Core Viewpoint - Nvidia's CEO Jensen Huang emphasizes the importance of the Chinese market and AI's transformative role across various industries during his speech at the China Supply Chain Expo [2][3][4]. Group 1: Nvidia's Development and Market Position - Nvidia has evolved from a small startup in 1993 to a leader in AI computing, launching significant innovations such as the first programmable GPU in 1999 and the AI supercomputer DGX-1 in 2016 [3]. - The company has achieved a market capitalization exceeding $4.1 trillion, significantly outpacing other tech giants like Apple and Microsoft [2][7]. Group 2: AI Applications and Contributions from Chinese Companies - AI is revolutionizing industries, with contributions from major Chinese platforms like Tencent, Alibaba, and ByteDance, enhancing sectors such as healthcare and autonomous driving [4]. - Over 1.5 million developers in China are innovating on Nvidia's platform, with Chinese open-source models driving global AI advancements [4]. Group 3: Future Outlook and Strategic Vision - Huang predicts that the next wave of AI will focus on understanding the physical world, with robots expected to perform tasks in factories within the next decade [4]. - Nvidia aims to leverage its technology for long-term partnerships in the AI era, contributing to the growth of the Chinese supply chain ecosystem [4]. Group 4: Recent Developments and Stock Performance - Nvidia recently received approval to sell the H20 chip in China, which previously faced export restrictions, leading to a significant recovery in stock price [7]. - The H20 chip, while less powerful than the flagship H100, accounted for 80% of Nvidia's revenue in China before the ban, highlighting the chip's importance to the company's financials [7].

Group 1: Inflation Trends - The latest consumer price index (CPI) data shows a month-on-month increase of 0.3% and a year-on-year increase of 2.7%, marking the highest level since February [3] - Core CPI, excluding volatile food and energy prices, rose 0.2% month-on-month and 2.9% year-on-year, aligning with market expectations [3] - Housing prices increased by 0.2% month-on-month and 3.8% year-on-year, remaining the largest contributor to the overall CPI increase [5] Group 2: Federal Reserve's Response - The inflation data may lead Federal Reserve officials to maintain a cautious stance, especially regarding the impact of tariffs on prices [6] - The stock market showed mixed results following the inflation report, with the Dow Jones down 0.1%, while the S&P 500 and Nasdaq rose by 0.36% and 0.73% respectively [6] - The Federal Reserve is expected to hold rates steady at the July meeting and potentially lower rates by 25 basis points in September [6] Group 3: Nvidia's Market Performance - Nvidia's stock surged over 4%, with a market capitalization exceeding $4.1 trillion, following the approval of its H20 product for export to China [13] - The H20 product, designed for AI acceleration, is a response to previous export restrictions and aims to maintain Nvidia's supply capabilities in the Chinese market [13] - Nvidia also announced the upcoming release of the RTXPro graphics card, targeting professional applications in AI and digital twin technologies [14]

Core Viewpoint - The Hong Kong stock market experienced a strong rally driven by the surge in demand for AI computing power, with the Hang Seng Index reaching its highest level since March this year [2][4]. Market Performance - The Hang Seng Index rose by 1.60%, while the Hang Seng Tech Index increased by 2.80%, marking a new high since June [2]. - The trading volume for the Hang Seng Index exceeded HKD 288 billion, indicating a significant improvement in market sentiment [2]. Stock Movements - Chinese concept stocks in the U.S. saw substantial pre-market gains, with Kingsoft Cloud up over 15%, GDS Holdings up over 12%, and Alibaba rising over 6% [3]. - Several stocks in the Hong Kong market, including Kingsoft Cloud, GDS Holdings, and Alibaba, experienced gains of over 10% [6]. AI Computing Power Sector - The computing power sector saw a strong performance in both Hong Kong and A-shares, with various related themes such as CPO, Kimi, and optical communication witnessing significant growth [5]. - Nvidia received approval from the U.S. government to resume sales of its H20 chip in China, which is expected to alleviate the domestic computing power shortage and benefit the entire AIDC industry chain [10][8]. Future Outlook - The AI narrative is expected to reignite as Nvidia's market capitalization surpasses USD 4 trillion, leading to increased interest in AI computing power sectors [14]. - Alibaba plans to invest CNY 380 billion in AI and cloud infrastructure over the next three years, marking the largest investment in this area by a private enterprise in China [16]. Industry Trends - The global AI industry is entering a rapid development phase, with increasing demand for computing power driving the need for enhanced data center resources [18]. - Analysts predict sustained high levels of investment in computing power, particularly in North American core players and companies poised to capture market share [18].