周末私函“逐条”反驳“大空头”，周二发帖“自证”领先谷歌，英伟达有点慌了？

Core Viewpoint - Nvidia's defensive actions have not met expectations, leading some analysts to believe these responses reveal a sense of "being at a loss" for the company, which typically should not need to respond to every market concern during non-earnings periods [1][5][6] Group 1: Market Response and Stock Performance - On a recent Tuesday, Nvidia's stock experienced a significant drop of over 7% during intraday trading, ultimately closing down approximately 2.6%, marking a new closing low in over two months [2] - In contrast, Alphabet, Google's parent company, saw its stock rise by 1.6%, reaching a historical high and approaching a market capitalization of $4 trillion [2] Group 2: Competitive Pressure - Nvidia's recent communications are seen as a response to competitive pressures, particularly from Google, which poses a direct challenge to Nvidia's dominance in the AI chip market, where Nvidia holds over 90% market share [9] - Concerns have arisen that if major clients like Meta begin to adopt Google's custom AI chips, it could indicate a weakening of Nvidia's competitive moat [9] Group 3: Internal Communications and Investor Concerns - Nvidia distributed a seven-page memo to Wall Street analysts to counter criticisms from notable investors, including Michael Burry, who has likened the current AI hype to the internet bubble of the late 1990s [4][10] - The memo addressed accusations of accounting fraud, circular financing, and the AI bubble, asserting that Nvidia's core business remains robust and transparent [11] Group 4: Analyst Reactions - Analysts have expressed that Nvidia's defensive measures may have backfired, making the company appear reactive rather than confident, which could exacerbate existing fears regarding AI investments and competition [13][14] - The unusual communication strategies employed by Nvidia, combined with market sensitivity to competitive dynamics, suggest that the company's position as the "king of AI" may not be as secure as previously thought [14]