英伟达，重大启动

Core Insights - Nvidia is hosting the GTC conference from March 17 to 21, focusing on advancements in AI and accelerated computing technology, with CEO Jensen Huang expected to boost investor confidence during his keynote speech [1] Group 1: Chip Innovations - Nvidia is anticipated to unveil the latest Blackwell Ultra chips at the GTC conference, which are designed for high-performance AI model training and inference, featuring higher compute density and energy efficiency [2] - The Blackwell chip, launched last year, consists of 208 billion transistors and boasts a training speed four times that of the H100, indicating significant computational capabilities [2] - The upcoming Rubin platform is expected to utilize TSMC's N3 process and include 8 HBM4 cubes, totaling 384GB, which is a 33% increase over Blackwell Ultra [2][3] Group 2: Market Focus and Revenue - Nvidia is organizing a "China AI Day" during the GTC conference, featuring participation from major Chinese tech companies, highlighting advancements in large language models and AI applications across various sectors [4] - Despite export restrictions, Nvidia's revenue from the Chinese market is projected to remain stable, approximately half of pre-export control levels, with expectations of sequential growth [4] Group 3: Stock Performance and Market Sentiment - Nvidia's stock has seen a decline of 9.39% since reaching a high of $153 earlier this year, with investors hoping the GTC conference will catalyze a rebound [6] - Deutsche Bank maintains a "hold" rating on Nvidia with a target price of $145, emphasizing the data center segment, which contributes around 90% of total revenue [7] - Market sentiment towards AI remains cautious, with concerns about potential peaks in data center AI spending and competition between GPUs and ASICs, although the GTC conference is expected to help revive positive sentiment [8]