AI狂潮的终极考验：全球市场屏息以待英伟达财报

Core Viewpoint - Nvidia's upcoming earnings report is not only a test of the company's performance but also a key indicator of whether the AI boom can continue to drive the US stock market higher [1] Group 1: Company Performance - Analysts expect Nvidia to achieve $46 billion in revenue for Q2, representing a 53% year-over-year growth, although this is lower than the previous quarter's 69% and the over 250% growth rate at the beginning of 2024 [1] - Nvidia's stock price has risen over 30% this year, making it the first publicly traded company to surpass a $4 trillion market capitalization [2] - Nvidia's valuation is approximately 40 times its expected earnings for the next year, significantly higher than the Nasdaq 100 index's valuation of about 28 times [5] Group 2: Market Sentiment - Nvidia's performance is viewed as a barometer for market confidence, with significant attention on its statements and results [4] - Concerns about high valuations and slowing growth are increasing, especially following a pessimistic report from MIT and comments from OpenAI's CEO, which led to declines in tech stocks [1][5] - The company's ability to navigate the Chinese AI chip market is a critical variable affecting its future guidance, with potential revenue increases from approved chip sales to China [6][7] Group 3: Client Investments - Major tech clients like Microsoft, Google, Meta, and Amazon are planning to invest heavily in AI infrastructure, with expected spending reaching $350 billion this year [8] - Nvidia's GPUs are widely used in training models for AI products like ChatGPT and Google's Gemini, providing strong support for Nvidia's performance in the coming quarters [8]