HANGZHOU, CHINA - FEBRUARY 25, 2026 - The NVIDIA logo was captured in Hangzhou, Zhejiang Province, China on February 25, 2026. (Photo credit should read CFOTO/Future Publishing via Getty Images)CFOTO/Future Publishing via Getty ImagesNVIDIA stock (NASDAQ: NVDA) is currently riding a wave of massive momentum, with its stock up nearly 50% over the last twelve months. This growth reflects the company’s successful evolution from a mere hardware supplier into the essential infrastructure provider for the global ...

财报发布后，高盛重申对英伟达的"买入"评级并看涨至250美元。受超大规模云厂商资本支出增加、AI 初创企业融资落地及新架构技术领先三大催化剂驱动，英伟达跑赢大盘路径清晰。 分析指出，英伟达第四财季总营收与数据中心营收双双超预期并创新高，毛利率随着新一代架构 Blackwell芯片的生产爬坡继续改善，且在未计入部分中国市场收入的情况下对2027财年第一财季的指 引更强劲，强化了AI算力需求韧性的叙事，有助于缓解市场对AI投资泡沫的担忧。 智通财经APP获悉，周四，英伟达(NVDA.US)盘前涨近1%，报197.41美元。消息面上，英伟达再一次公 布了堪称"炸裂"的业绩。财报显示，在截至1月25日的2026财年第四财季，英伟达营收同比增长73%， 至创纪录新高的681亿美元，好于分析师普遍预测的659亿美元。按业务划分，数据中心业务(负责其行 业领先的AI加速器和网络产品)第四财季营收同比增长75%至623亿美元，同样创纪录新高，好于分析师 普遍预测的604亿美元。盈利方面，在Non-GAAP会计准则下，营业利润同比增长81%至461亿美元，净 利润同比增长79%至396亿美元。调整后的每股收益为1.62美元，好 ...

【#AI拐点也有盲点#】#英伟达#又交出了一份让行业咂舌的财报，第四财季营收利润涨幅双双超过 70%。站在聚光灯下，英伟达CEO黄仁勋颇为笃定：代理AI（Agentic AI）已达到拐点，企业对智能体 的采用率正在飙升，算力直接转化为收入。#元宝# 从大模型到智能体，从对话互动到系统级操作，Agentic AI或者智能体的跃进，意味着AI从会聊天到会 干活、从消费端的社交娱乐到企业级的商业渗透。黄仁勋无疑是最乐观的那个人，但越来越多的人也开 始意识到，AI似乎真的要完成从"嘴替"到"手替"的关键一跃。 值得注意的是，就在同一时间，在春节AI大战中赚足眼球的腾讯元宝，却在忙着为用户生成的内容差 错而致歉。一位用户使用元宝制作拜年海报时，呈现的是一句脏话。元宝官方：模型在多轮对话中输出 了异常结果。这不是大模型产品第一次"情绪失控"，年初元宝就曾对要求改代码的用户"辱骂+乱回"。 宏大愿景撞上琐碎情绪，一边是黄仁勋口中的指数级增长，一边是消费级场景里的失误频出——画面放 在一起，构成了AI叙事里最真实的割裂。 无论从技术上还是商业上，AI拐点是存在的，甚至无法被预测被计划。英伟达的业绩是结果，黄仁勋 得以对形势总 ...

来源：华尔街见闻 作者：叶慧雯、鲍奕龙 英伟达强劲财报提振亚洲科技股全线走高，MSCI亚太指数涨1%创历史新高。韩国SK海力士涨逾2%、 三星电子涨超5%，日本软银涨4%。分析师普遍看好AI供应链前景，但部分人士对过度投资隐忧及竞争 格局持审慎态度，认为市场信心修复有限。美元走软，黄金小幅上涨，比特币跌破6.8万美元。 英伟达强劲的季度业绩未能彻底消除市场对人工智能投资前景的疑虑，全球股市在此前"AI恐慌"后的反 弹动能显露疲态，亚太市场早盘的科技股狂欢正面临考验。 （韩国综合指数涨超1.7%） 英伟达财报对亚洲AI供应链的提振效果最为直接。SK海力士作为英伟达高带宽内存的 关键供应商，早盘上涨逾2%；三星电子涨超5%。韩国零部件制造商LG Innotek大涨近 14%，首尔半导体飙升13%。 欧洲主要股市开盘涨跌互现，德国DAX指数跌0.23%，英国富时100指数涨0.21%，法 国CAC40指数涨0.07%。 美股三大股指期货均处于下跌状态，但跌幅非常有限（均不足0.2%。道琼斯期货下跌 0.19%，标普500期货下跌0.04%和纳斯达克100期货下跌-0.038%，几乎持平，仅微 跌。 美股芯片存储板块 ...

在稍后的财报电话会上，英伟达CEO黄仁勋和首席财务官Colette Kress反复强调，AI(人工智能)发展已 经迎来拐点，算力需求呈爆发式增长。在这一新时代背景下，算力即营收。 黄仁勋还在财报电话会上透露，目前各大云计算服务商、超大规模云计算企业、AI模型研发商和企业 客户部署的Blackwell(英伟达目前最高级的AI芯片)架构基础设施，算力已达90亿瓦，且处于满负荷运行 状态。另外，本周早些时候，英伟达已向客户交付首批Vera Rubin样品，量产计划将于2026年下半年如 期推进。 至于业内普遍关注的英伟达上一代芯片H200，根据该公司高管在财报电话会上的说法，面向中国客户 的H200产品出口尚未产生相关营收。另外，英伟达方面还谈到，中国本土竞争对手近期完成首次公开 募股，实力不断提升，或对全球AI行业格局造成长期冲击。 数据中心营收创新高引质疑："需求是否过于密集？" 数据显示，英伟达2026财年第四季度营收创下纪录，达681亿美元，环比增长20%，同比增长73%。净 利润429.6亿美元，同比增长超90%，摊薄后每股收益1.76美元。 编辑|程鹏陈俊杰杜恒峰校对|陈柯名 当地时间2月25日，英伟达 ...

智通财经APP注意到，英伟达(NVDA.US)第四季度财报不仅以显著优势超越预期，其业绩指引甚至让最 看涨的分析师也感到意外。由黄仁勋领导的这家公司预计下一季度销售额将达到780亿美元，远高于华 尔街728亿美元的预测。 然而，该公司股价周四盘前交易中仅上涨约1%。华尔街分析师认为股价还有更多上涨空间：只是需要 更多时间。 摩根大通分析师哈兰.苏尔在给客户的报告中写道："英伟达显然在内部及其庞大供应链的各个环节都火 力全开，在继续提升Blackwell平台(GB200+GB300)产量的同时，也在为其Vera Rubin平台的即将上量(计 划在2026年下半年)做准备。即便如此，股价反应表明投资者仍不满足，我们认为这与英伟达数据中心 业务在2027日历年增长轨迹的持续不确定性有关，考虑到其主要客户(美国五大超大规模企业的资本支 出总额预计在2026日历年同比增长约70%至6500亿美元以上)大幅扩张的资本支出预算以及显著压缩的 自由现金流状况。但退一步看，该股在财报电话会议前的交易价格约为华尔街2027日历年预期每股收益 的19倍，在我们看来，英伟达就像一根被压紧的弹簧，在这份业绩公布后绷得更紧了。" 小摩给 ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA, AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether ...

Core Insights - The article discusses the investment positions of analysts in NVDA and AMD, indicating a positive outlook on these companies based on their stock ownership and derivatives [1]. Group 1 - Analysts have a beneficial long position in NVDA and AMD, suggesting confidence in the future performance of these stocks [1].

Core Viewpoint - Nvidia's FY26Q4 financial report significantly exceeded market expectations, showcasing robust growth in revenue and net profit, reinforcing its position as a leader in the AI chip market amidst ongoing debates about the sustainability of AI growth [4][16]. Revenue Performance - Total revenue reached $68.1 billion, a 73% year-over-year increase and a 20% quarter-over-quarter increase, surpassing the market consensus of $65.9 billion and previous guidance of $65 billion [3]. - Data center revenue for Q4 was $62.3 billion, up 75% year-over-year and 22% quarter-over-quarter, accounting for 92% of total revenue, driven by the ramp-up of Blackwell and Blackwell Ultra [5]. Profitability Metrics - GAAP gross margin was 75%, up 2 percentage points year-over-year and 1.6 percentage points quarter-over-quarter, slightly above the market expectation of 74.9% [8]. - GAAP net profit reached $42.96 billion, a 94% year-over-year increase and a 35% quarter-over-quarter increase, significantly exceeding the market expectation of $36.3 billion [8]. Business Segments - Gaming revenue for Q4 was $3.7 billion, a 47% year-over-year increase but a 13% quarter-over-quarter decline, representing 6% of total revenue [10]. - Networking revenue surged to $11 billion, a 263% year-over-year increase and a 34% quarter-over-quarter increase, marking the first time it surpassed $10 billion in a single quarter [9]. Future Guidance - For FY27Q1, Nvidia expects revenue of $78 billion, a 77% year-over-year increase, significantly above the market consensus of $72.8 billion, primarily due to the ramp-up of the Blackwell Ultra platform [11]. - The company anticipates continued growth in the data center segment, with orders exceeding previous revenue guidance of $500 billion [14]. Market Dynamics - Nvidia's management indicated that the AI market is evolving, with growth shifting from cloud computing to vertical industries and sovereign AI initiatives [13]. - The company has secured supply commitments totaling $95.2 billion, reflecting a significant increase in production capacity for semiconductors and related technologies [12]. Shareholder Returns - Nvidia repurchased $3.8 billion in shares and paid $243 million in dividends, with a remaining buyback authorization of $58.5 billion, indicating a balanced approach between shareholder returns and investment in growth [14].

Let's bring in Kevin Green, senior markets correspondent right away to help set up the action today. All right, KG, let's jump into it right away with Nvidia's latest results. Shares a little higher in the pre-market, not by much.Um, but you've talked about this, you know, well, actually they're flip-flopping literally as we uh speak right now, but this looks like it was a strong report generally across the board. What's your take. >> Yeah, I would agree.uh the market was kind of implying around a 4 and a.5 ...