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CainLuo
07-01
$英伟达(NVDA)$
前两天的涨幅都是诱骗,肯定还会继续空的,泡泡吹的太大了
CainLuo
06-25
$英伟达(NVDA)$
之前就说过不值得那么高,全都在画大饼,这段时间就体现了,说不定还会跌回80+[贱笑] [贱笑] [贱笑]
CainLuo
06-25
$Tema Space Innovators ETF(NASA)$
继续看空,现在跌破 EMA 200,然后就会跌破发行价,至少未来一两年内不会回到40[冷漠] [冷漠] [冷漠]
CainLuo
06-25
要是真的那么厉害,市场的的积极反应应该会推动股价的上涨,但现在反而跌扑街,那就证明老黄只是在画大饼,然后大鳄们都不想再听这些睡前故事了[贱笑] [贱笑] [贱笑]
黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局
CainLuo
06-25
$英伟达(NVDA)$
到年底之前英伟达都不会有什么大幅度的上升,会跌到在160左右才会迎来下一轮的上升,毕竟它不是真正的AI龙头,各家厂商都在奋力逃脱英伟达的掌控
CainLuo
06-23
$英伟达(NVDA)$
会继续空,大概跌到160左右,前面的泡沫也该被扎破了
CainLuo
06-23
$SpaceX(SPCX)$
目前来讲Space不值得这么高的股价,至少要跌一半左右,看它发的债就知道了,现金流是一个问题,债务是一个问题,什么情况才会拆东墙补西墙?想想就知道了
CainLuo
06-23
$英伟达(NVDA)$
一堆利好,就是涨不上去,叫好不叫座,估计真的泡泡快炸了,空它
CainLuo
06-22
$Rocket Lab USA, Inc.(RKLB)$
厉害了,纳指买入都跌成狗,要是纳指没买入不就更街扑街?
CainLuo
06-18
$Tema Space Innovators ETF(NASA)$
这NASA估计长期都是夜盘和盘前涨,盘中拉一坨大的,要是能涨回去,名字倒过来写了
CainLuo
06-16
$英伟达(NVDA)$
老黄画的大饼,市场不认呢,说不好又是一个庞氏骗局
CainLuo
06-15
$Tema Space Innovators ETF(NASA)$
没救了,这玩意都快归零了
CainLuo
06-10
$纳指100ETF(QQQ)$
大家快跑啊,华尔街要去赌球了,趁机收割一波
CainLuo
06-04
$英伟达(NVDA)$
美股要破碎了,达子暴跌了,大家快跑啊[捂脸] [捂脸] [捂脸]
CainLuo
06-03
达子燃烧了自己,照亮了别人,懂王是带动了整个利益模块,不一样[捂脸] [捂脸] [捂脸]
一句话值600亿美元!美股散户热议:黄仁勋还是特朗普,该跟谁?
CainLuo
05-06
我还是不太信的,毕竟前面负面丑闻太大了,一日没有结束,都是亚历山大
超微电脑第三财季调整后每股收益0.84美元,同比大增超170%
CainLuo
04-23
要破产退市了吗?赶紧做空
据报道,超微电脑失去14亿美元甲骨文合同
CainLuo
03-30
$超微电脑(SMCI)$
感觉SMCI这次是真的死定了,说不定会直接破产归零[喷血] [喷血] [喷血]
CainLuo
03-27
这372亿下去全被黄毛一两句话之间赚走了,所以等于没有投入[捂脸] [捂脸] [捂脸]
停火协议曙光引燃美股“贪婪时刻”!372亿美元巨资入场,创2024年大选以来单周流入新高
CainLuo
03-27
$纳指100ETF(QQQ)$
有没有集体做空的
去老虎APP查看更多动态
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href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 之前就说过不值得那么高,全都在画大饼,这段时间就体现了,说不定还会跌回80+[贱笑] [贱笑] [贱笑] ","listText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 之前就说过不值得那么高,全都在画大饼,这段时间就体现了,说不定还会跌回80+[贱笑] [贱笑] [贱笑] ","text":"$英伟达(NVDA)$ 之前就说过不值得那么高,全都在画大饼,这段时间就体现了,说不定还会跌回80+[贱笑] [贱笑] [贱笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/579030990607280","isVote":1,"tweetType":1,"viewCount":2271,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575106459125717","authorId":"3575106459125717","name":"Thierenenenene","avatar":"https://static.tigerbbs.com/fff49b703e6bf77798925417b3190cbf","crmLevel":4,"crmLevelSwitch":0,"idStr":"3575106459125717","authorIdStr":"3575106459125717"},"content":"nvda大跌只会带来行业内的整体巨跌 没人能跑","text":"nvda大跌只会带来行业内的整体巨跌 没人能跑","html":"nvda大跌只会带来行业内的整体巨跌 没人能跑"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":578956924486224,"gmtCreate":1782356117090,"gmtModify":1782356477976,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NASA\">$Tema Space Innovators ETF(NASA)$</a> 继续看空,现在跌破 EMA 200,然后就会跌破发行价,至少未来一两年内不会回到40[冷漠] [冷漠] [冷漠] ","listText":"<a href=\"https://laohu8.com/S/NASA\">$Tema Space Innovators ETF(NASA)$</a> 继续看空,现在跌破 EMA 200,然后就会跌破发行价,至少未来一两年内不会回到40[冷漠] [冷漠] [冷漠] ","text":"$Tema Space Innovators ETF(NASA)$ 继续看空,现在跌破 EMA 200,然后就会跌破发行价,至少未来一两年内不会回到40[冷漠] [冷漠] [冷漠]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/578956924486224","isVote":1,"tweetType":1,"viewCount":920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":578955906253096,"gmtCreate":1782355857104,"gmtModify":1782356487919,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"要是真的那么厉害,市场的的积极反应应该会推动股价的上涨,但现在反而跌扑街,那就证明老黄只是在画大饼,然后大鳄们都不想再听这些睡前故事了[贱笑] [贱笑] [贱笑] ","listText":"要是真的那么厉害,市场的的积极反应应该会推动股价的上涨,但现在反而跌扑街,那就证明老黄只是在画大饼,然后大鳄们都不想再听这些睡前故事了[贱笑] [贱笑] [贱笑] ","text":"要是真的那么厉害,市场的的积极反应应该会推动股价的上涨,但现在反而跌扑街,那就证明老黄只是在画大饼,然后大鳄们都不想再听这些睡前故事了[贱笑] [贱笑] [贱笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/578955906253096","repostId":"2646844906","repostType":2,"repost":{"id":"2646844906","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1782342067,"share":"https://www.laohu8.com/m/news/2646844906?lang=zh_CN&edition=full","pubTime":"2026-06-25 07:01","market":"sh","language":"zh","title":"黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局","url":"https://stock-news.laohu8.com/highlight/detail?id=2646844906","media":"华尔街见闻","summary":"黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台被认定为“推理之王”,token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一,Vera CPU专为智能体设计;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。","content":"<html><head></head><body><blockquote><p>黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。</p></blockquote><p style=\"text-align: justify;\">美东时间24日周三举行的英伟达年度股东大会上,CEO黄仁勋描绘了一幅雄心勃勃的AI基础设施扩张蓝图。他宣告,智能体(agent)时代正式到来,并将这一轮计算范式转变定性为60年来规模最大的行业重置。从专为智能体设计的全新CPU架构,到大规模芯片走私的警告,黄仁勋此次讲话释出多个不同以往的关键信号。</p><p style=\"text-align: justify;\">智能体AI的商业落地正在成为英伟达新一轮增长的核心逻辑。黄仁勋指出,AI已完成从“有趣”到“有用”的跨越——当AI真正创造经济价值,算力需求便呈现加速扩张之势。他以软件开发为例:GitHub开发者合并的pull request数量从2024年的4亿增至2025年的5亿,而进入2026年头几个月,数量增长近乎三倍。</p><p style=\"text-align: justify;\">在智能体浪潮驱动下,英伟达的国际市场收入超过300亿美元,同比增逾三倍,近40个国家正在部署由英伟达基础设施驱动的AI工厂(AI Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。</p><p style=\"text-align: justify;\">受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。</p><p style=\"text-align: justify;\">虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。</p><h2 id=\"ai\">AI工厂:数据中心的定义正在被改写</h2><p style=\"text-align: justify;\">黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。</p><p style=\"text-align: justify;\">黄仁勋以"五层蛋糕"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。</p><p style=\"text-align: justify;\">黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。</p><p style=\"text-align: justify;\">黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。</p><p style=\"text-align: justify;\">Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。</p><h2 id=\"vera-rubin-cpu\">Vera Rubin:对智能体专属CPU的历史性赌注</h2><p style=\"text-align: justify;\">黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。</p><p style=\"text-align: justify;\">其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。</p><p style=\"text-align: justify;\">黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。</p><p style=\"text-align: justify;\">在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。</p><h2 id=\"cuda\">CUDA被黄仁勋称为英伟达的“皇冠珠宝"</h2><p style=\"text-align: justify;\">黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。</p><p style=\"text-align: justify;\">他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。</p><p style=\"text-align: justify;\">随着智能体时代到来,CUDA X库正从面向人类开发者的工具集转型为智能体的工具箱。黄仁勋在股东大会期间宣布推出BioNeMo,这是一套专为智能体设计的数字生物学与药物发现工具套件,标志着英伟达正将其最核心的软件资产向智能体场景迁移。</p><p style=\"text-align: justify;\">他同时提出英伟达的差异化定位:"垂直整合,水平开放"——全栈自研以实现端到端优化,再向整个行业开放,以支撑更广泛的生态构建。</p><h2 id=\"92c7faa4\">中国市场:H200出口获批,收入仍为零</h2><p style=\"text-align: justify;\">在涉华业务问题上,黄仁勋的表态相当谨慎。他透露,美国政府已批准H200芯片向中国客户出口的许可证,但英伟达迄今尚未产生任何相关收入,且对产品能否顺利进口至中国仍存在不确定性。</p><p style=\"text-align: justify;\">这一表述与此前市场对中国市场收入时间线的预期形成明显落差。黄仁勋未就中国业务的规模前景作出任何预测,也未提及任何具体客户。</p><p style=\"text-align: justify;\">在政策立场上,黄仁勋重申英伟达将积极参与出口管制政策的讨论,理由是实时的产业技术信息有助于政策制定者制定"强有力、均衡"的规则——既保护敏感技术,又维护美国在AI领域的领导地位。他强调,在商业利益与美国国家安全存在冲突时,国家安全优先。</p><h2 id=\"d09a92af\">黄仁勋罕见公开示警芯片走私</h2><p style=\"text-align: justify;\">在回应股东提问时,黄仁勋就英伟达产品流入受限终端用户的风险给出了迄今最为直接的公开回应,并罕见披露了具体应对措施。</p><p style=\"text-align: justify;\">黄仁勋表示,英伟达的合规工作已多次成功拦截企图走私的案例,相关人员面临两地司法起诉的风险。</p><p style=\"text-align: justify;\">黄仁勋强调,走私芯片拼凑数据中心是“死路一条”。因为先进AI数据中心是高度集成的系统,需要可信赖的硬件、软件、网络及持续的技术支持,而英伟达不向受限产品提供任何支持或维修服务,使得依靠走私产品搭建AI基础设施"极其困难"。</p><p style=\"text-align: justify;\">据C报道,芯片走私问题已引发美国立法者和监管机构的持续关注,英伟达此次在股东大会上正面回应这一议题,反映出该议题正日益成为公司需要主动管理的声誉与合规风险。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-25 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。</p></blockquote><p style=\"text-align: justify;\">美东时间24日周三举行的英伟达年度股东大会上,CEO黄仁勋描绘了一幅雄心勃勃的AI基础设施扩张蓝图。他宣告,智能体(agent)时代正式到来,并将这一轮计算范式转变定性为60年来规模最大的行业重置。从专为智能体设计的全新CPU架构,到大规模芯片走私的警告,黄仁勋此次讲话释出多个不同以往的关键信号。</p><p style=\"text-align: justify;\">智能体AI的商业落地正在成为英伟达新一轮增长的核心逻辑。黄仁勋指出,AI已完成从“有趣”到“有用”的跨越——当AI真正创造经济价值,算力需求便呈现加速扩张之势。他以软件开发为例:GitHub开发者合并的pull request数量从2024年的4亿增至2025年的5亿,而进入2026年头几个月,数量增长近乎三倍。</p><p style=\"text-align: justify;\">在智能体浪潮驱动下,英伟达的国际市场收入超过300亿美元,同比增逾三倍,近40个国家正在部署由英伟达基础设施驱动的AI工厂(AI Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。</p><p style=\"text-align: justify;\">受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。</p><p style=\"text-align: justify;\">虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。</p><h2 id=\"ai\">AI工厂:数据中心的定义正在被改写</h2><p style=\"text-align: justify;\">黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。</p><p style=\"text-align: justify;\">黄仁勋以"五层蛋糕"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。</p><p style=\"text-align: justify;\">黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。</p><p style=\"text-align: justify;\">黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。</p><p style=\"text-align: justify;\">Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。</p><h2 id=\"vera-rubin-cpu\">Vera Rubin:对智能体专属CPU的历史性赌注</h2><p style=\"text-align: justify;\">黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。</p><p style=\"text-align: justify;\">其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。</p><p style=\"text-align: justify;\">黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。</p><p style=\"text-align: justify;\">在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。</p><h2 id=\"cuda\">CUDA被黄仁勋称为英伟达的“皇冠珠宝"</h2><p style=\"text-align: justify;\">黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。</p><p style=\"text-align: justify;\">他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。</p><p style=\"text-align: justify;\">随着智能体时代到来,CUDA X库正从面向人类开发者的工具集转型为智能体的工具箱。黄仁勋在股东大会期间宣布推出BioNeMo,这是一套专为智能体设计的数字生物学与药物发现工具套件,标志着英伟达正将其最核心的软件资产向智能体场景迁移。</p><p style=\"text-align: justify;\">他同时提出英伟达的差异化定位:"垂直整合,水平开放"——全栈自研以实现端到端优化,再向整个行业开放,以支撑更广泛的生态构建。</p><h2 id=\"92c7faa4\">中国市场:H200出口获批,收入仍为零</h2><p style=\"text-align: justify;\">在涉华业务问题上,黄仁勋的表态相当谨慎。他透露,美国政府已批准H200芯片向中国客户出口的许可证,但英伟达迄今尚未产生任何相关收入,且对产品能否顺利进口至中国仍存在不确定性。</p><p style=\"text-align: justify;\">这一表述与此前市场对中国市场收入时间线的预期形成明显落差。黄仁勋未就中国业务的规模前景作出任何预测,也未提及任何具体客户。</p><p style=\"text-align: justify;\">在政策立场上,黄仁勋重申英伟达将积极参与出口管制政策的讨论,理由是实时的产业技术信息有助于政策制定者制定"强有力、均衡"的规则——既保护敏感技术,又维护美国在AI领域的领导地位。他强调,在商业利益与美国国家安全存在冲突时,国家安全优先。</p><h2 id=\"d09a92af\">黄仁勋罕见公开示警芯片走私</h2><p style=\"text-align: justify;\">在回应股东提问时,黄仁勋就英伟达产品流入受限终端用户的风险给出了迄今最为直接的公开回应,并罕见披露了具体应对措施。</p><p style=\"text-align: justify;\">黄仁勋表示,英伟达的合规工作已多次成功拦截企图走私的案例,相关人员面临两地司法起诉的风险。</p><p style=\"text-align: justify;\">黄仁勋强调,走私芯片拼凑数据中心是“死路一条”。因为先进AI数据中心是高度集成的系统,需要可信赖的硬件、软件、网络及持续的技术支持,而英伟达不向受限产品提供任何支持或维修服务,使得依靠走私产品搭建AI基础设施"极其困难"。</p><p style=\"text-align: justify;\">据C报道,芯片走私问题已引发美国立法者和监管机构的持续关注,英伟达此次在股东大会上正面回应这一议题,反映出该议题正日益成为公司需要主动管理的声誉与合规风险。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f51e0887617e5ccdb1f56ab9d6b7e088","relate_stocks":{"IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 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Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。AI工厂:数据中心的定义正在被改写黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。黄仁勋以\"五层蛋糕\"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。Vera Rubin:对智能体专属CPU的历史性赌注黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。CUDA被黄仁勋称为英伟达的“皇冠珠宝\"黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。随着智能体时代到来,CUDA 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08:56","market":"us","language":"zh","title":"一句话值600亿美元!美股散户热议:黄仁勋还是特朗普,该跟谁?","url":"https://stock-news.laohu8.com/highlight/detail?id=1106366111","media":"华尔街见闻","summary":"英伟达CEO黄仁勋一句\"Marvell将成万亿市值公司\",引发该股单日暴涨32%,凭空制造超600亿美元市值。英伟达CEO一句话,凭空制造600亿美元市值。美国总统特朗普近期多次公开称赞其个人持仓的股票,同样引发市场强烈反应,并带来更深层的公平性质疑。上月底,特朗普公开称赞芯片制造商美光科技,而他本人持有该公司股票。值得注意的是,美光股价在此之前的两个月里已翻倍,而那段时间恰好与特朗普在第一季度大量买入该股高度重合。","content":"<html><head></head><body><blockquote><p>英伟达CEO黄仁勋一句"Marvell将成万亿市值公司",引发该股单日暴涨32%,凭空制造超600亿美元市值。类似"名人效应"在特朗普身上更具争议,他多次公开称赞自己持仓的美光、戴尔等股票,散户被迫高位接盘。机构早已习惯追踪高层表态抢先布局,普通投资者却只能后知后觉。</p></blockquote><p style=\"text-align: justify;\">英伟达CEO一句话,凭空制造600亿美元市值。但当市场越来越习惯跟着名人表态炒股,散户的愤怒与困惑正在Reddit论坛蔓延。</p><p style=\"text-align: justify;\">华尔街见闻提及,周二在Computex上,英伟达CEO黄仁勋公开表示,芯片制造商Marvell注定会成为万亿美元市值的公司。</p><p style=\"text-align: justify;\">这句话随即在当天引爆美股市场,Marvell股价单日飙升逾32%,创下三年来最大单日涨幅,市值从周一约1920亿美元跃升至逾2540亿美元,一句话凭空制造超600亿美元财富。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2dd80f6146cfba46f6dfbe3ad5ca0be8\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">普通投资者或许对Marvell Technology的资产负债表、现金流或市盈率毫无概念,甚至从未听说过这家公司。</p><p style=\"text-align: justify;\">但如果有人提前得知,Marvell CEO Matt Murphy将登上与黄仁勋同台的舞台,后者执掌的英伟达是全球市值最高的公司,也是当前AI浪潮的核心象征。</p><p style=\"text-align: justify;\"><strong>那么仅凭"两人将互相说好话"的预期,便足以构成买入理由。</strong>此前数月Marvell早已累涨158%。</p><p style=\"text-align: justify;\">分析人士指出,在当前这个"股票几乎从不下跌"的亢奋市场环境中,推动股价上涨的往往是随口的表态、模糊的预期,乃至投机情绪本身。</p><h2 id=\"reddit\">Reddit散户的愤怒:规则公平吗?</h2><p style=\"text-align: justify;\">Marvell的暴涨在散户聚集的Reddit论坛r/wallstreetbets上掀起轩然大波。</p><p style=\"text-align: justify;\">"这市场太疯狂了"、"这不公平"等评论大量涌现,核心不满在于黄仁勋只是说了一句话,便在瞬间创造了数百亿美元财富,而普通投资者既没有信息优势,也无法提前布局。</p><p style=\"text-align: justify;\">同一论坛的部分交易者此前曾押注,会有不知情的散户将Virgin Galactic(股票代码:SPCE)误当SpaceX(未来代码:SPCX)买入,并从中获利。</p><p style=\"text-align: justify;\">这种利用信息不对称套利的行为,被部分市场观察人士视为当前市场生态的缩影。</p><p style=\"text-align: justify;\">而当"名人效应"的主角换成美国总统时,这种信任危机的烈度便成倍放大。</p><h2 id=\"4170243d\">特朗普的操作更引争议:自买自夸,散户接盘?</h2><p style=\"text-align: justify;\">类似的"名人效应"并不只出现在科技圈。美国总统特朗普近期多次公开称赞其个人持仓的股票,同样引发市场强烈反应,并带来更深层的公平性质疑。</p><p style=\"text-align: justify;\">上月底,特朗普公开称赞芯片制造商美光科技,而他本人持有该公司股票。受此影响,美光股价在一周多时间内上涨超25%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8baaaaacad96d3bb365015bf3c07122e\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">值得注意的是,美光股价在此之前的两个月里已翻倍,而那段时间恰好与特朗普在第一季度大量买入该股高度重合。</p><p style=\"text-align: justify;\">对于希望等待更好介入时机的普通投资者而言,在特朗普发声之后再入场,代价已大幅提升。</p><p style=\"text-align: justify;\">更早之前,特朗普还曾多次公开推荐戴尔科技,彼时他已持有价值数百万美元的戴尔股票。</p><p style=\"text-align: justify;\">今年2月他首次喊话"去买台戴尔电脑",市场反应平平;但5月8日的第二次公开表态令戴尔股价单日跳涨13%,创下历史新高。</p><p style=\"text-align: justify;\">此后,戴尔股价又进一步上涨约72%,部分原因在于该公司在特朗普"喊单"数周后拿下一笔价值97亿美元的五角大楼合同。</p><h2 id=\"id_1516947887\">华尔街已学会"跟单",散户的游戏规则正在改变</h2><p style=\"text-align: justify;\">上述事件的核心矛盾,在于普通投资者与掌握信息优势者之间日益扩大的不对称鸿沟。</p><p style=\"text-align: justify;\">机构和专业投资者早已养成密切追踪"高层表态"的习惯,而散户往往只能在行情启动后才后知后觉地介入,面临更高的成本与更大的不确定性。</p><p style=\"text-align: justify;\">这一系列事件在社交媒体上激起共鸣。有X平台用户调侃道:</p><blockquote><p style=\"text-align: justify;\">我就在这守着,等黄仁勋或者特朗普哪天提到某只股票。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3e845d3872a06d3659cf418fba467e2\" tg-width=\"900\" tg-height=\"680\"/></p></blockquote><p style=\"text-align: justify;\">这句半是玩笑半是无奈的话,折射出普通投资者在名人效应驱动的市场中日益被动的处境。</p><p style=\"text-align: justify;\">正如彭博专栏作者Mark Gongloff所指出的,普通投资者每天都在阅读有关AI泡沫随时可能破裂的报道,而"名人喊单"现象只会加剧他们对市场的不信任感。</p><p style=\"text-align: justify;\">当美国总统本人也是"喊单者"之一,且同时是受益者时,这一问题的严肃性便更上一层。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>一句话值600亿美元!美股散户热议:黄仁勋还是特朗普,该跟谁?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ 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padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n一句话值600亿美元!美股散户热议:黄仁勋还是特朗普,该跟谁?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-03 08:56</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>英伟达CEO黄仁勋一句"Marvell将成万亿市值公司",引发该股单日暴涨32%,凭空制造超600亿美元市值。类似"名人效应"在特朗普身上更具争议,他多次公开称赞自己持仓的美光、戴尔等股票,散户被迫高位接盘。机构早已习惯追踪高层表态抢先布局,普通投资者却只能后知后觉。</p></blockquote><p style=\"text-align: justify;\">英伟达CEO一句话,凭空制造600亿美元市值。但当市场越来越习惯跟着名人表态炒股,散户的愤怒与困惑正在Reddit论坛蔓延。</p><p style=\"text-align: justify;\">华尔街见闻提及,周二在Computex上,英伟达CEO黄仁勋公开表示,芯片制造商Marvell注定会成为万亿美元市值的公司。</p><p style=\"text-align: justify;\">这句话随即在当天引爆美股市场,Marvell股价单日飙升逾32%,创下三年来最大单日涨幅,市值从周一约1920亿美元跃升至逾2540亿美元,一句话凭空制造超600亿美元财富。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2dd80f6146cfba46f6dfbe3ad5ca0be8\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">普通投资者或许对Marvell Technology的资产负债表、现金流或市盈率毫无概念,甚至从未听说过这家公司。</p><p style=\"text-align: justify;\">但如果有人提前得知,Marvell CEO Matt Murphy将登上与黄仁勋同台的舞台,后者执掌的英伟达是全球市值最高的公司,也是当前AI浪潮的核心象征。</p><p style=\"text-align: justify;\"><strong>那么仅凭"两人将互相说好话"的预期,便足以构成买入理由。</strong>此前数月Marvell早已累涨158%。</p><p style=\"text-align: justify;\">分析人士指出,在当前这个"股票几乎从不下跌"的亢奋市场环境中,推动股价上涨的往往是随口的表态、模糊的预期,乃至投机情绪本身。</p><h2 id=\"reddit\">Reddit散户的愤怒:规则公平吗?</h2><p style=\"text-align: justify;\">Marvell的暴涨在散户聚集的Reddit论坛r/wallstreetbets上掀起轩然大波。</p><p style=\"text-align: justify;\">"这市场太疯狂了"、"这不公平"等评论大量涌现,核心不满在于黄仁勋只是说了一句话,便在瞬间创造了数百亿美元财富,而普通投资者既没有信息优势,也无法提前布局。</p><p style=\"text-align: justify;\">同一论坛的部分交易者此前曾押注,会有不知情的散户将Virgin Galactic(股票代码:SPCE)误当SpaceX(未来代码:SPCX)买入,并从中获利。</p><p style=\"text-align: justify;\">这种利用信息不对称套利的行为,被部分市场观察人士视为当前市场生态的缩影。</p><p style=\"text-align: justify;\">而当"名人效应"的主角换成美国总统时,这种信任危机的烈度便成倍放大。</p><h2 id=\"4170243d\">特朗普的操作更引争议:自买自夸,散户接盘?</h2><p style=\"text-align: justify;\">类似的"名人效应"并不只出现在科技圈。美国总统特朗普近期多次公开称赞其个人持仓的股票,同样引发市场强烈反应,并带来更深层的公平性质疑。</p><p style=\"text-align: justify;\">上月底,特朗普公开称赞芯片制造商美光科技,而他本人持有该公司股票。受此影响,美光股价在一周多时间内上涨超25%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8baaaaacad96d3bb365015bf3c07122e\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">值得注意的是,美光股价在此之前的两个月里已翻倍,而那段时间恰好与特朗普在第一季度大量买入该股高度重合。</p><p style=\"text-align: justify;\">对于希望等待更好介入时机的普通投资者而言,在特朗普发声之后再入场,代价已大幅提升。</p><p style=\"text-align: justify;\">更早之前,特朗普还曾多次公开推荐戴尔科技,彼时他已持有价值数百万美元的戴尔股票。</p><p style=\"text-align: justify;\">今年2月他首次喊话"去买台戴尔电脑",市场反应平平;但5月8日的第二次公开表态令戴尔股价单日跳涨13%,创下历史新高。</p><p style=\"text-align: justify;\">此后,戴尔股价又进一步上涨约72%,部分原因在于该公司在特朗普"喊单"数周后拿下一笔价值97亿美元的五角大楼合同。</p><h2 id=\"id_1516947887\">华尔街已学会"跟单",散户的游戏规则正在改变</h2><p style=\"text-align: justify;\">上述事件的核心矛盾,在于普通投资者与掌握信息优势者之间日益扩大的不对称鸿沟。</p><p style=\"text-align: justify;\">机构和专业投资者早已养成密切追踪"高层表态"的习惯,而散户往往只能在行情启动后才后知后觉地介入,面临更高的成本与更大的不确定性。</p><p style=\"text-align: justify;\">这一系列事件在社交媒体上激起共鸣。有X平台用户调侃道:</p><blockquote><p style=\"text-align: justify;\">我就在这守着,等黄仁勋或者特朗普哪天提到某只股票。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3e845d3872a06d3659cf418fba467e2\" tg-width=\"900\" tg-height=\"680\"/></p></blockquote><p style=\"text-align: justify;\">这句半是玩笑半是无奈的话,折射出普通投资者在名人效应驱动的市场中日益被动的处境。</p><p style=\"text-align: justify;\">正如彭博专栏作者Mark Gongloff所指出的,普通投资者每天都在阅读有关AI泡沫随时可能破裂的报道,而"名人喊单"现象只会加剧他们对市场的不信任感。</p><p style=\"text-align: justify;\">当美国总统本人也是"喊单者"之一,且同时是受益者时,这一问题的严肃性便更上一层。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{"MUU":"2倍做多MU ETF-Direxion","MRVU":"Direxion Daily MRVL Bull 2X ETF","MVLL":"2倍做多MRVL ETF-GraniteShares","MUD":"1倍做空MU ETF-Direxion","MRVL":"迈威尔科技","MULL":"2倍做多MU ETF-GraniteShares","MU":"美光科技"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106366111","content_text":"英伟达CEO黄仁勋一句\"Marvell将成万亿市值公司\",引发该股单日暴涨32%,凭空制造超600亿美元市值。类似\"名人效应\"在特朗普身上更具争议,他多次公开称赞自己持仓的美光、戴尔等股票,散户被迫高位接盘。机构早已习惯追踪高层表态抢先布局,普通投资者却只能后知后觉。英伟达CEO一句话,凭空制造600亿美元市值。但当市场越来越习惯跟着名人表态炒股,散户的愤怒与困惑正在Reddit论坛蔓延。华尔街见闻提及,周二在Computex上,英伟达CEO黄仁勋公开表示,芯片制造商Marvell注定会成为万亿美元市值的公司。这句话随即在当天引爆美股市场,Marvell股价单日飙升逾32%,创下三年来最大单日涨幅,市值从周一约1920亿美元跃升至逾2540亿美元,一句话凭空制造超600亿美元财富。普通投资者或许对Marvell Technology的资产负债表、现金流或市盈率毫无概念,甚至从未听说过这家公司。但如果有人提前得知,Marvell CEO Matt Murphy将登上与黄仁勋同台的舞台,后者执掌的英伟达是全球市值最高的公司,也是当前AI浪潮的核心象征。那么仅凭\"两人将互相说好话\"的预期,便足以构成买入理由。此前数月Marvell早已累涨158%。分析人士指出,在当前这个\"股票几乎从不下跌\"的亢奋市场环境中,推动股价上涨的往往是随口的表态、模糊的预期,乃至投机情绪本身。Reddit散户的愤怒:规则公平吗?Marvell的暴涨在散户聚集的Reddit论坛r/wallstreetbets上掀起轩然大波。\"这市场太疯狂了\"、\"这不公平\"等评论大量涌现,核心不满在于黄仁勋只是说了一句话,便在瞬间创造了数百亿美元财富,而普通投资者既没有信息优势,也无法提前布局。同一论坛的部分交易者此前曾押注,会有不知情的散户将Virgin Galactic(股票代码:SPCE)误当SpaceX(未来代码:SPCX)买入,并从中获利。这种利用信息不对称套利的行为,被部分市场观察人士视为当前市场生态的缩影。而当\"名人效应\"的主角换成美国总统时,这种信任危机的烈度便成倍放大。特朗普的操作更引争议:自买自夸,散户接盘?类似的\"名人效应\"并不只出现在科技圈。美国总统特朗普近期多次公开称赞其个人持仓的股票,同样引发市场强烈反应,并带来更深层的公平性质疑。上月底,特朗普公开称赞芯片制造商美光科技,而他本人持有该公司股票。受此影响,美光股价在一周多时间内上涨超25%。值得注意的是,美光股价在此之前的两个月里已翻倍,而那段时间恰好与特朗普在第一季度大量买入该股高度重合。对于希望等待更好介入时机的普通投资者而言,在特朗普发声之后再入场,代价已大幅提升。更早之前,特朗普还曾多次公开推荐戴尔科技,彼时他已持有价值数百万美元的戴尔股票。今年2月他首次喊话\"去买台戴尔电脑\",市场反应平平;但5月8日的第二次公开表态令戴尔股价单日跳涨13%,创下历史新高。此后,戴尔股价又进一步上涨约72%,部分原因在于该公司在特朗普\"喊单\"数周后拿下一笔价值97亿美元的五角大楼合同。华尔街已学会\"跟单\",散户的游戏规则正在改变上述事件的核心矛盾,在于普通投资者与掌握信息优势者之间日益扩大的不对称鸿沟。机构和专业投资者早已养成密切追踪\"高层表态\"的习惯,而散户往往只能在行情启动后才后知后觉地介入,面临更高的成本与更大的不确定性。这一系列事件在社交媒体上激起共鸣。有X平台用户调侃道:我就在这守着,等黄仁勋或者特朗普哪天提到某只股票。这句半是玩笑半是无奈的话,折射出普通投资者在名人效应驱动的市场中日益被动的处境。正如彭博专栏作者Mark Gongloff所指出的,普通投资者每天都在阅读有关AI泡沫随时可能破裂的报道,而\"名人喊单\"现象只会加剧他们对市场的不信任感。当美国总统本人也是\"喊单者\"之一,且同时是受益者时,这一问题的严肃性便更上一层。","news_type":1,"symbols_score_info":{"MUU":0.6,"MULL":0.6,"MRVU":0.6,"MVLL":0.6,"MUD":0.6,"MU":2,"MRVL":2}},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":561237116654712,"gmtCreate":1778052563711,"gmtModify":1778052566165,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"我还是不太信的,毕竟前面负面丑闻太大了,一日没有结束,都是亚历山大","listText":"我还是不太信的,毕竟前面负面丑闻太大了,一日没有结束,都是亚历山大","text":"我还是不太信的,毕竟前面负面丑闻太大了,一日没有结束,都是亚历山大","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/561237116654712","repostId":"2633296569","repostType":2,"repost":{"id":"2633296569","kind":"live","pubTimestamp":1778012325,"share":"https://www.laohu8.com/m/news/2633296569?lang=zh_CN&edition=full","pubTime":"2026-05-06 04:18","market":"us","language":"zh","title":"超微电脑第三财季调整后每股收益0.84美元,同比大增超170%","url":"https://stock-news.laohu8.com/highlight/detail?id=2633296569","media":"智通财经","summary":"超微电脑2026财年第三财季销售额102亿美元,上一财年同期为46亿美元;调整后每股收益 0.84 美元,高出分析师一致预期的0.62美元,较去年同期的每股收益 0.31 美元同比大增 170.97%","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SMCI\">超微电脑</a>2026财年第三财季销售额102亿美元,上一财年同期为46亿美元;调整后每股收益 0.84 美元,高出分析师一致预期的0.62美元,较去年同期的每股收益 0.31 美元同比大增 170.97%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8c0d0054b51ac6402f90c28699d28b70\" title=\"\" tg-width=\"1187\" tg-height=\"476\"/></p><h2 id=\"id_3941912607\">展望</h2><p>公司预计2026财年第四季度(截至2026年6月30日)净销售额将在110亿美元至125亿美元之间,GAAP摊薄后每股净收益为0.53美元至0.67美元,非GAAP摊薄后每股净收益为0.65美元至0.79美元。</p><p>公司对GAAP和非GAAP摊薄后每股净收益的预测分别基于约19.4%和20.4%的税率,以及GAAP摊薄后股份总数为6.95亿股、非GAAP摊薄后股份总数为7.12亿股的假设。</p><p>据悉,部分客户因电力配置、冷却系统等基础设施未能如期就位,导致服务器交付时间表被迫调整。公司管理层指出,相关订单并未取消,只是交付周期需要顺延至下个财季。目前超微电脑正与客户紧密合作,加速场地验收流程,确保设备到位后能快速完成部署。</p><p style=\"text-align: start;\">首席执行官特别说明,人工智能服务器需求依然强劲,积压订单规模持续扩大。此次营收确认的延迟仅涉及时间节点问题,对全年业绩指引维持不变。公司预计第四财季将迎来显著反弹,届时延迟交付的订单将集中确认收入。</p><p>超微电脑盘后股价大涨超17%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c267901789dfb3b672861e76a0350608\" title=\"\" tg-width=\"540\" tg-height=\"165\"/></p></body></html>","source":"live_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>超微电脑第三财季调整后每股收益0.84美元,同比大增超170%</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n超微电脑第三财季调整后每股收益0.84美元,同比大增超170%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-06 04:18 北京时间 <a href=https://www.zhitongcaijing.com/immediately.html?type=usstock><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>超微电脑2026财年第三财季销售额102亿美元,上一财年同期为46亿美元;调整后每股收益 0.84 美元,高出分析师一致预期的0.62美元,较去年同期的每股收益 0.31 美元同比大增 170.97%。展望公司预计2026财年第四季度(截至2026年6月30日)净销售额将在110亿美元至125亿美元之间,GAAP摊薄后每股净收益为0.53美元至0.67美元,非GAAP摊薄后每股净收益为0.65美元...</p>\n\n<a href=\"https://www.zhitongcaijing.com/immediately.html?type=usstock\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/dfec884e715459d0d0ac8c334542a665","relate_stocks":{"SMCX":"2倍做多SMCI ETF-Defiance","FTXL":"First Trust Nasdaq Semiconductor ETF","SMCI":"超微电脑","SMYY":"GraniteShares YieldBOOST SMCI ETF","CHPS":"XTRACKERS SEMICONDUCTOR SELECT EQUITY ETF","SMCY":"SMCI期权收益策略ETF-YieldMax","SMCL":"2倍做多SMCI ETF-Graniteshares","SMCZ":"2倍做空SMCI ETF-Defiance","SMCC":"2倍做多SMCI ETF-Corgi"},"source_url":"https://www.zhitongcaijing.com/immediately.html?type=usstock","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2633296569","content_text":"超微电脑2026财年第三财季销售额102亿美元,上一财年同期为46亿美元;调整后每股收益 0.84 美元,高出分析师一致预期的0.62美元,较去年同期的每股收益 0.31 美元同比大增 170.97%。展望公司预计2026财年第四季度(截至2026年6月30日)净销售额将在110亿美元至125亿美元之间,GAAP摊薄后每股净收益为0.53美元至0.67美元,非GAAP摊薄后每股净收益为0.65美元至0.79美元。公司对GAAP和非GAAP摊薄后每股净收益的预测分别基于约19.4%和20.4%的税率,以及GAAP摊薄后股份总数为6.95亿股、非GAAP摊薄后股份总数为7.12亿股的假设。据悉,部分客户因电力配置、冷却系统等基础设施未能如期就位,导致服务器交付时间表被迫调整。公司管理层指出,相关订单并未取消,只是交付周期需要顺延至下个财季。目前超微电脑正与客户紧密合作,加速场地验收流程,确保设备到位后能快速完成部署。首席执行官特别说明,人工智能服务器需求依然强劲,积压订单规模持续扩大。此次营收确认的延迟仅涉及时间节点问题,对全年业绩指引维持不变。公司预计第四财季将迎来显著反弹,届时延迟交付的订单将集中确认收入。超微电脑盘后股价大涨超17%。","news_type":1,"symbols_score_info":{"CHPS":1.1,"FTXL":1.1,"SMCL":0.6,"SMCX":0.6,"SMCC":0.6,"SMCI":2,"SMCY":0.6,"SMCZ":0.6,"SMYY":0.6}},"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":556699625588608,"gmtCreate":1776941571408,"gmtModify":1776941574232,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"要破产退市了吗?赶紧做空","listText":"要破产退市了吗?赶紧做空","text":"要破产退市了吗?赶紧做空","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/556699625588608","repostId":"1155288915","repostType":2,"repost":{"id":"1155288915","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1776941224,"share":"https://www.laohu8.com/m/news/1155288915?lang=zh_CN&edition=full","pubTime":"2026-04-23 18:47","market":"us","language":"zh","title":"据报道,超微电脑失去14亿美元甲骨文合同","url":"https://stock-news.laohu8.com/highlight/detail?id=1155288915","media":"老虎资讯综合","summary":"4月23日,超微电脑盘前持续走弱,现大跌近12%。","content":"<html><head></head><body><p>4月23日,超微电脑盘前持续走弱,现大跌近12%。据报道,此前有消息称超微电脑失去了甲骨文一份涉及英伟达GB300 NVL72机架的重大合同。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3643dccaedafa3513433ac881c9a1a9\" title=\"\" tg-width=\"866\" tg-height=\"728\"/></p><p>根据Bluefin研究公司的报告,甲骨文取消了向超微电脑采购的300至400个机架订单,每个机架价值约350万美元,这意味着合同总损失高达11亿至14亿美元。该公司估计,在订单取消前,超微电脑已发运了100至200个机架。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>据报道,超微电脑失去14亿美元甲骨文合同</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n据报道,超微电脑失去14亿美元甲骨文合同\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-04-23 18:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>4月23日,超微电脑盘前持续走弱,现大跌近12%。据报道,此前有消息称超微电脑失去了甲骨文一份涉及英伟达GB300 NVL72机架的重大合同。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3643dccaedafa3513433ac881c9a1a9\" title=\"\" tg-width=\"866\" tg-height=\"728\"/></p><p>根据Bluefin研究公司的报告,甲骨文取消了向超微电脑采购的300至400个机架订单,每个机架价值约350万美元,这意味着合同总损失高达11亿至14亿美元。该公司估计,在订单取消前,超微电脑已发运了100至200个机架。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"SMCI":"超微电脑"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155288915","content_text":"4月23日,超微电脑盘前持续走弱,现大跌近12%。据报道,此前有消息称超微电脑失去了甲骨文一份涉及英伟达GB300 NVL72机架的重大合同。根据Bluefin研究公司的报告,甲骨文取消了向超微电脑采购的300至400个机架订单,每个机架价值约350万美元,这意味着合同总损失高达11亿至14亿美元。该公司估计,在订单取消前,超微电脑已发运了100至200个机架。","news_type":1,"symbols_score_info":{"SMCI":1}},"isVote":1,"tweetType":1,"viewCount":510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":548269185136752,"gmtCreate":1774878341540,"gmtModify":1774878343471,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/SMCI\">$超微电脑(SMCI)$ </a><v-v data-views=\"0\"></v-v> 感觉SMCI这次是真的死定了,说不定会直接破产归零[喷血] [喷血] [喷血] ","listText":"<a href=\"https://laohu8.com/S/SMCI\">$超微电脑(SMCI)$ </a><v-v data-views=\"0\"></v-v> 感觉SMCI这次是真的死定了,说不定会直接破产归零[喷血] [喷血] [喷血] ","text":"$超微电脑(SMCI)$ 感觉SMCI这次是真的死定了,说不定会直接破产归零[喷血] [喷血] [喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/548269185136752","isVote":1,"tweetType":1,"viewCount":1377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":547207679571744,"gmtCreate":1774619178478,"gmtModify":1774619181241,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"这372亿下去全被黄毛一两句话之间赚走了,所以等于没有投入[捂脸] [捂脸] [捂脸] ","listText":"这372亿下去全被黄毛一两句话之间赚走了,所以等于没有投入[捂脸] [捂脸] [捂脸] ","text":"这372亿下去全被黄毛一两句话之间赚走了,所以等于没有投入[捂脸] [捂脸] [捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/547207679571744","repostId":"2622826704","repostType":2,"repost":{"id":"2622826704","kind":"news","pubTimestamp":1774614616,"share":"https://www.laohu8.com/m/news/2622826704?lang=zh_CN&edition=full","pubTime":"2026-03-27 20:30","market":"us","language":"zh","title":"停火协议曙光引燃美股“贪婪时刻”!372亿美元巨资入场,创2024年大选以来单周流入新高","url":"https://stock-news.laohu8.com/highlight/detail?id=2622826704","media":"智通财经","summary":"$伦敦证券交易所$集团的数据显示,投资者向美国股票基金净投入了 372.4 亿美元,这是自 2024 年 11 月中旬以来最大的单周资金流入,打破了连续三周的净卖出态势。美国行业基金录得 29 亿美元的净流出,为 12 月 24 日以来最大的单周撤资规模。中短期政府及国债基金获得了 90.7 亿美元的净流入,这是至少自 2024 年 5 月以来最大的单周买入规模。","content":"<html><head></head><body><p>在截至 3 月 25 日的一周内,由于美国总统特朗普推迟了对伊朗能源基础设施的袭击并提出了一项结束战争的协议,中东局势降温的希望提振了市场情绪,美国股票基金吸引了强劲的资金流入。</p><p><a href=\"https://laohu8.com/S/LSE.UK\">伦敦证券交易所</a>集团的数据显示,投资者向美国股票基金净投入了 372.4 亿美元,这是自 2024 年 11 月中旬以来最大的单周资金流入,打破了连续三周的净卖出态势。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b705e2967ea1beb23a865884e86f1204\" tg-width=\"1340\" tg-height=\"711\"/></p><p>然而,由于伊朗继续否认与美国进行任何谈判,加深了市场对这场持续近一个月的冲突能否迅速解决的怀疑,以科技股为主的纳斯达克综合指数在周四下跌了超过 2%。</p><p>投资者七周以来首次买入美国大盘股基金,净增加 450.7 亿美元。中盘股和小盘股基金则分别出现了 21.5 亿美元和 12.4 亿美元的净流出。</p><p>美国行业基金录得 29 亿美元的净流出,为 12 月 24 日以来最大的单周撤资规模。其中,投资者从科技行业净撤出 14.5 亿美元,从黄金及贵金属行业撤出 9.74 亿美元,从医疗保健行业撤出 5.07 亿美元。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/30b67ac365c2b81669b0c3396611120f\" tg-width=\"1335\" tg-height=\"810\"/></p><p>美国债券基金吸引了 75.6 亿美元的净流入,较前一周增加的 120.5 亿美元减少了近三分之一。</p><p>中短期投资级基金吸引了 20.3 亿美元的净流入,为三周以来的最低水平;而通用国内应税固定收益基金则出现了 11.1 亿美元的净流出。</p><p>中短期政府及国债基金获得了 90.7 亿美元的净流入,这是至少自 2024 年 5 月以来最大的单周买入规模。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccd66689ba92fb35977b4f22153e341d\" tg-width=\"1341\" tg-height=\"846\"/></p><p>货币市场基金出现了 579.6 亿美元的净撤资,投资者结束了连续五周的净买入趋势。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>停火协议曙光引燃美股“贪婪时刻”!372亿美元巨资入场,创2024年大选以来单周流入新高</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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class=\"title\">\n停火协议曙光引燃美股“贪婪时刻”!372亿美元巨资入场,创2024年大选以来单周流入新高\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-27 20:30 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/1420753.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>在截至 3 月 25 日的一周内,由于美国总统特朗普推迟了对伊朗能源基础设施的袭击并提出了一项结束战争的协议,中东局势降温的希望提振了市场情绪,美国股票基金吸引了强劲的资金流入。伦敦证券交易所集团的数据显示,投资者向美国股票基金净投入了 372.4 亿美元,这是自 2024 年 11 月中旬以来最大的单周资金流入,打破了连续三周的净卖出态势。然而,由于伊朗继续否认与美国进行任何谈判,加深了市场对...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1420753.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"http://www.zhitongcaijing.com/content/detail/1420753.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2622826704","content_text":"在截至 3 月 25 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[贱笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/578955906253096","repostId":"2646844906","repostType":2,"repost":{"id":"2646844906","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1782342067,"share":"https://www.laohu8.com/m/news/2646844906?lang=zh_CN&edition=full","pubTime":"2026-06-25 07:01","market":"sh","language":"zh","title":"黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局","url":"https://stock-news.laohu8.com/highlight/detail?id=2646844906","media":"华尔街见闻","summary":"黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台被认定为“推理之王”,token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一,Vera CPU专为智能体设计;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。","content":"<html><head></head><body><blockquote><p>黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。</p></blockquote><p style=\"text-align: justify;\">美东时间24日周三举行的英伟达年度股东大会上,CEO黄仁勋描绘了一幅雄心勃勃的AI基础设施扩张蓝图。他宣告,智能体(agent)时代正式到来,并将这一轮计算范式转变定性为60年来规模最大的行业重置。从专为智能体设计的全新CPU架构,到大规模芯片走私的警告,黄仁勋此次讲话释出多个不同以往的关键信号。</p><p style=\"text-align: justify;\">智能体AI的商业落地正在成为英伟达新一轮增长的核心逻辑。黄仁勋指出,AI已完成从“有趣”到“有用”的跨越——当AI真正创造经济价值,算力需求便呈现加速扩张之势。他以软件开发为例:GitHub开发者合并的pull request数量从2024年的4亿增至2025年的5亿,而进入2026年头几个月,数量增长近乎三倍。</p><p style=\"text-align: justify;\">在智能体浪潮驱动下,英伟达的国际市场收入超过300亿美元,同比增逾三倍,近40个国家正在部署由英伟达基础设施驱动的AI工厂(AI Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。</p><p style=\"text-align: justify;\">受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。</p><p style=\"text-align: justify;\">虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。</p><h2 id=\"ai\">AI工厂:数据中心的定义正在被改写</h2><p style=\"text-align: justify;\">黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。</p><p style=\"text-align: justify;\">黄仁勋以"五层蛋糕"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。</p><p style=\"text-align: justify;\">黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。</p><p style=\"text-align: justify;\">黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。</p><p style=\"text-align: justify;\">Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。</p><h2 id=\"vera-rubin-cpu\">Vera Rubin:对智能体专属CPU的历史性赌注</h2><p style=\"text-align: justify;\">黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。</p><p style=\"text-align: justify;\">其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。</p><p style=\"text-align: justify;\">黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。</p><p style=\"text-align: justify;\">在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。</p><h2 id=\"cuda\">CUDA被黄仁勋称为英伟达的“皇冠珠宝"</h2><p style=\"text-align: justify;\">黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。</p><p style=\"text-align: justify;\">他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。</p><p style=\"text-align: justify;\">随着智能体时代到来,CUDA X库正从面向人类开发者的工具集转型为智能体的工具箱。黄仁勋在股东大会期间宣布推出BioNeMo,这是一套专为智能体设计的数字生物学与药物发现工具套件,标志着英伟达正将其最核心的软件资产向智能体场景迁移。</p><p style=\"text-align: justify;\">他同时提出英伟达的差异化定位:"垂直整合,水平开放"——全栈自研以实现端到端优化,再向整个行业开放,以支撑更广泛的生态构建。</p><h2 id=\"92c7faa4\">中国市场:H200出口获批,收入仍为零</h2><p style=\"text-align: justify;\">在涉华业务问题上,黄仁勋的表态相当谨慎。他透露,美国政府已批准H200芯片向中国客户出口的许可证,但英伟达迄今尚未产生任何相关收入,且对产品能否顺利进口至中国仍存在不确定性。</p><p style=\"text-align: justify;\">这一表述与此前市场对中国市场收入时间线的预期形成明显落差。黄仁勋未就中国业务的规模前景作出任何预测,也未提及任何具体客户。</p><p style=\"text-align: justify;\">在政策立场上,黄仁勋重申英伟达将积极参与出口管制政策的讨论,理由是实时的产业技术信息有助于政策制定者制定"强有力、均衡"的规则——既保护敏感技术,又维护美国在AI领域的领导地位。他强调,在商业利益与美国国家安全存在冲突时,国家安全优先。</p><h2 id=\"d09a92af\">黄仁勋罕见公开示警芯片走私</h2><p style=\"text-align: justify;\">在回应股东提问时,黄仁勋就英伟达产品流入受限终端用户的风险给出了迄今最为直接的公开回应,并罕见披露了具体应对措施。</p><p style=\"text-align: justify;\">黄仁勋表示,英伟达的合规工作已多次成功拦截企图走私的案例,相关人员面临两地司法起诉的风险。</p><p style=\"text-align: justify;\">黄仁勋强调,走私芯片拼凑数据中心是“死路一条”。因为先进AI数据中心是高度集成的系统,需要可信赖的硬件、软件、网络及持续的技术支持,而英伟达不向受限产品提供任何支持或维修服务,使得依靠走私产品搭建AI基础设施"极其困难"。</p><p style=\"text-align: justify;\">据C报道,芯片走私问题已引发美国立法者和监管机构的持续关注,英伟达此次在股东大会上正面回应这一议题,反映出该议题正日益成为公司需要主动管理的声誉与合规风险。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n黄仁勋英伟达股东大会释放重磅信号:AI工厂时代来临,智能体重塑计算格局\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-25 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>黄仁勋称,客户购买英伟达系统并非买计算工具,而是建设能直接创收的AI工厂;在基准测试中,Blackwell平台token吞吐量较次优平台高30倍;Vera Rubin是英伟达史上最重要发布产品之一;CUDA X库生态体系是英伟达的“皇冠珠宝”;美国批准H200芯片出口后,尚未在中国获相关收入。他罕见公开示警芯片走私,称走私芯片拼凑数据中心是“死路一条”。</p></blockquote><p style=\"text-align: justify;\">美东时间24日周三举行的英伟达年度股东大会上,CEO黄仁勋描绘了一幅雄心勃勃的AI基础设施扩张蓝图。他宣告,智能体(agent)时代正式到来,并将这一轮计算范式转变定性为60年来规模最大的行业重置。从专为智能体设计的全新CPU架构,到大规模芯片走私的警告,黄仁勋此次讲话释出多个不同以往的关键信号。</p><p style=\"text-align: justify;\">智能体AI的商业落地正在成为英伟达新一轮增长的核心逻辑。黄仁勋指出,AI已完成从“有趣”到“有用”的跨越——当AI真正创造经济价值,算力需求便呈现加速扩张之势。他以软件开发为例:GitHub开发者合并的pull request数量从2024年的4亿增至2025年的5亿,而进入2026年头几个月,数量增长近乎三倍。</p><p style=\"text-align: justify;\">在智能体浪潮驱动下,英伟达的国际市场收入超过300亿美元,同比增逾三倍,近40个国家正在部署由英伟达基础设施驱动的AI工厂(AI Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。</p><p style=\"text-align: justify;\">受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。</p><p style=\"text-align: justify;\">虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。</p><h2 id=\"ai\">AI工厂:数据中心的定义正在被改写</h2><p style=\"text-align: justify;\">黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。</p><p style=\"text-align: justify;\">黄仁勋以"五层蛋糕"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。</p><p style=\"text-align: justify;\">黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。</p><p style=\"text-align: justify;\">黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。</p><p style=\"text-align: justify;\">Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。</p><h2 id=\"vera-rubin-cpu\">Vera Rubin:对智能体专属CPU的历史性赌注</h2><p style=\"text-align: justify;\">黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。</p><p style=\"text-align: justify;\">其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。</p><p style=\"text-align: justify;\">黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。</p><p style=\"text-align: justify;\">在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。</p><h2 id=\"cuda\">CUDA被黄仁勋称为英伟达的“皇冠珠宝"</h2><p style=\"text-align: justify;\">黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。</p><p style=\"text-align: justify;\">他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。</p><p style=\"text-align: justify;\">随着智能体时代到来,CUDA X库正从面向人类开发者的工具集转型为智能体的工具箱。黄仁勋在股东大会期间宣布推出BioNeMo,这是一套专为智能体设计的数字生物学与药物发现工具套件,标志着英伟达正将其最核心的软件资产向智能体场景迁移。</p><p style=\"text-align: justify;\">他同时提出英伟达的差异化定位:"垂直整合,水平开放"——全栈自研以实现端到端优化,再向整个行业开放,以支撑更广泛的生态构建。</p><h2 id=\"92c7faa4\">中国市场:H200出口获批,收入仍为零</h2><p style=\"text-align: justify;\">在涉华业务问题上,黄仁勋的表态相当谨慎。他透露,美国政府已批准H200芯片向中国客户出口的许可证,但英伟达迄今尚未产生任何相关收入,且对产品能否顺利进口至中国仍存在不确定性。</p><p style=\"text-align: justify;\">这一表述与此前市场对中国市场收入时间线的预期形成明显落差。黄仁勋未就中国业务的规模前景作出任何预测,也未提及任何具体客户。</p><p style=\"text-align: justify;\">在政策立场上,黄仁勋重申英伟达将积极参与出口管制政策的讨论,理由是实时的产业技术信息有助于政策制定者制定"强有力、均衡"的规则——既保护敏感技术,又维护美国在AI领域的领导地位。他强调,在商业利益与美国国家安全存在冲突时,国家安全优先。</p><h2 id=\"d09a92af\">黄仁勋罕见公开示警芯片走私</h2><p style=\"text-align: justify;\">在回应股东提问时,黄仁勋就英伟达产品流入受限终端用户的风险给出了迄今最为直接的公开回应,并罕见披露了具体应对措施。</p><p style=\"text-align: justify;\">黄仁勋表示,英伟达的合规工作已多次成功拦截企图走私的案例,相关人员面临两地司法起诉的风险。</p><p style=\"text-align: justify;\">黄仁勋强调,走私芯片拼凑数据中心是“死路一条”。因为先进AI数据中心是高度集成的系统,需要可信赖的硬件、软件、网络及持续的技术支持,而英伟达不向受限产品提供任何支持或维修服务,使得依靠走私产品搭建AI基础设施"极其困难"。</p><p style=\"text-align: justify;\">据C报道,芯片走私问题已引发美国立法者和监管机构的持续关注,英伟达此次在股东大会上正面回应这一议题,反映出该议题正日益成为公司需要主动管理的声誉与合规风险。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f51e0887617e5ccdb1f56ab9d6b7e088","relate_stocks":{"IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 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Factories)。黄仁勋重申,将英伟达50%以上的自由现金流返还股东,并将本次股东大会上的多项资本回报政策宣布为长期承诺。受AI需求持续强劲推动,英伟达股价分别在2024年和2025年录得超240%和逾50%的暴涨,但截至本周三收盘,今年以来仅累涨6.7%,跑输美股大盘,标普500指数同期累涨近7.5%。股价表现反映出,市场关注的焦点从短期业绩转向AI基础设施投资周期究竟能够持续多久。虽然没有直接喊话,但黄仁勋在此次股东大会上的表态显然有意强化AI资本支出超级周期仍处于早期的观念。AI工厂:数据中心的定义正在被改写黄仁勋在演讲中提出,传统数据中心存储和传输文件的时代已成过去,新型AI工厂的核心功能是生产token(词元)。每一个token都是可货币化的智能单元,是代码、答案、设计、行动和服务的原材料。黄仁勋以\"五层蛋糕\"结构描述AI产业生态,从底层到顶层依次为:能源、芯片与系统、基础设施、模型、应用。这一框架意味着英伟达的业务覆盖范围远不止芯片本身,而是贯穿整个AI生产链条。黄仁勋强调,客户购买英伟达系统并非在购买计算工具,而是在建设能够直接创收的AI工厂。在这一逻辑下,工厂架构的效率——即每瓦特可产出多少token、每个token的成本有多低——成为最关键的竞争维度。黄仁勋援引Semi Analysis Inference X基准测试结果指出,Blackwell平台被认定为“推理之王”,其token吞吐量较次优平台高出30倍。Capital One、现代汽车、Jane Street和礼来等企业已在大规模部署英伟达基础设施,标志着AI工厂的客户群已从超大规模云厂商扩展至金融、制造、医药等传统行业。Vera Rubin:对智能体专属CPU的历史性赌注黄仁勋此次股东大会上最具突破性的表述,来自对Vera Rubin平台的定位——他称其为英伟达公司历史上“最重要的产品发布之一”,并将Vera CPU定义为打开全新市场的战略入口。其核心逻辑在于:智能体不同于人类,生活在纳秒级的计算世界中。当智能体调用工具、访问数据库、执行代码并反复迭代任务时,CPU一旦成为瓶颈,造价高昂的GPU便陷入闲置,每一秒闲置都意味着AI工厂收入的损耗。为此,英伟达从头构建了专为智能体设计的Vera CPU。黄仁勋指出,此前所有CPU都是为人类而设计、以核心为单位切片租用,而智能体对核心数量并无诉求,但对超低延迟响应有极致要求。随着全球智能体数量将达数十亿规模,这一全新的CPU市场正在开启。目前Vera Rubin已进入全面量产,主要模型构建商、公有云、AI云及超大规模客户均已着手部署规划,订单持续涌入。在架构层面,黄仁勋将Vera Rubin描述为一个完整的AI工厂平台,而非单一芯片,涵盖Rubin GPU、Vera CPU、NVLink、Spectrum-X以太网、InfiniBand和BlueField安全存储模块。他特别强调,英伟达是全球唯一同时拥有三个网络业务的公司,而Spectrum-X的规模已超过其他所有以太网络同行的总和。CUDA被黄仁勋称为英伟达的“皇冠珠宝\"黄仁勋将CUDA X库生态体系称为英伟达的“皇冠珠宝”,认为这是公司有史以来最重要的战略投资之一,也是竞争对手难以逾越的护城河。他阐述了英伟达独特的飞轮效应:一个统一架构积累的庞大安装基础吸引开发者,开发者创造突破性应用,应用开拓新市场,新市场进一步扩大安装基础,整个循环正在加速运转。CUDA目前支持逾7000个应用,使云客户获得更大的商业化空间。随着智能体时代到来,CUDA X库正从面向人类开发者的工具集转型为智能体的工具箱。黄仁勋在股东大会期间宣布推出BioNeMo,这是一套专为智能体设计的数字生物学与药物发现工具套件,标志着英伟达正将其最核心的软件资产向智能体场景迁移。他同时提出英伟达的差异化定位:\"垂直整合,水平开放\"——全栈自研以实现端到端优化,再向整个行业开放,以支撑更广泛的生态构建。中国市场:H200出口获批,收入仍为零在涉华业务问题上,黄仁勋的表态相当谨慎。他透露,美国政府已批准H200芯片向中国客户出口的许可证,但英伟达迄今尚未产生任何相关收入,且对产品能否顺利进口至中国仍存在不确定性。这一表述与此前市场对中国市场收入时间线的预期形成明显落差。黄仁勋未就中国业务的规模前景作出任何预测,也未提及任何具体客户。在政策立场上,黄仁勋重申英伟达将积极参与出口管制政策的讨论,理由是实时的产业技术信息有助于政策制定者制定\"强有力、均衡\"的规则——既保护敏感技术,又维护美国在AI领域的领导地位。他强调,在商业利益与美国国家安全存在冲突时,国家安全优先。黄仁勋罕见公开示警芯片走私在回应股东提问时,黄仁勋就英伟达产品流入受限终端用户的风险给出了迄今最为直接的公开回应,并罕见披露了具体应对措施。黄仁勋表示,英伟达的合规工作已多次成功拦截企图走私的案例,相关人员面临两地司法起诉的风险。黄仁勋强调,走私芯片拼凑数据中心是“死路一条”。因为先进AI数据中心是高度集成的系统,需要可信赖的硬件、软件、网络及持续的技术支持,而英伟达不向受限产品提供任何支持或维修服务,使得依靠走私产品搭建AI基础设施\"极其困难\"。据C报道,芯片走私问题已引发美国立法者和监管机构的持续关注,英伟达此次在股东大会上正面回应这一议题,反映出该议题正日益成为公司需要主动管理的声誉与合规风险。","news_type":1,"symbols_score_info":{"NVDL":0.6,"NVDA":2,"NVDX":0.6,"NVDQ":0.6,"NVDW":0.6,"NVDY":0.6,"NVDG":0.6,"07788":0.6,"NVII":0.6,"NVDU":0.6,"NVYY":0.6,"NVDB":0.6,"07388":0.6,"NVDS":0.6,"NVDD":0.6,"DIPS":0.6,"NVDO":0.6,"NVD":0.6,"ANV":0.6}},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4091320857230770","authorId":"4091320857230770","name":"文狸","avatar":"https://static.tigerbbs.com/5b43e4d217f58ae428704c949e9e98ce","crmLevel":2,"crmLevelSwitch":1,"idStr":"4091320857230770","authorIdStr":"4091320857230770"},"content":"[龇牙] [龇牙] [龇牙]","text":"[龇牙] [龇牙] [龇牙]","html":"[龇牙] [龇牙] [龇牙]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":578873278596064,"gmtCreate":1782335620342,"gmtModify":1782336770007,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 到年底之前英伟达都不会有什么大幅度的上升,会跌到在160左右才会迎来下一轮的上升,毕竟它不是真正的AI龙头,各家厂商都在奋力逃脱英伟达的掌控","listText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 到年底之前英伟达都不会有什么大幅度的上升,会跌到在160左右才会迎来下一轮的上升,毕竟它不是真正的AI龙头,各家厂商都在奋力逃脱英伟达的掌控","text":"$英伟达(NVDA)$ 到年底之前英伟达都不会有什么大幅度的上升,会跌到在160左右才会迎来下一轮的上升,毕竟它不是真正的AI龙头,各家厂商都在奋力逃脱英伟达的掌控","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/578873278596064","isVote":1,"tweetType":1,"viewCount":1364,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3448457661125806","authorId":"3448457661125806","name":"香槟巴菲特","avatar":"https://static.tigerbbs.com/77aa1e39b69d45fad940304dc867039a","crmLevel":6,"crmLevelSwitch":0,"idStr":"3448457661125806","authorIdStr":"3448457661125806"},"content":"你这话不自相矛盾吗,不是龙头别人为什么还要奋力脱离掌控","text":"你这话不自相矛盾吗,不是龙头别人为什么还要奋力脱离掌控","html":"你这话不自相矛盾吗,不是龙头别人为什么还要奋力脱离掌控"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":578434652590760,"gmtCreate":1782228533524,"gmtModify":1782228660300,"author":{"id":"4210205702143872","authorId":"4210205702143872","name":"CainLuo","avatar":"https://static.tigerbbs.com/148193d55ab124c2c00bcc2fe89538b4","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4210205702143872","authorIdStr":"4210205702143872"},"themes":[],"title":"","htmlText":"<a 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