英伟达业绩大超预期！AI叙事或重启

Core Insights - Nvidia reported Q3 2025 revenue of $57.01 billion, exceeding market expectations of approximately $55 billion, marking a historical high with a quarter-over-quarter growth of 22% and a year-over-year increase of 62% [1] Company Performance - Nvidia's performance reflects the substantial returns from the hundreds of billions of dollars invested in AI by global tech giants, alleviating recent concerns regarding an AI bubble [1] - The strong earnings from Nvidia are expected to significantly boost market confidence in the tech sector [1] Market Trends - The Hang Seng Tech Index ETF (513180) has seen a continuous adjustment for four days, with the rolling P/E ratio of the Hang Seng Tech Index currently below 22 times, at a historical low compared to the 22.56% percentile over the past five years [1] - The overarching trend of the AI industry revolution remains unchanged, positioning Hong Kong tech stocks as core assets of China's AI industry [1] - With the Federal Reserve entering a rate-cutting cycle, there is potential for foreign capital to flow back into the market, alongside sustained increases in southbound capital, indicating a promising future for the tech sector [1]