英伟达财报“炸裂“，黄仁勋：AI拐点已至

Core Viewpoint - Nvidia's record-breaking financial report aims to counter skepticism regarding the AI bubble, showcasing significant revenue and profit growth amid concerns about capital expenditures in the AI sector [1][4]. Financial Performance - In Q4, Nvidia reported record revenue of $68.127 billion, a 73% increase from $39.331 billion year-over-year; net profit reached $42.960 billion, up 94% from $22.091 billion [3]. - For the entire year, Nvidia's revenue was $215.938 billion, with a net profit of $120.067 billion, equating to daily earnings of approximately $32.8 million (RMB 220 million) [3]. Business Segments - The data center segment generated $193.48 billion in revenue for the year, a 68% increase, and accounted for over 91% of total revenue in Q4, with $62.3 billion in revenue, up 75% year-over-year and 22% quarter-over-quarter [3]. - Within the data center segment, the "compute business" (primarily GPU products) contributed $51.3 billion, a 58% increase, while the "network business" generated $11 billion, a 263% increase [3]. Future Guidance - Nvidia's guidance for Q1 FY2027 anticipates revenue of $78 billion, exceeding analyst expectations [4]. - The CFO indicated ongoing sales of Blackwell and Rubin architecture chips, while the gaming segment faces tight memory supply [4]. Market Sentiment - Concerns persist among investors regarding potential threats from the AI bubble, with 23% of surveyed investors citing it as their primary concern, up from 9% in December [6]. - Despite positive performance, there are worries that capital expenditures by major tech firms may peak this year, impacting Nvidia [6][7]. Strategic Initiatives - Nvidia aims to solidify its position in the AI ecosystem, with plans to integrate various sectors onto its platform, including AI, robotics, and life sciences [8]. - The company is nearing an agreement with OpenAI for a potential $100 billion AI infrastructure project and has acquired technology from AI startup Groq for $20 billion [8]. Upcoming Developments - Nvidia's GTC 2026 conference is set for March 15, where new, unprecedented chips are expected to be unveiled [8][9]. - Speculation surrounds the new chips, likely from the Rubin series or the next-generation Feynman series, which are anticipated to be revolutionary [9].