英伟达反击“大空头”言论

Core Viewpoint - Nvidia has responded to criticisms regarding its business practices and the sustainability of its revenue model, asserting that its strategic investments contribute minimally to its overall revenue and that its core business remains robust and transparent [1][3][4] Group 1: Nvidia's Response to Criticism - Nvidia's CEO Jensen Huang and CFO Colette Kress addressed concerns about the AI bubble, emphasizing that the company is experiencing a positive cycle in AI development [2] - In response to Michael Burry's criticisms regarding revenue recognition and the sustainability of its business model, Nvidia clarified that its strategic investments account for a small portion of its revenue and that these companies primarily generate income from third-party clients [3] - Nvidia refuted Burry's claims about stock buybacks, stating that it has repurchased $91 billion worth of stock since 2018, not $112.5 billion as Burry suggested [3][4] Group 2: Michael Burry's Critique - Michael Burry criticized Nvidia's revenue model, suggesting that the actual demand is minimal and that many clients are financially supported by distributors [3] - Burry highlighted that Nvidia's stock buybacks have led to a dilution of shareholder value, estimating a 50% reduction in earnings for shareholders due to increased share count [3] - He also raised concerns about the longevity and profitability of Nvidia's chips, comparing older models to underperforming assets in other industries [4] Group 3: Financial Health and Transparency - Nvidia emphasized its financial stability, asserting that its core business is fundamentally sound and distinct from companies involved in past accounting frauds [4] - The company maintains that its financial reporting is complete and transparent, prioritizing its reputation for integrity [4]