黄仁勋坚称AI热潮无泡沫

Core Viewpoint - Nvidia's CEO Jensen Huang downplayed concerns about an AI bubble, emphasizing the strong demand for AI models and the willingness of customers to pay for advanced computing infrastructure, which he believes validates the investments in this area [4][5][6]. Group 1: Nvidia's Position and Market Impact - Nvidia's stock rose approximately 3%, reaching a market capitalization of $5 trillion, following Huang's announcements at the Global Technology Conference [1]. - Huang projected that the shipment of Nvidia's latest generation chips would reach 20 million units, significantly higher than the previous generation's total of 4 million units [5]. - The company is entering a "remarkable" virtuous cycle in AI, with strong customer demand for AI models supporting infrastructure investments [8]. Group 2: Market Dynamics and Economic Indicators - The current stock market rally is driven by positive macro policies, strong corporate earnings, and sustained optimism about AI [5][6]. - As of October 28, 87% of S&P 500 companies that reported earnings exceeded expectations, indicating robust profit growth among large tech and consumer companies [5]. - The Federal Reserve's anticipated interest rate cuts and lower-than-expected inflation data are providing valuation support for growth stocks [5]. Group 3: Future Investment Opportunities - Future investment opportunities may lie in foundational infrastructure and hardware, such as high-speed optical communication modules and energy systems [10]. - There is potential in Chinese concept stocks and emerging markets, particularly those related to hardware autonomy [10]. Group 4: Risks and Market Sentiment - Concerns are emerging regarding consumer confidence, which fell to a six-month low of 94.6 in October, potentially impacting market sentiment [12]. - The ongoing U.S. government shutdown has raised worries about economic stability, with historical comparisons indicating potential risks [12][14]. - Analysts warn that despite strong market performance, signs of a bear market are emerging, with high price-to-earnings ratios and credit indicators showing weakness [12][14].