Thank you,
There is little difference in which market one trades an interlisted security on. Arbitrage ensures currency-adjusted prices are very similar. CLS does not pay a dividend so the currency of any dividend does not even make a diffference here. It is very hard for us to compare a $24B company with a $3 trillion company. The two will have some of the same influences, with data centre growth the main driver. CLS is cheaper than NVDA on valuation, and outperformed it last year and this year (by a wide margin). But CLS does not have the market share dominance that NVDA does, nor the same degree of cash flow ($540M vs $58B), nor the same degree of proprietary products. CLS needs to be considered riskier, and is more of a manufacturer for others as opposed to an IP company inventing the next big thing like NVDA has been. We would rather own both than go all-in on CLS.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in NVDA.