Seasoned Wall Street investor Ed Yardeni, founder and CEO of Yardeni Research, has boldly rebranded the Magnificent Seven giants as the “Magnificent One,” referring only to Nvidia Corp. (NASDAQ:NVDA) as the key driver of this year’s market gains. Yardeni noted that the semiconductor giant has rallied by 115% year-to-date, more than three times as much as Meta Platforms Inc. (NASDAQ:META) – the top performer among the “Magnificent Six” – and more than 10 times as much as the broader S&P 500 index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY). “Nvidia is the only clear beneficiary of the AI boom currently because everyone who wants to play has to pay for the company’s expensive GPU chips,” Yardeni said. However, he cautioned that the heavy capital expenditures could affect the profitability of Nvidia’s clients, who ...