炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：我是AI人 近日，英伟达13F监管文件中的一系列投资调整，将焦点集中在"增持诺基亚"这一操作上。这家AI算力 巨头不仅清仓安谋控股（ARM）剩余股份、退出Applied Digital等AI生态标的，还大幅增持英特尔、新 建仓新思科技，而其中对诺基亚约2.9%的持股，尤为引人深思。 褪去手机巨头光环的诺基亚，为何能获得黄仁勋的青睐？这场增持背后，藏着黄仁勋怎样的战略考量？ 的核心环节，其构建完整AI基础设施的初心从未改变。 具体来看，黄仁勋的战略布局已形成清晰闭环，增持诺基亚只是其中关键一步：增持英特尔，是为了深 化芯片制造合作，破解AI芯片产能瓶颈，筑牢算力底层根基；增持诺基亚，是为了补齐网络通信短 板，为物理AI、边缘计算等场景提供低时延网络支撑，打通算力落地的"最后一公里"；新建仓新思科 技，则是为了强化芯片设计与算力硬件的协同，降低AI芯片研发成本、提升效率。三者相辅相成，共 同指向"算力-网络-芯片设计"的闭环生态，这正是黄仁勋当前的核心战略方向。 如今的诺基亚早已脱离消费电子赛道，转型为全球领先的电信设备供应商，且正处 ...

The sell-off was ignited by a Business Insider report suggesting a major financing friction point for CoreWeave's ambitious infrastructure expansion.NBIS stock is moving. See the chart and price action here. Data Center Financing WoesThe facility was intended to be a flagship site for CoreWeave's GPU-as-a-service model. The anxiety was compounded by Blue Owl’s recent decision to halt quarterly redemptions for one of its retail-focused funds, which investors interpreted as a “canary in the coal mine” for liq ...

Nvidia disclosed in a filing on Tuesday that it no longer held shares in Applied Digital, drug-discovery company Recursion Pharmaceuticals and autonomous-driving company WeRide. ...

Core Insights - Nvidia has liquidated its positions in Applied Digital, Arm Holdings, and WeRide in the fourth quarter of 2025, while initiating new investments in Intel, Synopsys, and Nokia [1] Group 1 - Nvidia's divestment includes complete liquidation of shares in Applied Digital, Arm Holdings, and WeRide [1] - New investments made by Nvidia include Intel, Synopsys, and Nokia, indicating a strategic shift in its investment portfolio [1]

Core Insights - Nvidia's holding concept stock NEBIUS experienced a V-shaped rebound, rising over 4% after previously dropping more than 7% [2] - The company reported a significant year-over-year revenue increase of 547% for Q4 [2] - Other related stocks such as CoreWeave and Applied Digital also saw gains, with CoreWeave up over 2% and Applied Digital up 1.5% [2]

Core Insights - Nvidia's holding concept stock NEBIUS experienced a V-shaped rebound in pre-market trading, rising over 4% after previously dropping more than 7% [1] - The company reported a significant year-over-year revenue increase of 547% for Q4 [1] - CoreWeave and Applied Digital also saw gains, with CoreWeave rising over 2% and Applied Digital increasing by 1.5% [1]

Core Insights - IREN Limited (IREN) aims to achieve $3.4 billion in annualized run-rate revenues (ARR) by the end of 2026, primarily driven by its AI cloud business [1][10] Financial Performance - In Q2 of fiscal 2026, IREN reported approximately $2.3 billion of ARR under contract, including a significant agreement with Microsoft and $0.4-$0.5 billion from the Prince George site [1][10] - IREN secured $3.6 billion in GPU financing and received $1.9 billion in customer prepayments from Microsoft, covering about 95% of the GPU-related capital spending associated with the Microsoft contract [2] - The Zacks Consensus Estimate for IREN's fiscal 2026 revenues is $1.01 billion, indicating a year-over-year increase of 98.6%, while the estimate for fiscal 2027 revenues is $2.76 billion, reflecting a year-over-year increase of 172.6% [4] Power and Infrastructure - IREN has secured over 4.5 gigawatts (GW) of power, which is crucial in the current data center market, and only about 10% of this power will be used to reach the $3.4 billion ARR target by the end of 2026 [3] - The company plans to deploy around 140,000 GPUs by the end of 2026, supported by its available power capacity [3] Competitive Landscape - IREN faces significant competition from Applied Digital (APLD) and TeraWulf (WULF) in the AI infrastructure sector [5] - Applied Digital is constructing Delta Forge 1, an AI data center campus with an initial capacity of 430 megawatts (MW) [6] - TeraWulf has expanded its portfolio by acquiring two sites, adding approximately 1.5 GW of power capacity, increasing its total to about 2.8 GW [7] Stock Performance - IREN's shares have increased by 142.5% over the past six months, outperforming the Zacks Financial Miscellaneous Services industry's decline of 23.4% [8]

Core Insights - IREN Limited's shares increased by 5.1% following the release of its second-quarter fiscal 2026 results, driven by significant growth in its AI Cloud Business, which saw a sequential increase of 136.9% to $17.3 million from $7.3 million in the previous quarter [1][9]. Business Transition and Market Opportunity - IREN is transitioning from a pure-play crypto-mining company to an AI Cloud Service Provider, positioning itself to benefit from the rapidly growing AI compute infrastructure market, which is projected to grow at a CAGR of 23.8% [2]. - The company aims to achieve $3.4 billion in annualized run-rate revenues (ARR) by the end of calendar 2026, with $2.3 billion of ARR already under contract, including a significant agreement with Microsoft [3]. Financial Backing and Growth Capacity - In the second quarter of fiscal 2026, IREN secured $3.6 billion in GPU financing and received $1.9 billion in customer prepayments from Microsoft, covering approximately 95% of GPU-related capital expenditures associated with the Microsoft contract [4]. - IREN has secured over 4.5 gigawatts (GW) of power, with only about 10% needed to reach its $3.4 billion ARR target, leaving substantial capacity for future growth [5]. - The company expanded its power capacity by securing a 1.6-gigawatt site in Oklahoma, enhancing its U.S. footprint and supporting long-term expansion plans [6]. Revenue Estimates and Growth Projections - The Zacks Consensus Estimate for IREN's fiscal 2026 revenues is $1.08 billion, reflecting a year-over-year increase of 112.8%, while the estimate for fiscal 2027 revenues is $2.78 billion, indicating a year-over-year increase of 156.2% [7]. Competitive Landscape - IREN faces significant competition in the AI infrastructure space from established players like Applied Digital and TeraWulf, which may impact its market position [10]. - Recent developments from competitors include Applied Digital's construction of a large AI data center and TeraWulf's acquisition of sites to expand its power capacity [11][12]. Stock Performance and Valuation - IREN's shares have declined by 30.5% over the past three months, underperforming the industry average decline of 17.3% and lagging behind peers like Applied Digital and TeraWulf [13]. - The company's shares are currently considered overvalued, trading at a forward price/sales ratio of 5.6X compared to the industry average of 3.02X [17]. Conclusion - IREN's strategic shift towards AI cloud services is yielding positive early results, supported by strong contracts and funding. However, the high level of competition and premium valuation suggest a cautious approach to investment in the stock [20].

Core Viewpoint - The data center sector is emerging as a significant investment opportunity in the artificial intelligence (AI) revolution, with companies like Digital Realty Trust positioned favorably to benefit from this growth [1]. Group 1: Investment Opportunities - Data centers are crucial for the AI industry, and companies such as Vertiv, CoreWeave, and Applied Digital are well-placed to capitalize on this trend [1]. - Digital Realty Trust, as the world's largest data center operator, owns over 300 data centers across 50 cities and serves more than 5,000 customers, making it a prime candidate for investors looking to engage with the AI data center market [3]. Group 2: Business Structure and Financial Benefits - Digital Realty Trust operates as a real estate investment trust (REIT), allowing it to pass the majority of its profits from recurring rental revenue to shareholders as dividends, thus avoiding corporate-level taxation [4]. - This structure enables shareholders to benefit more directly from the growth of the AI data center industry, which is projected to grow at an average annualized rate of over 27% through 2035 [5]. Group 3: Growth and Performance - While the AI data center business does not exhibit the explosive growth seen in companies like Nvidia, Digital Realty's third-quarter revenue growth of 10% aligns with its historical performance and analysts' expectations [6].

Group 1 - The Bitwise Crypto Industry Innovators ETF is flat year to date, despite Bitcoin's 20% decline over the past year, with most losses occurring recently [1][2] - The ETF has almost tripled from its trough to peak last year, indicating potential despite Bitcoin's current weaknesses [2] - The ETF is primarily composed of crypto mining companies pivoting to AI infrastructure, with eight of its top ten holdings focused on this transition [5][7] Group 2 - Iren is the largest position in the ETF, accounting for nearly 15% of total assets, while Applied Digital and Cipher Mining together make up over 12% [7] - Five of the top ten positions have more than doubled in value over the past year, representing about two-thirds of the fund's total assets [8] - The ETF has a high expense ratio of 0.85%, which is considered excessive compared to many index funds with ratios below 0.1% [9][10]