公众号记得加星标⭐️，第一时间看推送不会错过。 来源 ：本文编译自彭博社 。 软银集团旗下的英国芯片设计公司 Graphcore 计划宣布一项 10 亿英镑（13 亿美元）的投资计划， 其中包括在印度建立一个新研究中心。 据知情人士透露，这项计划是英国企业代表团本周随首相基尔·斯塔默访问印度期间宣布的。一位不 愿透露姓名的知情人士表示，总部位于布里斯托尔的 Graphcore 计划在班加罗尔开设研究中心，并 计划在未来五年内招聘多达 500 名员工。由于讨论是私下进行的，这位知情人士不愿透露姓名。 Graphcore 和软银拒绝置评。 Graphcore 最初是英伟达公司 (Nvidia Corp.) 的一个有前途的潜在竞争对手，设计用于开发人工智 能服务的专用芯片。投资者在 2020 年给予这家初创公司 28 亿美元的估值，但 Graphcore 一直难以 获得商业吸引力。 软银于2024年收购了Graphcore，具体金额未披露。这是该公司创始人孙正义雄心勃勃的计划的一部 分，旨在利用人工智能基础设施领域的投资热潮。软银收购后，Graphcore表示将在英国及全球范围 内增加招聘。 在人工智能热潮的大部分 ...

美东时间9月22日周一，英伟达与OpenAI宣布，签署意向书确立达成战略合作，OpenAI将借此利用英伟 达的系统打造和部署至少10千兆瓦（GW）的AI数据中心，使用数百万块英伟达的图形处理器训练和部 署OpenAI的下一代AI模型。 这是英伟达迄今为止做出的最大手笔投资承诺。行情上，隔夜英伟达刷新股价历史新高。 黄仁勋称，10GW相当于多达500万GPU，等于英伟达今年的总出货量，是去年两倍。Altman称，接下 来几个月里，大家应该对OpenAI抱有很大期望。他将英伟达和微软都称为OpenAI的"被动"投资者和"最 重要的合作伙伴"。 此前OpenAI目前拥有超过7亿的周活跃用户，其ChatGPT服务需要密集的计算能力支撑。OpenAI的CEO Sam Altman上周日在社交媒体表示，OpenAI将在未来几周推出一些新的计算密集型产品，由于相关成 本较高，部分功能初期仅向Pro订阅用户开放。 液冷：英维克； 电源：中恒电气、麦格米特； 服务器：工业富联等。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 分析认为，AI算力基础设施持续迭代，并获得有望加速建设，与客户存在 ...

Group 1 - Gree's "Dong Mingzhu Health Home" has opened 970 stores nationwide, with 293 stores generating a retail total of approximately 390 million yuan after more than 30 days of operation, and plans to establish 3,000 stores this year [1][3] - The "Dong Mingzhu Health Home" model utilizes three main strategies: scenario-based experience, visual data, and smart interaction, significantly boosting sales of non-air conditioning products under Gree's brand [3] Group 2 - Vivo has announced that its 2025 Developer Conference will take place on October 10 in Shenzhen, where it will unveil its AI strategy and new operating systems [5] - The conference will also showcase new developments in various fields, including a new end-side multimodal large model and smart vehicle solutions [5] Group 3 - The State Administration for Market Regulation of China has initiated further investigations into NVIDIA for potential violations of the Anti-Monopoly Law related to its acquisition of Mellanox Technologies [12] - NVIDIA, established in the U.S. in 1998, focuses on the development, production, and sales of graphics processors, while Mellanox, founded in Israel in 1999, specializes in network interconnect products [12]

被收购方迈络思，于1999年在以色列设立，在美国纳斯达克证券交易所上市，主要从事网络互联产品的 研发、生产和销售。 2019年3月10日，交易各方签署协议，英伟达拟收购迈络思全部股份。集中完成后，迈络思成为英伟达 的全资子公司。(完) （文章来源：中国新闻网） 中新社北京9月15日电 (记者刘亮)中国国家市场监管总局15日公布，近日，经初步调查，英伟达公司违 反《中华人民共和国反垄断法》和《市场监管总局关于附加限制性条件批准英伟达公司收购迈络思科技 有限公司股权案反垄断审查决定的公告》，国家市场监管总局依法决定对其实施进一步调查。 据中国市场监管部门此前披露，收购方英伟达于1998年在美国设立，在美国纳斯达克证券交易所上市， 主要从事图形处理器的研发、生产和销售。 ...

Core Viewpoint - Nvidia's revenue is significantly concentrated among a few large clients, raising concerns about its dependency on major cloud service providers, despite strong demand for AI systems and a diversification of revenue sources [1][6][7]. Group 1: Client Concentration - Client A accounts for 23% and Client B for 16% of Nvidia's total revenue, together making up 39%, a notable increase from 25% in the same period last year [1][6]. - The identities of Client A and Client B remain undisclosed, but they may not necessarily be cloud service providers [2]. - Nvidia categorizes its clients into "direct clients" and "indirect clients," with both Client A and Client B classified as direct clients [3]. Group 2: Revenue Sources - Nvidia's two indirect clients also contribute over 10% each to total revenue, primarily purchasing through Client A and Client B [4]. - Direct clients include original design manufacturers and distributors, while indirect clients consist of cloud service providers and enterprises [4]. Group 3: AI Demand and Market Growth - Demand for AI systems is strong and increasingly diversified, with contributions from enterprise AI system purchases, AI-focused companies, and foreign governments [7][8]. - Nvidia's CEO projects the AI infrastructure market could reach $3 trillion to $4 trillion by the end of the decade, with Nvidia products potentially accounting for about 70% of costs in a $50 billion AI-specific data center [8]. - The capital expenditure of the top four hyperscale cloud service providers has doubled in two years, reaching $600 billion this year, indicating robust growth potential [8]. - Nvidia anticipates generating $20 billion in revenue from "national sovereign AI" projects, reflecting the growing investment by governments in AI infrastructure [9].

Core Viewpoint - Nvidia's recent financial forecast indicates a potential slowdown in growth after two years of rapid expansion in the artificial intelligence sector, despite a strong overall performance in the market [1][2]. Financial Performance - Nvidia expects third-quarter sales to reach approximately $54 billion, aligning with Wall Street expectations but falling short of some analysts' optimistic projections exceeding $60 billion [1]. - In the previous quarter, Nvidia's sales grew by 56% to $46.7 billion, slightly above market expectations of $46.2 billion, but this marked the smallest percentage increase in over two years [2]. Market Position and Future Outlook - Nvidia has become one of the largest chip manufacturers globally, with annual sales projected to reach $200 billion and expected to exceed $300 billion by 2028, capturing about one-third of total revenue in the chip industry [9]. - CEO Jensen Huang emphasized the vast future opportunities in artificial intelligence, predicting infrastructure spending could reach $3 trillion to $4 trillion by the end of the century [1]. - Nvidia's growth heavily relies on spending plans from a few large data center operators, such as Microsoft and Amazon, which account for about half of its sales [1].

英伟达(NVDA.US)最新指引显示出，两年的高速增长之后将出现放缓趋势，"AI信仰"受挫了? 全球市值最高的上市公司英伟达公司对当前财季的营收预测表现平平，这表明在人工智能领域投资经历 两年惊人增长之后，其增长速度正在放缓。该公司周三在一份声明中表示，本财年第三季度(截至 10 月)的销售额约为 540 亿美元。这一数字与华尔街的平均预期相符，但一些分析师此前预计的销售额会 超过 600 亿美元。该预测未包含来自中国的数据中心业务收入，即目前提供的指引不考虑任何对华H20 销售收入。 这一前景加剧了人们对人工智能系统投资速度不可持续的担忧。在中国市场方面遇到的困难也给英伟达 的业务带来了影响。尽管特朗普政府最近放宽了对某些人工智能芯片向中国出口的限制，但这一缓和措 施尚未转化为收入的回升。 智通财经APP了解到，该公司还批准了额外的 600 亿美元股票回购计划。截至第二季度末，英伟达此前 的回购计划下仍有 147 亿美元的剩余资金可用。 在截至 7 月 27 日的这一时期内，销售额增长了 56%，达到 467 亿美元，而平均预期为 462 亿美元。尽 管这一增长使季度营收较上年同期增加了超过 160 亿美元 ...

Group 1 - The company reported a revenue of approximately RMB 551 million for the six months ending June 30, 2025, representing a year-on-year increase of about 332% [1] - The net profit attributable to equity holders was approximately RMB 45.48 million, compared to RMB 19.11 million in the same period of 2024, indicating significant profit growth [1] - The increase in profit is primarily attributed to the growth in revenue from software usage rights and solution services, along with hardware business [1] Group 2 - The company's software and hardware business experienced significant growth in the first half of 2025, benefiting from comprehensive management improvements [1] - The growth in revenue was driven by the continuous development of existing businesses and the signing and completion of new contracts related to integrated information technology solutions, edge computing, and intelligent computing [1] - The demand for high-performance computing and artificial intelligence has led to substantial growth in the company's computing infrastructure segment in the first half of 2025 [2] Group 3 - The rapid proliferation of artificial intelligence models indicates that heterogeneous architecture in parallel computing is a critical resource for intelligent computing [2] - The company has seen a significant increase in the delivery of core products, driven by the demand for high-end computing hardware, including servers and graphics processors [2] - The market demand for computing power services has surged, supporting the deployment and operation of client services [2]

Core Viewpoint - Nvidia's upcoming earnings report is not only a test of the company's performance but also a key indicator of whether the AI boom can continue to drive the US stock market higher [1] Group 1: Company Performance - Analysts expect Nvidia to achieve $46 billion in revenue for Q2, representing a 53% year-over-year growth, although this is lower than the previous quarter's 69% and the over 250% growth rate at the beginning of 2024 [1] - Nvidia's stock price has risen over 30% this year, making it the first publicly traded company to surpass a $4 trillion market capitalization [2] - Nvidia's valuation is approximately 40 times its expected earnings for the next year, significantly higher than the Nasdaq 100 index's valuation of about 28 times [5] Group 2: Market Sentiment - Nvidia's performance is viewed as a barometer for market confidence, with significant attention on its statements and results [4] - Concerns about high valuations and slowing growth are increasing, especially following a pessimistic report from MIT and comments from OpenAI's CEO, which led to declines in tech stocks [1][5] - The company's ability to navigate the Chinese AI chip market is a critical variable affecting its future guidance, with potential revenue increases from approved chip sales to China [6][7] Group 3: Client Investments - Major tech clients like Microsoft, Google, Meta, and Amazon are planning to invest heavily in AI infrastructure, with expected spending reaching $350 billion this year [8] - Nvidia's GPUs are widely used in training models for AI products like ChatGPT and Google's Gemini, providing strong support for Nvidia's performance in the coming quarters [8]

Core Viewpoint - Nvidia's CEO Jensen Huang praised TSMC during his visit to Taiwan, highlighting the company's significance and expressing that anyone looking to invest in TSMC would be "very smart" [1]. Group 1: Nvidia and TSMC Collaboration - Huang emphasized that TSMC is producing six new products for Nvidia, including a new central processing unit and a new graphics processing unit [1]. - Nvidia is planning to establish the "NVIDIA Constellation" project in Taiwan to accommodate its growing workforce, indicating a strong commitment to the region [6]. Group 2: U.S. Government Involvement in Semiconductor Industry - The U.S. government is considering acquiring stakes in semiconductor companies, including Intel, as part of discussions surrounding the CHIPS Act, which aims to revitalize U.S. semiconductor manufacturing [4]. - TSMC has received a commitment of $6.6 billion under the CHIPS Act to support the construction of three advanced chip manufacturing plants in Arizona [2]. Group 3: Market Reactions and Developments - TSMC's stock has increased by 6.5% year-to-date, reflecting positive market sentiment towards the company [6]. - Nvidia has requested some of its component suppliers to halt production related to the H20 graphics processor due to security concerns raised by China [6][7].