BlockBeats News, November 21st, Financial market independent researcher Perera (Shanaka Anslem Perera) wrote that yesterday, an unprecedented upheaval occurred. Nvidia's stock price surged 5% after the financial report was released, but plummeted into negative territory within 18 hours. Wall Street algorithms captured a significant anomaly unnoticed by humans: there was a severe discrepancy in the financial data. The specific findings are as follows:Nvidia's accounts receivable surged by 89% to $33.4 billion in one year, the payment cycle extended from 46 days to 53 days, and chip inventory skyrocketed by 32% to $19.8 billion. A $19.3 billion profit only converted into $14.5 billion of cash flow, a conversion rate of 75%, far below the industry average of 95%, with a $4.8 billion gap reaching a crisis level.AI ecosystem fund loop exposed: Nvidia injected $2 billion into xAI, xAI borrowed $12.5 billion to buy back Nvidia chips; Microsoft invested $13 billion in OpenAI, OpenAI committed to buy $50 billion of Azure, Microsoft then placed a $100 billion order with Nvidia; Oracle provided $30 billion in cloud credits to OpenAI, OpenAI then bought Nvidia chips for Oracle. The same money was repeatedly counted as revenue, but the cash never actually materialized.Smart money has fled: Peter Thiel sold $100 million of Nvidia stock on November 9th, SoftBank liquidated its $5.8 billion stake on November 11th, Michael Burry bought Nvidia March 2026 $140 put options. Bitcoin dropped from $126,000 to $86,000, analysts warn that if Nvidia falls another 40%, a $23 billion Bitcoin forced liquidation will be triggered, causing a crypto market avalanche.The timeline is set: Bad debt exposed in the February 2026 financial report, credit rating downgrade in March, initial financial restatement in April. Nvidia's fair value is $71, current price $186, overvalued by 162%. The 90-day countdown to the AI bubble burst has begun.Overall, Perera is cautious about central bank intervention, geopolitical friction, and tech concentration risk. He advises investors to shift towards assets that are primarily driven by "thermodynamics and game theory" rather than nostalgic central bank reliance.

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