BERNSTEIN：英伟达的关税影响

7 April 2025 Stacy A. Rasgon, Ph.D. +1 213 559 5917 stacy.rasgon@bernsteinsg.com Alrick Shaw +1 917 344 8454 alrick.shaw@bernsteinsg.com Arpad von Nemes +1 917 344 8461 arpad.vonnemes@bernsteinsg.com Among the many questions we fielded last week, one of the most frequent involved whether or not NVDA's AI datacenter products would be subject to tariffs. While semiconductors overall have been broadly exempted from reciprocal tariffs, NVDA's products aren't semiconductors but rather primarily hardware, and as ...