Core Viewpoint - Nvidia has been a dominant player in the stock market, reaching a market cap of $4.38 trillion and briefly exceeding $5 trillion in late 2025, driven by the growth of AI technology [1]. Company Overview - Nvidia is the primary hardware provider for numerous companies developing AI capabilities, including major firms like Alphabet and even those not directly focused on AI, such as Mercedes-Benz and Illumina [2]. - The company has a comprehensive AI hardware product line that supports training, inference, and simulation, ensuring compatibility across its products [6]. Financial Performance - In Q3 of fiscal 2026, Nvidia reported a 62% year-over-year revenue growth, exceeding $57 billion for the quarter, with operating income increasing by 65% to $36 billion and diluted earnings per share (EPS) rising by 67% [8][9]. - The company reduced its long-term debt by 4.7%, holding total debt of $10.8 billion against a net cash position of $11.49 billion, which grew by 26% year-over-year [9]. - Nvidia's free cash flow increased by 31.5% year-over-year, while operating free cash flow grew by 34.7% year-over-year, with gross, operating, and net margins at 70%, 58%, and 53% respectively [9][10]. Market Position and Future Outlook - Despite some companies exploring alternatives to Nvidia hardware, the company continues to lead the AI hardware market in terms of market share and product sophistication [3][10]. - The consistent growth in revenue and income suggests a strong potential for continued performance, making Nvidia a noteworthy consideration for investment in 2026 [11].

Arm (NasdaqGS:ARM) Q3 2026 Earnings call February 04, 2026 05:00 PM ET Company ParticipantsAndrew Gardiner - Head of European Technology Equity ResearchJason Child - EVP and CFOJeff Kvaal - Head of Investor RelationsRene Haas - CEOSimon Leopold - Managing DirectorConference Call ParticipantsCharles Shi - Senior AnalystHarlan Sur - Executive Director and Equity Research AnalystJoe Quattrocchi - Director and Senior Equity Research AnalystJohn DiFucci - Senior Managing Director and Equity Research AnalystKrish ...

Financial Data and Key Metrics Changes - Revenue grew 26% year-over-year to a record $1.24 billion, marking the fourth consecutive billion-dollar quarter [4][13] - Royalties increased 27% to a record $737 million, driven by strength in AI and general-purpose data centers [4][13] - License revenue was $505 million, up 25% year-over-year, reflecting strong demand for next-generation technologies [4][14] - Non-GAAP EPS reached $0.43, close to the high end of guidance, supported by higher revenue and slightly lower operating expenses [17] Business Line Data and Key Metrics Changes - Data center royalty revenue grew more than 100% year-over-year, with expectations for it to become the largest business segment [4][13] - Edge AI, which includes smartphones and IoT, continues to grow faster than the market, with all major Android OEMs ramping up production of CSS-based devices [13][14] - Physical AI, particularly in the automotive sector, saw double-digit growth year-over-year, contributing to strong royalty performance [14] Market Data and Key Metrics Changes - Arm's share among top hyperscalers is expected to reach 50%, with significant deployments of Neoverse CPUs [8] - AWS launched its fifth-generation Graviton processor with 192 cores, showcasing the trend towards higher core counts in cloud AI [8][9] - Google has migrated over 30,000 applications to the Arm instruction set, indicating a strong shift towards Arm-based solutions in cloud environments [9] Company Strategy and Development Direction - Arm has organized its business around three units: Edge AI, Physical AI, and Cloud AI, to better align with customer deployment of AI [5] - The company is focused on increasing R&D investments to support innovation in next-generation architectures and compute subsystems [17] - Arm aims to be the compute platform of choice for all AI workloads, leveraging its strengths in power efficiency and performance [11][88] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future revenue growth due to strong customer demand and a growing base of long-duration contracts [18] - The company anticipates revenue for Q4 to be around $1.47 billion, reflecting an 18% year-over-year growth [18] - Management acknowledged potential risks from memory supply chain constraints but noted that growth in cloud AI is compensating for these risks [24][25] Other Important Information - Arm is hosting an event on March 24th, with no details provided ahead of the event [19] - The company is seeing increased demand for compute subsystems, which are expected to significantly contribute to royalty revenue in the coming years [55] Q&A Session Summary Question: Arm's role in AI and cloud data centers - Management highlighted the shift from training to inference workloads, emphasizing the suitability of CPUs for agentic AI tasks due to their power efficiency and low latency [21][22] Question: Impact of SoftBank's potential stock sales - Management confirmed that SoftBank has no interest in selling Arm stock, expressing confidence in the long-term prospects of the company [30] Question: Trends in royalty revenue growth - Management indicated that a potential 20% reduction in smartphone unit volumes could translate to a 1-2% negative impact on total royalties, but growth in cloud AI is expected to offset this [24][25] Question: Data center revenue specifics - Management stated that data center revenue is expected to grow significantly, potentially reaching similar or larger levels than the smartphone business in the next few years [41] Question: CSS adoption and its impact - Management noted that CSS is expected to account for a significant portion of royalty revenue, potentially upwards of 50% in the next few years [55] Question: R&D investment outlook - Management indicated that R&D growth may moderate relative to revenue growth in fiscal 2027, but significant investments will continue [70] Question: AI's impact on chip design - Management emphasized the ongoing need for hardware to support AI workloads, indicating that AI will not replace physical chips but will drive demand for more efficient designs [75][76] Question: Memory technologies and power efficiency - Management acknowledged the importance of exploring various memory technologies, including SRAM, to meet the demands of AI applications [82]

以下文章来源于科创板日报 ，作者张真 科创板日报 . 专注科创板和科技创新，上海报业集团主管主办，界面财联社出品。 最新研究显示，在完整的Agent执行链路中，工具处理相关环节在CPU上消耗的时间占端到端延迟的比例最高可达90.6%。在高并发场景 下，CPU端到端延迟从2.9秒跃升至6.3秒以上。其结果揭示了在大量Agentic场景中，系统吞吐受限的并非GPU计算能力，而是CPU的核心 数并发调度问题。 至于为何CPU负载高于GPU，在东吴证券看来，Agent时代AI由"纯对话"转向了"执行任务"，因此产生大量if/else判断，这种"分支类任 务"倘若由GPU执行，会因控制流发散导致算力利用率急剧下降。与之相比，CPU的微架构却能够适应此类任务。 就在日前，GPU的超级玩家英伟达主动掏出20亿美元追加认购CoreWeave股票，并声称后者将在其平台上部署Vera CPU—— 一款专 为"代理式推理（Agentic Reasoning）"设计，且在大规模AI工厂最具能效优势的CPU。 据悉，因ARM CPU瓶颈，英伟达已计划在下一代 Rubin架构中大幅提升CPU核心数，并开放NVL72机柜对x86CPU的支 ...

AI图片 英伟达正通过重磅布局服务器CPU领域，进一步巩固其在AI基础设施市场的统治地位。 公司CEO黄仁勋确认将推出代号为"Vera"的全新CPU，并首次将其作为独立产品推向市场，旨在消除AI供应链中的算力瓶颈，全面支持代理人工智能（Agentic AI）的发展。 1月26日，据彭博报道，英伟达已承诺向新兴云服务商CoreWeave追加20亿美元投资， CoreWeave将成为首家部署Vera CPU作为独立基础设施选项的客户 。 黄仁勋在接受彭博Ed Ludlow采访时表示， Vera是一款"革命性"的CPU。 分析称，此次合作不仅延续了双方的长期关系，更标志着英伟达在计算堆栈层面的重大战略转折。 报道称，英伟达此举意在解决服务器CPU已成为AI供应链主要瓶颈的问题。 通过提供独立的Vera CPU，英伟达为客户提供了更具成本效益的高端计算替代方 案，使其不仅能在英伟达GPU上运行计算堆栈，也能在英伟达CPU上处理工作负载，这将对现有的服务器处理器市场格局产生直接影响。 据报道，随着Vera CPU技术细节的曝光以及生产计划的推进，英伟达正展示其在"后Blackwell时代"的雄心。 这一战略不仅针对高端 ...

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 1月27日，据报道，英伟达已承诺向新兴云服务商CoreWeave追加20亿美元投资，CoreWeave将成为首家部署Vera CPU作为独立基础设施选项的客户。黄仁 勋在接受彭博Ed Ludlow采访时表示，Vera是一款"革命性"的CPU。分析称，此次合作不仅延续了双方的长期关系，更标志着英伟达在计算堆栈层面的重 大战略转折。 半导体公众号推荐 报道称，英伟达此举意在解决服务器CPU已成为AI供应链主要瓶颈的问题。通过提供独立的Vera CPU，英伟达为客户提供了更具成本效益的高端计算替 代方案，使其不仅能在英伟达GPU上运行计算堆栈，也能在英伟达CPU上处理工作负载，这将对现有的服务器处理器市场格局产生直接影响。 据报道，随着Vera CPU技术细节的曝光以及生产计划的推进，英伟达正展示其在"后Blackwell时代"的雄心。这一战略不仅针对高端机架级解决方案，也开 始向更广泛的通用计算市场渗透，试图构建一个全栈式的计算生态系统。 据报道，在此次战略布局中，CoreWeave扮演了关键角色。作为 ...

英伟达正通过重磅布局服务器CPU领域，进一步巩固其在AI基础设施市场的统治地位。公司CEO黄仁勋 确认将推出代号为"Vera"的全新CPU，并首次将其作为独立产品推向市场，旨在消除AI供应链中的算力 瓶颈，全面支持代理人工智能（Agentic AI）的发展。 1月26日，据彭博报道，英伟达已承诺向新兴云服务商CoreWeave追加20亿美元投资，CoreWeave将成 为首家部署Vera CPU作为独立基础设施选项的客户。黄仁勋在接受彭博Ed Ludlow采访时表示，Vera是 一款"革命性"的CPU。分析称，此次合作不仅延续了双方的长期关系，更标志着英伟达在计算堆栈层 面的重大战略转折。 报道称，英伟达此举意在解决服务器CPU已成为AI供应链主要瓶颈的问题。通过提供独立的Vera CPU，英伟达为客户提供了更具成本效益的高端计算替代方案，使其不仅能在英伟达GPU上运行计算 堆栈，也能在英伟达CPU上处理工作负载，这将对现有的服务器处理器市场格局产生直接影响。 据报道，随着Vera CPU技术细节的曝光以及生产计划的推进，英伟达正展示其在"后Blackwell时代"的雄 心。这一战略不仅针对高端机架级解决方案 ...

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！ 【导读】AI又来利好！ 来源：中国基金报 记者 泰勒 大家好，关注一下AI圈的利好消息，英伟达又出手了。 1月26日晚间，英伟达向CoreWeave追加投资20亿美元，以帮助加快其到2030年新增超过5吉瓦人工智能 计算能力的计划，推动CoreWeave加速建设"AI工厂"，从而在全球范围内推进AI的规模化采用。 此外，英伟达以每股87.20美元的价格购买了CoreWeave的A类普通股。作为合作的一部分，CoreWeave 将成为首批部署英伟达即将推出产品的公司之一，其中包括存储系统以及一款新的中央处理器 （CPU）。英伟达此前已是CoreWeave的投资方，并且曾同意在2032年之前从CoreWeave采购超过60亿 美元的服务。 这笔交易也是英伟达利用其雄厚资源推动更广泛AI产业发展的最新例证。作为全球市值最高的公司之 一，英伟达已承诺向AI公司投入数百亿美元，为使用其产品建设的新基础设施提供资金支持。 消息出来之后，CoreWeave盘前股价直线拉涨9%。 | 收盘价 01/23 16:00:00 (美东) | | 暨 72 2 ...

智通财经APP获悉，英伟达(NVDA.US)向CoreWeave(CRWV.US)公司追加投资20亿美元，以帮助加快其 到2030年新增超过5 GW人工智能计算能力的计划。英伟达周一宣布，已以每股 87.20 美元的价格收购 了CoreWeave的 A 类普通股。作为合作的一部分，CoreWeave 将成为首批部署英伟达即将推出的产品的 公司之一，这些产品包括存储系统和新型中央处理器(CPU)。消息公布后，截至发稿，CoreWeave周一 盘前交易中股价上涨10.38%，至102.63美元。英伟达股价下跌不到1%。 这也是英伟达首次单独销售CPU芯片，将直接挑战英特尔(INTC.US)和AMD(AMD.US)在数据中心处理 器市场的地位。此次宣布的合作将焦点引向英伟达的一项新业务方向。品牌为Vera的CPU产品标志着英 伟达首次以独立形式销售此类芯片。此前，英伟达的CPU仅与其他芯片集成到系统中使用。Vera产品也 可能成为云服务提供商(例如亚马逊的Graviton)使用的内部组件的替代方案。 英伟达投资CoreWeave：加码AI基础设施建设最新的举措 黄仁勋在谈到这款CPU时说："Vera是完全革命性的。 ...

Group 1 - UBS downgraded Amkor Technology (AMKR.US) from "Buy" to "Neutral" while raising the target price from $38 to $55, citing that the recent stock price increase reflects strong expectations for computing capability growth but must weigh costs and risks [1] - Since the low point in April 2025, Amkor's stock price has risen by 250%, but UBS believes the stock price reflects faster growth expectations in computing capability, recovery in smartphone SiP, cyclical mainstream market recovery, and the potential of long-term projects in Arizona [1] - UBS expects strong growth in computing demand for 2026-2027, raising the 2025 sales growth forecast from 5% to 6%, while maintaining growth expectations of 14% and 12% for 2026 and 2027, respectively, which is above market expectations of 9% for both years [2] Group 2 - The growth of mature businesses is moderate, with high growth in computing business balanced by low-profit SiP in consumer electronics, smartphones, and automotive/industrial sectors [3] - UBS anticipates a mild recovery in automotive/industrial business with expected growth of 10% and 5% for 2026 and 2027, respectively, due to normalized inventory post-COVID and Amkor's advantages in ADAS/information entertainment [3] - Investment cycles are extended, and high valuations limit upside potential, with Amkor's $7 billion Arizona wafer fab expected to start production in 2028 and profitability in 2029, leading to negative free cash flow of $1 billion from Q4 2025 to 2028 [4]