If they had to compete in a free market, they would just die.
Assuming that doesn't happen, but that the State's capacity for subsidies declines, I would expect Nvidia (and other "strategic" or highly-regulated stocks) to get clobbered.
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This is like halfway to a free market though
The authorities would still prop them up by taxing competitors more, stopping people from building factories without "IP" licenses, etc.
Just no more free printed money / drawing whatever lines you want on the share price chart
Yup