<p>五月份的数据发布非常关键。我们收到了来自有影响力企业的财报、联邦储备委员会的公开市场委员会会议，以及特朗普总统及其政府关于关税和贸易政策的无数更新。</p>
<p>但在这片数据海洋中，也许没有什么比向证券交易委员会（SEC）提交 13F 表格更具启示性。</p>
<p>在一个季度结束后的 45 个日历日内，管理资产规模至少为 1 亿美元的机构投资者必须向 SEC 提交 13F 表格。该表格使专业投资者和普通投资者能够看到华尔街领先资产管理者在最近一个季度买入和卖出的股票和交易所交易基金（ETF）。5 月 15 日是提交详细说明截至 3 月季度交易活动的 13F 表格的截止日期。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvc2lsdmVyLWRpY2UtYnV5LXNlbGwtc3RvY2stY2hhcnQtdm9sdW1lLWJpbGxpb25haXJlLWdldHR5LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvc2lsdmVyLWRpY2UtYnV5LXNlbGwtc3RvY2stY2hhcnQtdm9sdW1lLWJpbGxpb25haXJlLWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<p>尽管沃伦·巴菲特是所有资金管理者中最受欢迎的，但他并不是唯一以超额投资回报而闻名的亿万富翁基金经理。第三点的亿万富翁首席丹·洛布在华尔街也有相当多的追随者。</p>
<p>洛布在 2025 年第一季度结束时管理着 65.5 亿美元的资产，分布在 45 只股票中。但洛布的投资风格特别值得注意的是他对高增长和广泛持有公司的买卖偏好。</p>
<p>根据第三点最新的 13F，丹·洛布完全抛弃了北美电动车（EV）巨头 <strong>特斯拉</strong>（TSLA 2.08%），并选择投资华尔街首屈一指的人工智能（AI）股票。</p>
<h2>丹·洛布将其基金的特斯拉股份全部抛售</h2>
<p>尽管丹·洛布在第一季度完全退出了第三点的九个头寸，包括社交媒体巨头 <strong>Meta Platforms</strong>，但出售 50 万股特斯拉的交易最为引人注目。原因是什么？洛布最初在 2024 年第三季度购买了 40 万股特斯拉，并在 12 月结束的季度增加了 10 万股。在 1 月 1 日至 3 月 31 日之间，情况发生了变化。</p>
<p>这个 “变化” 很可能是特斯拉股价的飙升。在特朗普总统 11 月胜选后不久，首席执行官埃隆·马斯克被指定为政府效率部（DOGE）的 “特别政府雇员”，特斯拉的股票一度翻倍。洛布投资组合中的平均股票持有时间略超过 13 个月，因此他并不害怕锁定利润。</p>
<p>但这次出售活动可能还有更多内情。</p>
<p>首先，人们越来越担心马斯克与 DOGE 的关系以及他众多其他公司和项目的参与正在削弱特斯拉的增长潜力。尽管特斯拉的能源生产和储存业务持续增长，但电动车收入在第一季度同比下降了 20%。</p>
<p>此外，特斯拉的车辆利润率在过去两年中持续走低。马斯克在公司 2023 年年度会议上指出，电动车需求决定定价。特斯拉的车队（Model 3、S、X 和 Y）大幅降价的举措证实了竞争加剧和/或电动车需求减弱。即使在大幅降价的情况下，特斯拉也难以控制电动车库存水平的上升。</p>
<p>另一个担忧是特斯拉的盈利质量较差。拥有先发优势的公司应该从其产品和服务中产生利润。特斯拉超过一半的税前收入来自于汽车监管信用，这些信用是政府免费给予的，以及其现金所赚取的利息收入。如果没有汽车监管信用，特斯拉在截至 3 月的季度将报告税前亏损。</p>
<p>最后，丹·洛布可能因埃隆·马斯克众多未兑现的承诺而退出。例如，特斯拉的首席执行官声称完全自动驾驶的第五级 “距离我们只有一年”，而这一说法已经持续了 11 年。他还在 2019 年预计 “明年” 美国道路上会有 100 万辆机器人出租车。更糟糕的是，Cybertruck 的需求远低于最初的炒作。如果将这些未兑现的承诺从特斯拉的估值中剔除，其股票可能会大幅下跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvd29tYW4tYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtYWktdmlydHVhbC1hZ2VudC1jb21wdXRlci1jbG91ZC1nZXR0eS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvd29tYW4tYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtYWktdmlydHVhbC1hZ2VudC1jb21wdXRlci1jbG91ZC1nZXR0eS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>洛布正在加码华尔街最直接受益于 AI 的公司</h2>
<p>在另一端，第三点的 13F 显示洛布在第一季度开设了 10 个新头寸。尽管他确实增加了一些高收益的分红股票，例如电信巨头 <strong>AT&amp;T</strong> 和消费健康产品公司 <strong>Kenvue</strong>，这并不意外，因为我们在第一季度末开始目睹市场的波动，但洛布引人注目的购买是首屈一指的 AI 股票 <strong>英伟达</strong>（NVDA 0.83%）。</p>
<p>第三点的亿万富翁投资者上一次持有英伟达的股份是在 2023 年第二季度。他在 2023 年第三季度出售了相当于 500 万股英伟达的股份，考虑到英伟达在 2024 年 6 月的 10 比 1 股票拆分。在 2025 年第一季度，洛布购买了 145 万股，目前价值近 1.96 亿美元。</p>
<p>没有哪家公司比英伟达更直接受益于 AI 革命。其 Hopper 图形处理单元（GPU）和 Blackwell GPU 架构是运营 AI 加速数据中心的企业的无可争议的首选。基本上，英伟达的硬件是生成 AI 解决方案和许多大型语言模型（LLM）训练的核心。</p>
<p>英伟达也能够充分利用人工智能 GPU 的稀缺性。即使全球领先的芯片制造公司 <strong>台积电</strong> 正在提升其晶圆级封装能力，英伟达仍无法满足其硬件的全部需求。当一种商品的需求超过供应时，该商品的价格上涨是完全正常的。英伟达的 Hopper 和 Blackwell GPU 的价格都高于竞争对手的芯片，这对公司的毛利率是一个好处。</p>
<p>甚至 CUDA 软件平台也在为英伟达成为华尔街最具影响力的企业之一贡献力量。CUDA 是开发者用来最大化其英伟达 GPU 计算潜力的工具包，同时也是构建大型语言模型（LLMs）的工具。更重要的是，它是一个锚定工具，帮助客户保持对英伟达产品和服务生态系统的忠诚。</p>
<p>Loeb 所关注的最后一块拼图似乎是英伟达的估值，这一估值已经变得相当可口。在三月底，英伟达的前瞻市盈率（P/E）降至约 19，这在其能够维持的增长率下显得相当便宜。</p>
<p>但英伟达的股票并不保证会继续上涨。在过去三十多年中，每一个下一个重大趋势都经历了扩张初期的泡沫破裂事件。大多数企业缺乏明确的人工智能战略，并且在其人工智能投资上没有产生利润，这一简单事实表明投资者再次高估了另一项颠覆性技术的采用率和实用性。</p>
<p>竞争也是一个真正的担忧。随着外部和内部竞争的加剧，人工智能 GPU 的稀缺性将会减弱。最终，这对英伟达的人工智能 GPU 定价能力和其利润率来说是个坏消息。</p>

特斯拉

英伟达

<p>亿万富翁丹·洛布已出售他在特斯拉的全部股份，转让了 500,000 股，并将投资重点转向英伟达，这是一家领先的人工智能股票。此决定是由于对特斯拉电动车收入下降、车辆利润率降低以及对监管信用依赖以获取利润的担忧。洛布的基金 Third Point 在第一季度还开设了 10 个新头寸，包括高收益分红股票，但这一重大举措是向人工智能的转变，表明在市场波动中投资优先级的战略调整</p>

<p>The month of May has been packed with pivotal data releases. We've had no shortage of earnings reports from influential businesses, a Federal Reserve Open Market Committee meeting, and countless updates on tariff and trade policy from President Donald Trump and his administration.</p>
<div class="lb-trans"><p>五月份的数据发布非常关键。我们收到了来自有影响力企业的财报、联邦储备委员会的公开市场委员会会议，以及特朗普总统及其政府关于关税和贸易政策的无数更新。</p>
</div><p>But amid this sea of data, perhaps nothing has been more telling than the filing of Form 13Fs with the Securities and Exchange Commission (SEC).</p>
<div class="lb-trans"><p>但在这片数据海洋中，也许没有什么比向证券交易委员会（SEC）提交 13F 表格更具启示性。</p>
</div><p>No later than 45 calendar days following the end to a quarter, institutional investors overseeing at least $100 million in assets under management (AUM) are required to file a 13F with the SEC. This filing allows professional and everyday investors to see which stocks and exchange-traded funds (ETFs) Wall Street's leading asset managers bought and sold in the most recent quarter. May 15 marked the filing deadline for 13Fs detailing trading activity for the March-ended quarter.</p>
<div class="lb-trans"><p>在一个季度结束后的 45 个日历日内，管理资产规模至少为 1 亿美元的机构投资者必须向 SEC 提交 13F 表格。该表格使专业投资者和普通投资者能够看到华尔街领先资产管理者在最近一个季度买入和卖出的股票和交易所交易基金（ETF）。5 月 15 日是提交详细说明截至 3 月季度交易活动的 13F 表格的截止日期。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvc2lsdmVyLWRpY2UtYnV5LXNlbGwtc3RvY2stY2hhcnQtdm9sdW1lLWJpbGxpb25haXJlLWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F818844%2Fsilver-dice-buy-sell-stock-chart-volume-billionaire-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>Though Warren Buffett is the most-popular of all money managers, he's far from the only billionaire fund manager known for outsized investment returns. Third Point's billionaire chief Dan Loeb also has quite the following on Wall Street.</p>
<div class="lb-trans"><p>尽管沃伦·巴菲特是所有资金管理者中最受欢迎的，但他并不是唯一以超额投资回报而闻名的亿万富翁基金经理。第三点的亿万富翁首席丹·洛布在华尔街也有相当多的追随者。</p>
</div><p>Loeb closed out the first frame of 2025 with $6.55 billion in AUM which was spread across 45 stocks. But what's particularly noteworthy about Loeb's investing style is his penchant for buying and selling high-growth and widely owned companies.</p>
<div class="lb-trans"><p>洛布在 2025 年第一季度结束时管理着 65.5 亿美元的资产，分布在 45 只股票中。但洛布的投资风格特别值得注意的是他对高增长和广泛持有公司的买卖偏好。</p>
</div><p>Based on Third Point's latest 13F, Dan Loeb completely kicked North America's electric-vehicle (EV) kingpin <strong>Tesla</strong>(TSLA 2.08%) to the curb and chose to pile into Wall Street's preeminent artificial intelligence (AI) stock.</p>
<div class="lb-trans"><p>根据第三点最新的 13F，丹·洛布完全抛弃了北美电动车（EV）巨头 <strong>特斯拉</strong>（TSLA 2.08%），并选择投资华尔街首屈一指的人工智能（AI）股票。</p>
</div><h2>Dan Loeb sent his fund's entire Tesla stake packing</h2>
<div class="lb-trans"><h2>丹·洛布将其基金的特斯拉股份全部抛售</h2>
</div><p>Although Dan Loeb completely exited nine positions at Third Point during the first quarter, including social media colossus <strong>Meta Platforms</strong>, the sale of 500,000 shares of Tesla is what stands out most. The reason? Loeb initially purchased 400,000 shares of Tesla during the third quarter of 2024 and tacked on an additional 100,000 shares in the December-ended quarter. Between Jan. 1 and March 31, something changed.</p>
<div class="lb-trans"><p>尽管丹·洛布在第一季度完全退出了第三点的九个头寸，包括社交媒体巨头 <strong>Meta Platforms</strong>，但出售 50 万股特斯拉的交易最为引人注目。原因是什么？洛布最初在 2024 年第三季度购买了 40 万股特斯拉，并在 12 月结束的季度增加了 10 万股。在 1 月 1 日至 3 月 31 日之间，情况发生了变化。</p>
</div><p>This &#34;something&#34; could very well be Tesla's soaring share price. In the wake of President Donald Trump's victory in November and CEO Elon Musk being designated as a &#34;special government employee&#34; for the Department of Government Efficiency (DOGE), Tesla stock very briefly doubled. The average stock in Loeb's portfolio has an average hold time of a little over 13 months, so he's not shy about locking in profits.</p>
<div class="lb-trans"><p>这个 “变化” 很可能是特斯拉股价的飙升。在特朗普总统 11 月胜选后不久，首席执行官埃隆·马斯克被指定为政府效率部（DOGE）的 “特别政府雇员”，特斯拉的股票一度翻倍。洛布投资组合中的平均股票持有时间略超过 13 个月，因此他并不害怕锁定利润。</p>
</div><p>But there may be more to this selling activity than meets the eye.</p>
<div class="lb-trans"><p>但这次出售活动可能还有更多内情。</p>
</div><p>To begin with, there's growing concern that Musk's involvement with DOGE and his numerous other companies and projects are detracting from Tesla's growth potential. Despite continued sales growth from Tesla's energy generation and storage operations, EV revenue plunged 20% in the first quarter from the prior-year period.</p>
<div class="lb-trans"><p>首先，人们越来越担心马斯克与 DOGE 的关系以及他众多其他公司和项目的参与正在削弱特斯拉的增长潜力。尽管特斯拉的能源生产和储存业务持续增长，但电动车收入在第一季度同比下降了 20%。</p>
</div><p>Moreover, Tesla's vehicle margin has been trending lower for the last two years. Musk noted during his company's 2023 annual meeting that EV demand dictates pricing. A slew of sweeping price cuts for Tesla's fleet (Model's 3, S, X, and Y) confirms that competition is picking up and/or demand for EVs has waned. Even with steep price cuts, Tesla has struggled to keep its EV inventory levels from rising.</p>
<div class="lb-trans"><p>此外，特斯拉的车辆利润率在过去两年中持续走低。马斯克在公司 2023 年年度会议上指出，电动车需求决定定价。特斯拉的车队（Model 3、S、X 和 Y）大幅降价的举措证实了竞争加剧和/或电动车需求减弱。即使在大幅降价的情况下，特斯拉也难以控制电动车库存水平的上升。</p>
</div><p>Another concern is that Tesla's earnings quality is poor. Companies with first-mover advantages should be generating their profits from their products and services. More than half of Tesla's pre-tax income can be traced to automotive regulatory credits, which are given to it for free by governments, and interest income earned on its cash. Without automotive regulatory credits, Tesla would have reported a pre-tax loss in the March-ended quarter.</p>
<div class="lb-trans"><p>另一个担忧是特斯拉的盈利质量较差。拥有先发优势的公司应该从其产品和服务中产生利润。特斯拉超过一半的税前收入来自于汽车监管信用，这些信用是政府免费给予的，以及其现金所赚取的利息收入。如果没有汽车监管信用，特斯拉在截至 3 月的季度将报告税前亏损。</p>
</div><p>Lastly, Dan Loeb might be out due to Elon Musk's numerous unfulfilled promises. For instance, Tesla's chief has claimed that Level 5 full self-driving is &#34;one year away&#34; for the last 11 years. He also expected 1 million robotaxis on American roadways &#34;next year&#34; in 2019. The cherry on top is that demand for Cybertruck has been well below the initial hype. If these unfulfilled promises are backed out of Tesla's valuation, its stock could have a long way to fall.</p>
<div class="lb-trans"><p>最后，丹·洛布可能因埃隆·马斯克众多未兑现的承诺而退出。例如，特斯拉的首席执行官声称完全自动驾驶的第五级 “距离我们只有一年”，而这一说法已经持续了 11 年。他还在 2019 年预计 “明年” 美国道路上会有 100 万辆机器人出租车。更糟糕的是，Cybertruck 的需求远低于最初的炒作。如果将这些未兑现的承诺从特斯拉的估值中剔除，其股票可能会大幅下跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NDQvd29tYW4tYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtYWktdmlydHVhbC1hZ2VudC1jb21wdXRlci1jbG91ZC1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F818844%2Fwoman-artificial-intelligence-ai-virtual-agent-computer-cloud-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Loeb is loading up on Wall Street's most direct AI beneficiary</h2>
<div class="lb-trans"><h2>洛布正在加码华尔街最直接受益于 AI 的公司</h2>
</div><p>On the other end of the spectrum, Third Point's 13F shows that Loeb opened 10 new positions during the first quarter. Though he did add a handful of high-yield dividend stocks, such as telecom titan <strong>AT&amp;T</strong> and consumer health products company <strong>Kenvue</strong>, which isn't unexpected given the volatility we began witnessing in the stock market late in the first quarter, Loeb's eyebrow-raising purchase is premier AI stock <strong>Nvidia</strong>(NVDA 0.83%).</p>
<div class="lb-trans"><p>在另一端，第三点的 13F 显示洛布在第一季度开设了 10 个新头寸。尽管他确实增加了一些高收益的分红股票，例如电信巨头 <strong>AT&amp;T</strong> 和消费健康产品公司 <strong>Kenvue</strong>，这并不意外，因为我们在第一季度末开始目睹市场的波动，但洛布引人注目的购买是首屈一指的 AI 股票 <strong>英伟达</strong>（NVDA 0.83%）。</p>
</div><p>The last time Third Point's billionaire investor held shares of Nvidia for his fund was the second quarter of 2023. He then sold what's now the equivalent of 5,000,000 shares of Nvidia during the third quarter of 2023, which takes into account Nvidia's 10-for-1 stock split in June 2024. During the first quarter of 2025, Loeb scooped up 1,450,000 shares, which are currently valued at almost $196 million.</p>
<div class="lb-trans"><p>第三点的亿万富翁投资者上一次持有英伟达的股份是在 2023 年第二季度。他在 2023 年第三季度出售了相当于 500 万股英伟达的股份，考虑到英伟达在 2024 年 6 月的 10 比 1 股票拆分。在 2025 年第一季度，洛布购买了 145 万股，目前价值近 1.96 亿美元。</p>
</div><p>No company has been a more direct beneficiary of the AI revolution than Nvidia. Its Hopper graphics processing units (GPUs) and Blackwell GPU architecture are the undisputed preferred choice by businesses operating AI-accelerated data centers. Essentially, Nvidia's hardware is the brains behind generative AI solutions and the training of many large language models (LLMs).</p>
<div class="lb-trans"><p>没有哪家公司比英伟达更直接受益于 AI 革命。其 Hopper 图形处理单元（GPU）和 Blackwell GPU 架构是运营 AI 加速数据中心的企业的无可争议的首选。基本上，英伟达的硬件是生成 AI 解决方案和许多大型语言模型（LLM）训练的核心。</p>
</div><p>Nvidia has also been able to take full advantage of AI-GPU scarcity. Even with world-leading chip fabrication company <strong>Taiwan Semiconductor Manufacturing</strong> ramping up its chip-on-wafer-on-substrate capacity, Nvidia can't come close to meeting the full demand for its hardware. When demand for a good overwhelms supply, it's perfectly normal the price of that good to climb. Both Nvidia's Hopper and Blackwell GPUs are commanding a premium to competing chips, which has been a benefit to the company's gross margin.</p>
<div class="lb-trans"><p>英伟达也能够充分利用人工智能 GPU 的稀缺性。即使全球领先的芯片制造公司 <strong>台积电</strong> 正在提升其晶圆级封装能力，英伟达仍无法满足其硬件的全部需求。当一种商品的需求超过供应时，该商品的价格上涨是完全正常的。英伟达的 Hopper 和 Blackwell GPU 的价格都高于竞争对手的芯片，这对公司的毛利率是一个好处。</p>
</div><p>Even the CUDA software platform is doing its part to make Nvidia one of Wall Street's most-influential businesses. CUDA is the toolkit developers use to maximize the compute potential of their Nvidia GPUs, as well as build LLMs. More importantly, it's an anchoring tool that's helping to keep clients loyal to Nvidia's ecosystem of products and services.</p>
<div class="lb-trans"><p>甚至 CUDA 软件平台也在为英伟达成为华尔街最具影响力的企业之一贡献力量。CUDA 是开发者用来最大化其英伟达 GPU 计算潜力的工具包，同时也是构建大型语言模型（LLMs）的工具。更重要的是，它是一个锚定工具，帮助客户保持对英伟达产品和服务生态系统的忠诚。</p>
</div><p>The final piece of the puzzle for Loeb looks to be Nvidia's valuation, which has become considerably more palatable. During the tail-end of March, Nvidia's forward price-to-earnings (P/E) ratio dipped to around 19, which appears quite inexpensive given the growth rate it's been able to sustain.</p>
<div class="lb-trans"><p>Loeb 所关注的最后一块拼图似乎是英伟达的估值，这一估值已经变得相当可口。在三月底，英伟达的前瞻市盈率（P/E）降至约 19，这在其能够维持的增长率下显得相当便宜。</p>
</div><p>But Nvidia stock isn't guaranteed to head higher. Every next-big-thing trend for more than three decades has worked its way through a bubble-bursting event early in its expansion. The simple fact that most businesses lack a well-defined AI game plan and aren't generating a profit on their AI investments signals that investors have, once again, overestimated the adoption rate and utility of another game-changing technology.</p>
<div class="lb-trans"><p>但英伟达的股票并不保证会继续上涨。在过去三十多年中，每一个下一个重大趋势都经历了扩张初期的泡沫破裂事件。大多数企业缺乏明确的人工智能战略，并且在其人工智能投资上没有产生利润，这一简单事实表明投资者再次高估了另一项颠覆性技术的采用率和实用性。</p>
</div><p>Competition is a genuine concern, as well. As both external and internal competition ramps up, AI-GPU scarcity will diminish. Ultimately, this is bad news for Nvidia's AI-GPU pricing power and its margins.</p>
<div class="lb-trans"><p>竞争也是一个真正的担忧。随着外部和内部竞争的加剧，人工智能 GPU 的稀缺性将会减弱。最终，这对英伟达的人工智能 GPU 定价能力和其利润率来说是个坏消息。</p>
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Billionaire Dan Loeb Sold His Fund's Entire Stake in Tesla and Is Piling Into Wall Street's Preeminent Artificial Intelligence (AI) Stock

- 5 月发布了重要数据，包括企业财报和美联储会议。  
- Dan Loeb 完全退出特斯拉，转而投资人工智能股票 Nvidia。  
- 特斯拉面临需求下降和盈利质量差的问题。

亿万富翁丹·勒布已经出售了其基金持有的特斯拉全部股份，并正在大举投资于华尔街最具影响力的人工智能（AI）股票