海外科技周报：TACO交易几时休？-20250602

Investment Rating - Investment rating: None [4] Core Insights - Nvidia's FY1Q26 revenue reached $44.06 billion, exceeding guidance with a year-on-year growth of 69% but only a quarter-on-quarter growth of 12%. The gross margin has started to decline, falling below previous guidance [6][18] - The core driver for Nvidia's revenue remains the strong growth in data center business, accounting for approximately 89% of total revenue, particularly driven by the demand for generative AI training and inference [6][18] - The overall performance of Hong Kong and US tech stocks was mixed, with the Hang Seng Tech Index down 1.5% and the Philadelphia Semiconductor Index up 1.2% during the week [9][11] Summary by Sections 1. Overseas AI - Nvidia's FY1Q26 revenue was $44.06 billion, with a year-on-year increase of 69% and a quarter-on-quarter increase of 12%. The gross margin was 60.5%, down 12.5 percentage points from the previous quarter [18][19] - The data center business remains the main revenue driver, contributing nearly 70% of the data center computing revenue from the Blackwell platform [18][19] - The Hang Seng Tech Index closed at 5170.4, down 1.5%, while the Philadelphia Semiconductor Index closed at 4758.1, up 1.2% [9][10] 2. Web3 and Cryptocurrency Market - The total market capitalization of cryptocurrencies decreased to $3.32 trillion as of May 30, 2025, down from $3.46 trillion the previous week [24][40] - The total trading volume for cryptocurrencies was $142.46 billion, accounting for 4.29% of the total market capitalization [24] - The cryptocurrency market sentiment is currently in the greed zone, with a fear and greed index of 61 [28]