SITUATION EXPLAINED: Epoch found an Nvidia-sized hole in US GDP statistics. • GDP growth has been understated by 0.3 percentage points over the last year, against total annual growth of about 2 • Nvidia designs chips in the US and sends the files to TSMC. The chips never touch US soil until they arrive inside imported servers • US design adds roughly $30K of value per chip, but the servers enter as a full import with no export ever recorded, so the design work vanishes from GDP • Epoch checked…