Nvidia(US:NVDA) 华尔街见闻·2025-05-18 10:40Core Viewpoint - Nvidia is actively pursuing a diversification strategy to reduce its reliance on major tech giants like Microsoft, Amazon, and Google [1] Group 1: Sovereign AI Strategy - Nvidia has established partnerships with countries like Saudi Arabia and the UAE to develop "Sovereign AI" initiatives, aiming to create new revenue streams outside of traditional tech giants [2][3] - The company has secured multi-billion dollar chip deals with Saudi Arabia's Humain and is collaborating with the UAE to build one of the largest data centers globally [3][4] - These sovereign AI projects are a key part of Nvidia's strategy to diversify its customer base, with multiple governments expressing interest in procuring chips for similar initiatives [4] Group 2: Supporting New Cloud Platforms - In addition to expanding government clients, Nvidia is supporting competitors to major cloud providers like Amazon AWS, Microsoft Azure, and Google Cloud by integrating platforms such as CoreWeave and Nebius into its growing "Nvidia Cloud Partner" network [5] - These new cloud platforms gain priority access to Nvidia's internal resources, including consulting teams for data center design and optimization [5][6] - Nvidia has invested in some of these new cloud platforms, including CoreWeave and Nebius, to strengthen its ecosystem [5] Group 3: Importance of Cloud Ecosystem - The CEO of Together AI emphasized the significance of having a cloud ecosystem, stating that if cloud giants become competitors, it is crucial for Nvidia to maintain its own ecosystem [7] - Nvidia has formed alliances with suppliers like Cisco, Dell, and HP to help sell products to enterprise clients managing their own IT infrastructure [7] Group 4: Market Opportunities - Nvidia's CEO expressed increased confidence in business opportunities outside of major cloud service providers, predicting that every industry will have its own "AI factory" dedicated to utilizing Nvidia's powerful chips, representing potential sales opportunities worth billions [8] Group 5: Challenges and Risks - Despite its diversification efforts, Nvidia's recent regulatory filings indicate continued reliance on a limited number of clients, primarily major tech companies [9] - These tech giants are developing their own AI chips, posing a competitive threat to Nvidia, particularly as Amazon enters the AI training space with its AWS Trainium processors [9] - The outcome of Nvidia's diversification strategy will be crucial for maintaining strong growth amid challenges to its dominance in the AI chip market [10]