Xin Lang Cai Jing·2025-11-24 03:23Core Viewpoint - Nvidia reported a significantly better-than-expected quarterly performance, with third-quarter revenue reaching $57 billion, representing a year-on-year increase of 62% and a quarter-on-quarter increase of 22%, surpassing market expectations and company guidance by 3% and 6% respectively [1] Financial Performance - Non-GAAP gross margin was 73.6%, slightly below market expectations but marginally above company guidance [1] - Gross margin improved by 1.0 percentage points quarter-on-quarter, primarily due to upgrades in the data center product mix, shortened delivery cycles, and optimized cost structure [1] Market Sentiment - The company’s strong execution and guidance have significantly alleviated market concerns regarding an AI bubble [1] - The outlook for the AI industry remains optimistic, with expectations that the AI supply chain will continue to outperform the market until 2026 [1] Investment Recommendations - The report reaffirms "buy" ratings for companies Zhongji Xuchuang and Shengyi Technology based on the positive outlook for the AI sector [1]