英伟达淡出对外云服务 | 投研报告

Group 1 - The Shanghai Composite Index reached a new high this week, with the CSI 300 Index rising by 1.38% and the computer industry index increasing by 3.37%, outperforming the CSI 300 Index by 1.99 percentage points [1][2] - The TMT sector emerged as a major market hotspot this week [1][2] - Nvidia is stepping back from its cloud services role for external customers, which is seen as a strategy to "protect its moat and avoid distractions," solidifying its leading position in the GPU market but also indicating a sacrifice of some "upward integration" opportunities [1][2] Group 2 - Following Nvidia's withdrawal from cloud services, it will form a simple upstream-downstream relationship with domestic cloud providers, alleviating concerns about competition and allowing these providers to accelerate the development of domestic GPU ecosystems, benefiting the strategy of self-control [2] - The investment rating for the computer industry remains at "overweight," with electronic industry market share reaching new highs, although some traditional sectors are beginning to compete for market funds against the TMT sector [2] - Short-term strategies suggest continued optimism for the electronic industry (AI chips), cautious optimism for the communication industry (optical modules), and the computer industry (AI servers) [2]