Core Insights - NVIDIA aims to build a global AI computing aggregation platform through the acquisition of Lepton AI, which was established only two years prior. This platform, NVIDIA DGX Cloud Lepton, connects a network of global GPU cloud providers with AI developers, creating a closed-loop "AI computing kingdom" that encompasses hardware, ecosystem, and end customers [5][8][11]. Group 1: NVIDIA's Acquisition of Lepton - The acquisition of Lepton AI for several hundred million dollars in April 2025 is a strategic move for NVIDIA to expand beyond just hardware sales of AI chips [5][8]. - Lepton AI is recognized as a top-tier GPU cloud service provider, classified as "Gold" level by Semianalysis, alongside Nebius and Oracle, with only CoreWeave above it in the "Platinum" category [8][11]. Group 2: Value Proposition for End Customers - Lepton provides a unified and user-friendly AI development platform that addresses issues such as GPU resource shortages and the complexity of multi-cloud infrastructure management, offering developers a standardized environment for development, training, and deployment [11][14]. - Developers can flexibly choose and switch between different cloud service providers based on real-time pricing and availability, optimizing costs and avoiding vendor lock-in [18][21]. Group 3: Value Proposition for Cloud Service Partners - Lepton serves as a distribution channel for GPU cloud service providers, allowing them to maximize GPU rental rates and revenue through collaboration with NVIDIA [23][26]. - Smaller GPU cloud service providers benefit from increased GPU utilization, while larger providers face a dilemma of either joining the Lepton ecosystem or risking losing business to competitors who do [26][27]. Group 4: Value for NVIDIA - By utilizing Lepton, NVIDIA gains direct access to end customers, enhancing its computing ecosystem and creating a more comprehensive business model beyond just chip sales [27][28]. - The platform is expected to generate a more stable and recurring revenue stream, improving NVIDIA's long-term valuation and profitability, similar to cloud service providers [28][30]. Group 5: Investment Recommendations - The report suggests focusing on overseas AI computing infrastructure companies such as NVIDIA, TSMC, Broadcom, and AMD, as well as domestic companies involved in AI computing and domestic substitution, including various hardware and software providers [31].

Core Insights - The article discusses the rapid development of artificial intelligence (AI) technology and its potential opportunities in the market, emphasizing the importance of analyzing AI-related stocks and market trends for deeper industry insights [1]. Group 1: Company Updates - Nvidia (NVDA.US) shares fell over 3% to $131.06 after CEO Jensen Huang announced a reevaluation of its China market strategy due to U.S. government restrictions on the export of the H20 chip, indicating that no further Hopper series products will be launched for the Chinese market [3]. - Google CEO Sundar Pichai stated that AI will not eliminate search engines but will drive their advancement, highlighting the potential for AI to enhance search capabilities [3]. - Nvidia launched the Lepton cloud platform at COMPUTEX 2025, connecting global developers with thousands of GPUs for building AI applications [3]. Group 2: Market Analysis - CITIC Securities reported that Tencent and Alibaba's investments in AI are beginning to yield results, with AI capabilities contributing significantly to Tencent's advertising and gaming businesses, while Alibaba's AI-related product revenues are experiencing high growth across various sectors [6][7]. Group 3: Major Transactions - Nvidia's stock saw a nearly 15% increase last week, with a year-to-date rise of 0.4%, driven by the announcement of supplying over 18,000 top-tier AI chips to Saudi Arabia, which has helped restore its market value above $3 trillion [9][10]. Group 4: Regulatory Developments - The European Commission is seeking feedback on Microsoft's proposed commitments to address antitrust issues related to its Office-Teams acquisition, which includes offering a suite version without Teams and improving interoperability for competitors [11][12].

5月19日，英伟达在COMPUTEX2025上宣布推出NVIDIA DGX Cloud Lepton。英伟达称，这是一款具备 计算市场的AI平台，它将全球开发者与数万颗GPU连接起来，这些GPU可从全球云服务提供商网络获 取，用于构建代理和物理AI应用程序。(第一财经) ...

Core Insights - NVIDIA announced the launch of NVIDIA DGX Cloud Lepton™, an AI platform that connects developers with a global network of cloud providers offering tens of thousands of GPUs [1][3] - The platform aims to meet the increasing demand for AI by providing access to GPU compute capacity for both on-demand and long-term computing needs [2][3] - NVIDIA's CEO, Jensen Huang, emphasized the platform's role in building a planetary-scale AI factory by unifying access to cloud AI services and GPU resources [3] Platform Features - DGX Cloud Lepton integrates with NVIDIA's software stack, including NVIDIA NIM™ and NeMo™ microservices, to facilitate the development and deployment of AI applications [3] - The platform offers management software for cloud providers that includes real-time GPU health diagnostics and automates root-cause analysis, reducing downtime [4] - Key benefits include improved productivity and flexibility, frictionless deployment across multi-cloud environments, and predictable performance for enterprise-grade applications [8] Partnerships and Market Impact - NVIDIA Cloud Partners (NCPs) such as CoreWeave, Foxconn, and Softbank Corp. will provide NVIDIA Blackwell and other GPUs on the DGX Cloud Lepton marketplace [2][7] - Yotta Data Services is the first NCP in the Asia-Pacific region to join the NVIDIA Exemplar Cloud initiative, which aims to enhance security, usability, and performance for cloud partners [5][7] - The platform is expected to attract leading cloud service providers and GPU marketplaces, further expanding its reach and capabilities [3][8]