行业点评报告：英伟达业绩超预期，坚定看好全球AI算力链

Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The report highlights a strong performance from Nvidia, with Q4 FY2026 revenue reaching $68.1 billion, a year-on-year increase of 73% and a quarter-on-quarter increase of approximately 19% [5] - Nvidia's data center business revenue reached $62.3 billion, growing 75% year-on-year and 22% quarter-on-quarter, driven by the release of Blackwell and Blackwell Ultra products [5] - The report emphasizes the optimistic outlook for Nvidia, predicting Q1 FY2027 revenue to reach $78 billion, with a growth forecast for the 2026 calendar year exceeding the previously announced target of $500 billion for the Blackwell and Rubin platforms [6] - Major cloud service providers are expected to continue driving demand for Nvidia's AI chips, contributing over 50% of the data center business revenue [6] Summary by Sections Industry Trends - The global AI industry trends are strengthening, with a focus on four main lines: "optical, liquid cooling, domestic computing power, and satellites" [8] - Significant capital expenditure increases from major AI companies support the development of AI computing power, with Amazon, Google, Meta, and Microsoft all reporting substantial year-on-year growth in capital expenditures [7] Recommended Stocks - The report recommends several stocks including Zhongji Xuchuang, Xinyi Sheng, Yingweike, and others as key investment targets benefiting from the AI industry growth [8]