Nvidia(US:NVDA) IPO早知道·2025-08-16 02:26Core Viewpoint - Nvidia (NVDA.US) has become the first publicly traded company to exceed a market capitalization of $4 trillion and is on its way to reach $5 trillion, reflecting the strong recovery of tech giants in the U.S. stock market after two major adjustments this year [3][4][5]. Market Performance - The U.S. tech giants, including Nvidia, Meta, and Microsoft, have fully recovered from the declines caused by the "Deep Seek moment" and the "Liberation Day" policy announcements, with Nvidia's stock up by 32.68% year-to-date [6][7]. - In the Hong Kong market, Chinese core assets have also seen significant price increases since April, with Lenovo Group's stock rising over 60% and SMIC's stock up over 30% since the "Liberation Day" [4][10]. Lenovo Group's Performance - Lenovo Group reported a 22% year-on-year revenue growth to 136.2 billion RMB for the first quarter of the 2025/26 fiscal year, marking a historical high for the same period [4][19]. - The AI PC penetration rate at Lenovo has accelerated, now accounting for over 30% of total PC shipments, with a 31% market share in the global Windows AI PC segment [19]. AI Ecosystem Potential - The potential of the AI ecosystem remains a core narrative driving market optimism, with significant investments and product deliveries from companies like Nvidia, Microsoft, and Meta [5][8]. - The AI sector is seen as a key theme in the capital market, with companies that have clear AI strategies and can deliver results being recognized by investors [13][16]. Comparative Analysis - The performance of Nvidia, Meta, and Microsoft is attributed to their clear AI strategies and product deliveries, contrasting with Amazon and Google's more moderate stock price increases [7][8]. - The "Chinese Tech Seven" companies, including Xiaomi, Lenovo, and Alibaba, have mirrored the performance of their U.S. counterparts, indicating a broader recovery in the tech sector [9][10]. Future Outlook - Lenovo's management emphasizes the importance of adapting to market changes and investing in AI infrastructure, with a commitment to continue executing its hybrid AI strategy [20]. - The overall valuation of Chinese tech assets remains relatively low compared to U.S. counterparts, suggesting potential for further market capitalization recovery for companies like Lenovo [20].