#突发 彭博：中国已敦促当地企业避免使用英伟达公司的H20处理器，特别是用于与政府相关的目的。一名知情人士称，AMD的AI芯片也受影响。知情人士透露，部分企业所收到的信件列出了一系列问题，其中包括，企业为何选择英伟达H20芯片而非国产芯片？考虑到国内市场有众多选择，这是否是必要的选择？ https://t.co/vVCWZIZuCl外汇交易员 (@myfxtrader):央视玉渊谭天：美国曾设计“片上治理机制”，包括许可锁定、追踪定位、使用监测、使用限制等功能，英伟达芯片已广泛部署了所需的大部分功能。无论从哪个角度讲，H20对于中国来说，都算不上是一款安全的芯片。当一款芯片，既不环保，也不先进，更不安全时，作为消费者，我们当然可以选择，不买。 ...

Summary of Nvidia's Conference Call Company Overview - **Company**: Nvidia - **Industry**: Semiconductors Key Points and Arguments 1. **New AI Chip Launch**: Nvidia plans to launch a new AI chip specifically designed for the Chinese market as soon as September, with CEO Jensen Huang visiting China to reaffirm the company's commitment [5][12] 2. **Compliance with Export Controls**: The new chip is a modified version of Nvidia's existing Blackwell RTX Pro 6000 processor, adjusted to comply with US export control regulations [6] 3. **Removal of Advanced Technologies**: The new product will lack advanced technologies such as high-bandwidth memory (HBM) and NVLink, which are essential for faster data transfers [6] 4. **Market Capitalization Milestone**: Nvidia became the first company to reach a market capitalization of $4 trillion, recovering from earlier stock price declines due to US export controls [7][8] 5. **Geopolitical Challenges**: Huang is increasing diplomatic efforts with Chinese and US leaders as Nvidia navigates geopolitical tensions while trying to maintain its market position [8] 6. **Meetings with Chinese Officials**: Huang is expected to meet with top Chinese officials, including Premier Li Qiang, to discuss Nvidia's operations in China [9][10] 7. **Market Share Decline**: Nvidia's market share in China has decreased from 95% four years ago to 50%, attributed to US export restrictions prompting local companies to accelerate their own AI product development [11] 8. **Potential Market Size**: Nvidia anticipates competing in a Chinese AI market valued at $50 billion in the near future [11] 9. **Financial Impact of Export Restrictions**: Multiple rounds of export restrictions have resulted in Nvidia losing billions in business, yet the company remains committed to the Chinese market [12] 10. **Testing and Demand**: Chinese clients have begun testing samples of the new chip and have shown interest in significant orders, despite its performance being inferior to local competitors [14] 11. **Concerns Over Dependency**: Chinese companies are increasingly wary of relying on Nvidia products due to uncertainties in US policy, with major players like Alibaba and Tencent exploring alternatives from local producers [16] 12. **Inventory and Financial Risks**: Launching the new product and ensuring uninterrupted supply will require building a large inventory, which poses financial risks if export policies remain uncertain [18] 13. **Revenue from China**: China is Nvidia's fourth-largest market, contributing $17.1 billion in revenue, which accounts for 13% of its total sales [18] Additional Important Content - **Performance Comparison**: Although the new chip's performance does not match that of top local products, clients are willing to purchase it to avoid the high costs associated with switching from Nvidia's Cuda software system [15] - **Demand Expectations**: Demand for the new chip is not expected to reach the levels of the previous H20 product, which was effectively banned in April, leading to a $5.5 billion writedown for Nvidia [15] This summary encapsulates the critical insights from Nvidia's conference call, highlighting the company's strategic moves in the semiconductor industry, particularly in relation to the Chinese market and ongoing geopolitical challenges.

Group 1 - The core point of the news is that NVIDIA's CEO Jensen Huang plans to sell up to 6 million shares of NVIDIA stock, valued at approximately $809 million based on the closing price on the announcement date [1] - Huang's previous stock sales from March to September last year totaled 6 million shares, generating over $700 million [1] - Despite the planned sales, Huang remains NVIDIA's largest individual shareholder, holding 75.4 million shares directly and 786 million shares through trusts and partnerships [1] Group 2 - NVIDIA reported its Q1 2026 financial results, achieving revenue of $44.1 billion, a 12% increase from the previous quarter and a 69% increase year-over-year [2] - The net profit for the same period was $18.8 billion, reflecting a 26% year-over-year growth, although it fell short of expectations [2] - The data center segment remains the primary revenue driver, generating $39.1 billion in Q1, a 73% year-over-year increase, with the Blackwell chip contributing 70% of this revenue [2] Group 3 - Due to U.S. government export restrictions, NVIDIA faces reduced demand for its H20 chips in China, leading to a $5.5 billion asset impairment charge [2] - NVIDIA anticipates an $8 billion loss in Q2 due to $2.5 billion worth of H20 chips that cannot be delivered [2] - Despite trade tensions, NVIDIA continues to experience strong growth, with significant increases in token generation by major clients like OpenAI, Microsoft, and Google [2]

当地时间5月28日，英伟达公布财报显示，其盈利和收入均好于预期，数据中心业务同比增长超过70%。财报推动公司盘后股价上涨约4%，市值逼近3.3万亿 美元，有望再次冲击冠军。 英伟达最新财报显示，该公司在截至4月27日的最新季度整体收入增长69%，达到441亿美元；净利润增长26%，达到188亿美元。包括AI芯片和相关部件在 内的数据中心部门销售额增长73%，达到391亿美元，占总营收的88%。 英伟达CEO黄仁勋表示，美国对华人工智能芯片出口管制是失败的。 此前美国政府通知英伟达，先前获准销售的H20处理器需要获得出口许可证。英伟达在财报中表示，公司因该芯片库存过剩产生了45亿美元的费用。 英伟达还表示，若不计入与中国市场相关的费用，其本季度毛利率将高于目前的61%，达到约71.3%。 英伟达首席财务官科莱特· 克雷斯（Colette Kress）在财报电话会议上告诉分析师，短期内，因为美国相关管制，英伟达在中国市场面临限制，数据中心收入 有所下降。 英伟达CEO黄仁勋上周在台北Computex2025大会上表示，美国对华人工智能芯片出口管制是失败的。他说道："事实证明，最初制定人工智能扩散规则的那 些基本假 ...

The chipmaker just answered bears who feared the company's growth streak had stalled.To say that investors were on the edge of their seats ahead of Nvidia's (NVDA -0.27%) highly anticipated financial report may well be an understatement. As the poster child for the artificial intelligence (AI) revolution, the company has become the benchmark for the tech industry at large and the yardstick by which progress in AI is being measured.While the chipmaker delivered better-than-anticipated results on both the top ...