Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.Nvidia CEO Jensen Huang sold 75,000 shares on Friday, valued at about $12.94 million, according to a filing with the U.S. Securities and Exchange Commission. Friday's sale is part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Earlier this week, Huang sold 225,000 shares of the chipmaker, totaling about $37 million, according to a se ...

Core Viewpoint - Nvidia has experienced a dramatic recovery, regaining its position as the most valuable company in the world with a market cap exceeding $4 trillion after losing over $1 trillion earlier this year due to investor concerns about long-term growth prospects [3]. Group 1: Market Performance and Valuation - Nvidia's market cap dropped significantly earlier in the year, leading to panic selling among investors [3]. - Analysts on Wall Street are projecting substantial upside for Nvidia, with some estimates suggesting a potential market cap of $10 trillion by 2030, indicating a 140% increase from current levels [5]. - Another analyst predicts an even more optimistic scenario, suggesting Nvidia's share price could reach $800, resulting in a $20 trillion market cap by 2030 [10]. Group 2: Growth Catalysts - A projected $260 billion will be spent on AI infrastructure in 2025, with significant capital expenditures from major tech companies like Meta Platforms and Oracle, which will drive demand for Nvidia's chips [6]. - Nvidia's competitive position is bolstered by its software architecture, CUDA, which creates customer stickiness and positions the company at the forefront of advanced AI applications [8]. - Analysts believe that competition from Intel and AMD is not a significant threat to Nvidia's market dominance, as evidenced by Nvidia's increasing market share in the AI accelerator industry [7]. Group 3: Long-term Opportunities - Nvidia has opportunities beyond chip sales, with potential growth in areas such as Web3 development and government efficiency through AI applications [10][14]. - The company's rising forward price-to-earnings (P/E) multiple indicates a valuation expansion, although it remains below earlier levels this year [12]. - Analysts emphasize that Nvidia's long-term growth foundation is strong, with many opportunities yet to contribute meaningfully to the business [14].

Core Viewpoint - Nvidia's stock remains above $170, presenting potential buying opportunities for investors who missed the recent rally to an all-time high [1][2]. Short-term Strategy - The current share price of Nvidia is $172.41, reflecting a slight decline of 0.34% for the day, with a year-to-date gain of 24% [2]. - ChatGPT suggests that Nvidia appears overextended in the short term, with technical indicators indicating overbought conditions [5]. - A more favorable entry point for short-term traders would be during a pullback to the $160 to $168 range, where historical buying interest has been noted [6]. Medium-term Strategy - For medium-term traders, particularly those looking towards Nvidia's earnings on August 27, it is advised to accumulate shares during any 5% to 10% dip [7]. - The stock typically rallies into earnings, especially with strong AI sentiment, and increased data center spending from major tech companies could enhance demand [7]. Long-term Strategy - Long-term investors are recommended to initiate a partial position of 25% to 33% at current levels, with plans to add during dips of 5% to 10%, ideally between $155 and $165 [9]. - The strategy emphasizes a risk-adjusted entry point, considering Nvidia's long-term dominance in the AI sector [10]. Market Considerations - Nvidia's exposure to the Chinese market remains uncertain, with potential shifts in U.S. export policies being a significant factor [8]. - Investors are advised to buy on pullbacks influenced by geopolitical news rather than chasing price spikes driven by news [8].

从台积电上修指引：看 AI 算力需求趋势 20250718 摘要 台积电 2025 年第二季度财报超出预期，美元计价收入同比增长 17.8% 至 300.7 亿美元，毛利率达 58.6%，主要受益于 N3 制程平台放量和 N7 节点稼动率提升。未来业绩可能继续上修，因先进制程供不应求及潜 在涨价空间。 英伟达芯片的良率和新系列系统稳定性是影响 AI 算力需求的关键因素， 在供不应求的情况下，这些因素可能导致英伟达利润率提升，进而影响 整体市场规模。研究 AI 算力市场应聚焦大模型和应用变化，而非仅跟踪 产量数据。 台积电 N5 节点需求紧张，推动 N7 产能转移，提升了第二季度毛利率。 公司上调 2025 年全年收入指引至 30%，资本开支预期维持在 380 亿 至 420 亿美元。第三季度营收指引为 318 亿至 330 亿美元，毛利率维 持在 55.5%至 57.5%区间。 台积电预计第三季度毛利率受海外建厂进度加速和新台币升值影响，但 产品结构优化和先进制程提价可部分抵消负面影响。非 AI 领域市场需求 持续好转，工业及汽车领域逐步修复，而 AI 领域数据中心及 AI 加速器 需求持续旺盛。 Q&A 2 ...

Group 1 - Large-cap growth stocks continue to outperform the broader market, with significant drawdowns observed in recent years [1] - Investors remain optimistic about large-cap growth, particularly highlighting NVIDIA as a leading stock in this category [1] Group 2 - Active mutual funds are showing interest in large-cap growth stocks, indicating a bullish sentiment among investors [1]

Nvidia (NVDA -0.42%) is a clear leader in the artificial intelligence (AI) race. Its graphics processing units (GPUs) powered AI model training and processing since the start, and Nvidia has continued to release innovative products to maintain its position. However, traditional computing is just one way to train AI; another approach that could gain popularity soon is quantum computing.While Nvidia hasn't fully committed to quantum computing, it is ensuring its support through various efforts that could enab ...

行业报告 | 行业研究周报 通信 证券研究报告 OpenAI 发布 ChatGPT 智能体，商务部部长会见英伟达 CEO 据商务部网站消息，7 月 17 日商务部部长王文涛会见美国英伟达公司总裁兼首席 执行官黄仁勋。王文涛表示，中国吸引外资政策不会变，开放的大门只会越开越 大。中国市场规模巨大，应用场景丰富，创新创造充满活力，希望包括英伟达在内 的跨国公司为中国客户提供优质可靠的产品和服务。黄仁勋表示，中国市场非常有 吸引力，英伟达愿同中国合作伙伴在人工智能领域深化合作。 本周投资观点： 本周行业动态： OpenAI 发布 ChatGPT 智能体 近日 OpenAI 宣布将在 ChatGPT 中推出一款通用型 AI 智能体，该公司表示该智能 体可以帮助用户完成各种基于计算机的任务。该工具名为 ChatGPT agent，结合了 OpenAI 之前多种智能体工具的功能，包括 Operator 点击网站的能力，以及 Deep Research 从数十个网站中综合信息生成简洁研究报告的能力。OpenAI 表示用户只 需通过自然语言提示 ChatGPT 即可与该智能体进行交互。 商务部部长王文涛会见英伟达 CEO 黄 ...

文/UNFX宏观 日期：2025年7月19日 本周，华尔街在一片乐观情绪中再次刷新纪录，标准普尔500指数（S&P 500）创下历史新 高，延续了近一个月来的强劲上涨势头。尽管周五收盘时略有回落，但市场整体的积极基调 并未改变。 此轮上涨的核心驱动力来自于强劲的经济数据以及以科技股为主导的亮眼企业 财报。 经济基本面提供坚实支撑 美股再创历史新高，经济数据与科技股引领市场乐观情绪 1. 美联储主席鲍威尔的讲话： 市场参与者将密切关注美联储主席杰罗姆·鲍威尔在一场银行业会议上 的露面，试图从中寻 找有关未来货币政策路径的任何蛛丝马迹。 2. 关键经济数据： 美国成屋销售数据和标普全球采购经理人指数（PMI）初值将是为数不多的重要 数据，它们将为市场提 供对经济健康状况的进一步确认。 3. 欧洲央行（ECB）利率决议： 大西洋彼岸，欧洲央行将召开议息会议，其利率决定和政策声明将 对全球资本流动和汇率产生重要影响。 4. 总体而言，尽管市场在创下新高后可能面临一定的短期回调压力，但稳健的经济基本面和强劲的 企业盈利为股市提供了有 力支撑。下周，央行的声音将成为指引市场方向的关键。 科技股与加密货币市场表现抢眼 在板 ...

近日，在北京举办的第三届链博会上，英伟达创始人兼CEO黄仁勋与阿里云创始人、现任之江实验室主 任王坚展开对话。 《中国经营报》记者在现场看到，黄仁勋身着标志性皮衣，而王坚穿着程序员标志性的格子衬衫。在谈 及未来芯片发展时，黄仁勋表示，下一代芯片将是复合型芯片，可能有桌子那么大。 在对话中，王坚提到："我们今天知道人工智能非常基于硅的科技发展，我们运用硅来提升算力，比如 说增加储存内存，这全都基于我们对硅的研究。在接下来的十年二十年，我们还需要依赖硅来推动人工 智能发展吗？" 黄仁勋给予了肯定的答复："是的，硅科技为我们带来了很多的技术内容，我们会在这个方面继续发 展。" 黄仁勋认为，未来芯片将有转变："未来我们会运用不同的方式来进行计算，我们不再用原来的方式把 算力分解到不同的芯片上面。从当前单芯片架构，我们将转向多芯片复合系统。" 这一组芯片可以实现更高阶的功能，黄仁勋表示，英伟达是第一个运用这个技术的公司，复合型芯片会 有不同的形态，或许它会像桌子这么大。"我们将运用一个更新的技术，我们叫它CPO，可以将不同维 度的信息进行连接。" 王坚对此评价："这个科技真的是太先进了。" 黄仁勋形容："我们有很多的工 ...

The market has returned to its highs, along with many top artificial intelligence (AI) names. However, another market dip could always be around the corner.Let's look at three top AI stocks that have made strong runs that would be good buys on a pullback. 1. PalantirWith a high valuation but attractive growth opportunities, Palantir Technologies (PLTR -0.34%) is a stock that would be attractive on a dip. The company has emerged as one of the market's most compelling AI growth stories, and its momentum has b ...