Nvidia(US:NVDA) 3 6 Ke·2025-11-21 01:49Core Insights - Huang Renxun's influence on the U.S. stock market and economy is now considered greater than that of Elon Musk, particularly following Nvidia's earnings report [1][10] - Nvidia's strong earnings report has boosted market confidence, leading to a rebound in AI-related stocks and the broader market [2][4] Financial Performance - Nvidia reported third-quarter revenue of $35.1 billion, with data center revenue contributing $30.8 billion, a 112% year-over-year increase, significantly exceeding Wall Street's expectations [5] - Non-GAAP earnings per share were $0.81, up 103% year-over-year, and net profit reached $19.3 billion, compared to $9.24 billion in the same period last year [5] - For the upcoming fourth quarter, Nvidia expects revenue of $37.5 billion, which is well above Wall Street's estimates, indicating strong future growth confidence [5] Market Reaction - Following the earnings report, Nvidia's stock surged by 5% in after-hours trading, recovering from a previous 10% decline over the past three weeks [4] - However, the positive market reaction was short-lived, with the Nasdaq and S&P 500 indices declining by 2.15% and 1.56%, respectively, the following day [4] AI Market Dynamics - Huang Renxun emphasized the strong demand for Nvidia's new Blackwell architecture, which is expected to be a significant growth driver, with predictions of "billions" in revenue from Blackwell in the fourth quarter [7] - Nvidia has delivered 13,000 Blackwell sample chips to customers, indicating robust demand for AI infrastructure [7] Strategic Investments - Nvidia has made substantial investments in AI startups, including a $10 billion investment in Anthropic, which will help the company secure more computing power from Microsoft [8][10] - The company has also invested in OpenAI and xAI, with potential total investments reaching $100 billion [8] Concerns and Market Sentiment - Despite Nvidia's strong performance, concerns about an "AI bubble" persist, with investors worried about the sustainability of AI spending and the potential for a market correction [11][15] - The Nasdaq index has dropped nearly 5% this month, reflecting broader market anxieties about AI valuations and the concentration of market power among a few tech giants [15][16] Future Outlook - Nvidia's data center business has surpassed $50 billion in quarterly sales, indicating continued investment in AI infrastructure globally [11][12] - Analysts suggest that Nvidia's expected price-to-earnings ratio of 29 is not indicative of a bubble, as it is lower than the three-year average [14] - The company faces challenges in managing supply chains and meeting the high demand for its products, which may impact future growth [10]