Nvidia’s massive future spending commitments ‘make the company’s risk profile more complex,’ Saxo says

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Good morning. On Fortune’s radar today:

  • Nvidia’s $366 billion asterisk.
  • Markets: Holding pattern.
  • Warsh speaks today—but will he say anything?
  • Target vs. Walmart: The most misleading chart in stocks.
  • Gap CEO Richard Dickson on where the chain went wrong: “Somewhere along the way, we lost the story and became more about the stuff.”
  • Europe’s vibe shift.
  • Kevin O’Leary (net worth $400 million) pays only $29 for his jeans.

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