计算机：英伟达：Q4再超预期，全球算力需求持续强劲

Investment Rating - The report maintains a "Buy" rating for Nvidia and other related companies, indicating a preference for stocks expected to outperform the market [1][2]. Core Insights - Nvidia's FY24 Q4 results exceeded expectations, with total revenue reaching $60.922 billion, a year-on-year increase of 126%, and net profit of $29.760 billion, up 581% [1]. - The data center business saw a remarkable revenue increase of 409% year-on-year in Q4, contributing significantly to overall growth [1]. - The upcoming H200 and B100 chips are expected to enhance Nvidia's competitive edge in AI computing, with strong demand anticipated from customers [2]. Summary by Sections Financial Performance - Nvidia's Q4 revenue was $22.103 billion, a 265% increase year-on-year, with net profit at $12.285 billion, up 769% [1]. - The data center segment generated $18.404 billion in Q4, marking a 409% increase, while the gaming segment grew by 56% to $2.865 billion [1]. Future Outlook - Nvidia has raised its guidance for FY25 Q1, projecting revenue of $24 billion, a 234% year-on-year increase, and net profit of $12.5 billion, up 512% [1]. - The company expects continued growth in data center and professional visualization revenues, offsetting seasonal declines in gaming revenue [1]. Market Dynamics - The report highlights that AI inference demand is expected to increase, contributing to a significant portion of data center revenue [1]. - Despite challenges in the Chinese market due to export restrictions, Nvidia's data center business remains robust, indicating strong downstream demand [1].