Nvidia Is Now Paying to Train Plumbers, and the Stock That Should Benefit Most Just Hit a 52-Week Low
Nvidia Is Now Paying to Train Plumbers, and the Stock That Should Benefit Most Just Hit a 52-Week Low
Jeremy PhillipsThu, September 3, 2026 at 11:09 PM UTC
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Shutterstock / Piotr SwatQuick Read -
NVIDIA joined the Lowe's Foundation coalition to train 1 million tradespeople by 2030, and this happened on the same day LOW hit a 52-week low, down 21% year over year.
AVGO AI semiconductor revenue surged 221% year over year, with Hock Tan citing land, power, and construction bottlenecks identical to those limiting NVDA's data center expansion.
Stephen DeNichilo called the skilled trades surge a generational investment opportunity, with plumbers and HVAC workers already reporting more work than they can handle.
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On September 1, 2026, the Lowe's Foundation announced what it called the nation's largest skilled trades coalition, with NVIDIA (NASDAQ:NVDA), AT&T, Bank of America, Carrier, General Motors, DEWALT and Duke Energy signing on to train 1 million skilled trades workers by 2030. That same day, Lowe's (NYSE:LOW) stock hit a 52-week low.
Read that again. The chipmaker at the center of the AI data center buildout is paying to train plumbers and electricians, because there are not enough of them to wire, cool and plumb the buildings that will house its GPUs. The retailer that sells to those same tradespeople just printed a 52-week low.
Why NVIDIA Cares About Plumbers
On the fiscal Q2 2027 call, Jensen Huang stepped away from silicon and onto the job site:
"All of the labor that's necessary. AI infrastructure is creating so many jobs all over the United States and all around the world."
NVIDIA just posted $96.22 billion in Q2 revenue, up 105.8% year over year, with data center revenue at $89.02 billion. Huang told analysts "you've got to go secure the land power and shell, which oftentimes is a couple, two, three years out." No trades, no factories. No factories, no tokens.
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Trades Boom Is Already Here
Federated Hermes senior portfolio manager Stephen DeNichilo went on CNBC the next evening and confirmed it: "if you're a plumber, if you're a hvac guy, you're busy right now. You don't have enough work out there. And so you don't have enough time for all the work you have out there."
He called the moment "a generational opportunity for investment in the us", and noted the Federal Reserve's Beige Book found "data centers were driving a lot of the economic activity." Lowe's CEO Marvin Ellison put a number on the stakes on CNBC, warning the shortage could create a $1 trillion economic loss for the U.S.
Lowe's Stock Says Otherwise
And yet. Lowe's closed at $199.84 on September 2, 2026, down 21% over one year and down 16% year to date. The Pro customer Lowe's has spent years courting is the same tradesperson NVIDIA is now paying to train.
I've owned NVIDIA for over 15 years, and the through-line of every earnings call is the same: demand exceeds supply, and supply is capped by physical constraints. Broadcom (NASDAQ:AVGO) told the same story this week. AI semiconductor revenue hit $16.70 billion, up 221% year over year, and Hock Tan flagged land, power and shell construction as gating constraints. Same bottleneck, different logo, and it's why the power, cooling and networking suppliers behind the buildout keep showing up in our free AI infrastructure report.
What to Watch
Buy Lowe's if you believe the Pro backlog eventually shows up in same-store sales. Avoid it if you think a soft housing cycle drowns out the data center tailwind first. NVIDIA is paying to train the plumbers. The market is pricing the plumbers' supplier at a 52-week low. One of those signals is wrong.
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