Tesla in revenue – a feat akin to a provincial playwright outshining a West End production. Some 4.6 million vehicles bear the BYD emblem, a number that speaks of ambition, if not necessarily of lasting dominion. The stock, however, tells a different tale – a cautionary one, perhaps. It has suffered a decline of nearly 20% in the last twelve months, a circumstance that reminds us that even the most promising ventures are subject to the whims of the market. A 3% dip in recent quarterly sales merely confirms that fortune is a fickle mistress.

Now, Nvidia. The name itself sounds like something out of a particularly gloomy Eastern European fairytale. They make the… well, the bits that make the thinking happen. Graphics Processing Units, they call them. Fancy rocks that do sums very quickly. Meta is one of their biggest customers, naturally. It’s a bit like a dragon ordering a particularly large quantity of fire polish. But Meta isn’t entirely loyal. They dabble with Advanced Micro Devices – the AMD, as they’re known – and even attempt to forge their own magical components. A bit ambitious, perhaps. Like a goblin trying to build a cathedral.

The exposure of established financial institutions to these pure-play quantum enterprises is, upon closer inspection, remarkably limited. It is a peculiar phenomenon, this illusion of widespread institutional investment. One observes a surge in capital directed towards the sector, only to discover that the vast majority originates not from discerning hedge fund managers actively assessing long-term viability, but from the passive mechanisms of exchange-traded funds and index trackers. Thus, when one notes BlackRock’s reported ownership of a substantial shareholding in IonQ, it is a mistake to infer a considered endorsement. The transaction is merely a consequence of IonQ’s inclusion within the Russell 2000 index, a mechanical consequence of its size, not a judgment upon its prospects.