Nvidia(US:NVDA) Sou Hu Cai Jing·2025-09-26 10:27Core Insights - Nvidia has emerged as a prominent player in the global market, with significant investments in AI and partnerships with major companies like Intel and Alibaba, showcasing its strategic shift from merely providing tools to becoming a core player in the AI ecosystem [2][3]. Investment Strategy - Nvidia's investment approach has evolved from supporting startups that utilize its GPU technology to making substantial investments in leading AI companies, indicating a shift towards a more aggressive investment strategy [3][4]. - The company has invested in top AI startups, including Cohere, Inflection AI, and Mistral AI, reflecting a rapid and extensive investment strategy that surpasses previous ecological development efforts [3][4]. Business Model Transformation - Nvidia is transitioning from a hardware supplier to a deeply integrated partner within the AI landscape, collaborating with major cloud service providers while also offering its own cloud services [4][5]. - The company aims to replicate the success of its CUDA platform by encouraging users to subscribe to its services and software, moving beyond just hardware sales to a comprehensive "hardware + software + services" solution [5][6]. Competitive Landscape - Nvidia faces potential threats from major cloud providers like Google and Amazon, who are both its largest customers and potential competitors due to their capabilities to develop in-house chips [6]. - To mitigate this risk, Nvidia is enhancing its relationships with clients by embedding itself into their operations, making it more challenging for them to switch to alternative chip suppliers [6][7].