161 …AI Monetization…Chips = NVIDIA Revenue +28x Over Ten Years…Big Six CapEx + R&D +6x *Note: Big Six USA technology companies include Apple, Nvidia, Microsoft, Alphabet / Google, Amazon, & Meta Platforms / Facebook. Includes CapEx for Amazon AWS + Retail as R&D expense is not regularly separated for those two business divisions. Source: Companies’ investor reports, Capital IQ (4/25) Big Six R&D + CapEx Spend, $B (Blue Bar) NVIDIA Revenue, $B (Red Line) $0 $30 $60 $90 $120 $150 $0 $100 $200 $300 $400 $500 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 AI Monetization = Chips Big Six* USA Public Technology Company R&D + CapEx Spend ($B) vs. NVIDIA Revenue ($B) – 2014-2024, per Capital IQ