Former Fidelity fund manager claims Nvidia is repeating Cisco's mistakes

Former Fidelity investment fund manager George Noble warned on social media on Thursday that Nvidia is heading down a path similar to the collapse of the internet bubble by supporting customers who purchase its artificial intelligence hardware.

Noble pointed out that Nvidia currently has a weight of about 8% in the S&P 500 index, which is twice the weight that Cisco held at the peak of the internet bubble in 2000. He believes that this semiconductor giant is repeating the same mistakes and falling into the exact trap that severely impacted Cisco over twenty years ago.