0926 ET - Morgan Stanley analysts buy Nvidia's claim that the company's chips offer the lowest cost-per-token on the market, despite competitors' claims that alternative chips have better token economics. Still, the analysts say comparisons with Blackwell chips remain important, as current AI investment levels won't be satisfied with Vera Rubin for several quarters. However, they say in a note they still believe "the Nvidia truism that lower cost silicon has not been proven to deliver lower cost per tokens, until proven otherwise, and that having the best in class capability is a considerable advantage for customers that want the longest useful life." (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

May 21, 2026 09:27 ET (13:27 GMT)

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