推理需求每半年翻倍！花旗看好英伟达(NVDA.US)借Groq LPU加速产品路线图 维持“买入”评级

Core Viewpoint - Citigroup has issued a positive evaluation of the $20 billion non-exclusive licensing agreement between NVIDIA (NVDA.US) and AI chip startup Groq, maintaining a "Buy" rating for NVIDIA with a target price of $270 [1] Group 1: Strategic Significance - The collaboration is three times the latest valuation of Groq, and following the deal, Groq's founder and president will join NVIDIA [1] - This partnership acknowledges the importance of specialized inference architecture for real-time, cost-effective AI deployment, helping NVIDIA to address competition from TPU and emerging startups [1] - The licensing model allows Groq to maintain independent operations, which helps to avoid regulatory scrutiny compared to a full acquisition [1] Group 2: Market Demand and Technology - The demand for large-scale AI inference is rapidly doubling every six months [2] - Recent industry developments, such as Amazon's AWS launching a contextual memory feature for its Bedrock AgentCore platform and Google's plan to double AI computing power every six months, are driving sustained GPU/XPU demand [2] - NVIDIA's Rubin CPX GPU, designed for inference-intensive workloads, utilizes cost-effective GDDR7 memory, reducing total cost of ownership (TCO) by three times compared to expensive HBM memory [2] - Groq's Language Processing Unit (LPU) focuses on real-time inference with ultra-low latency and efficient processing of language model tokens [2] - By acquiring Groq's intellectual property through licensing, NVIDIA can quickly enhance its product roadmap with more inference-optimized computing stacks without starting from scratch [2]