<p>在过去的几年里，<strong>英伟达</strong>（NVDA 1.06%）已成为人工智能（AI）革命的代表。然而，在 2025 年上半年，该公司遭遇了波动。对竞争加剧、关税潜在影响以及与中国的贸易限制的担忧影响了英伟达的增长。</p>
<p>虽然这些担忧确实有其合理性，但英伟达的业务仍在持续增长。让我们来看一下可能在下半年推动英伟达股票上涨的三个催化因素。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NTMvYS1wZXJzb25zLWhhbmQtY3VwcGVkLW9wZW4td2l0aC1hLWhvbG9ncmFtLW9mLWFuLWFpLWNoYXRib3QtYWJvdmUtc2F5aW5nLWhpLWNhbi1pLWhlbHAteW91LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NTMvYS1wZXJzb25zLWhhbmQtY3VwcGVkLW9wZW4td2l0aC1hLWhvbG9ncmFtLW9mLWFuLWFpLWNoYXRib3QtYWJvdmUtc2F5aW5nLWhpLWNhbi1pLWhlbHAteW91LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>1. 主权 AI 势头增强</h2>
<p>首席执行官黄仁勋普及了每个国家应当制定自己在 AI 领域发展路线的理念。他鼓励各国领导人建立自己的基础设施，收集和维护数据，并培训劳动力，以从这一颠覆性技术中获利。</p>
<p>世界各国政府似乎正在响应黄仁勋的号召。欧盟（EU）已宣布计划在整个欧洲建立五个 AI 超级工厂，德国、法国、沙特阿拉伯、韩国和阿联酋等 20 个国家也纷纷加入主权 AI 的行列。</p>
<p>作为 AI 芯片的领先供应商，英伟达推广主权 AI 的战略非常聪明。</p>
<h2>2. Blackwell</h2>
<p>自从英伟达宣布其 Blackwell 芯片以来已经过去一年多，但这些处理器直到今年早些时候才开始发货。因此，这些下一代 AI 芯片的销售才刚刚开始对英伟达的财务结果产生影响，预计大部分收入将在未来一年内实现。</p>
<p>领先的数据中心和云计算运营商承诺今年将在资本支出上投入 3150 亿美元，其中绝大部分将用于 AI。</p>
<p>作为数据中心 GPU 的领先供应商，英伟达将从这笔支出中受益。</p>
<h2>3. 对中国的销售</h2>
<p>英伟达本周宣布已申请在中国销售其 H200 芯片的许可证，并获得特朗普政府的保证将会批准这些申请。估计这些销售每季度可能接近 100 亿美元，这将对英伟达产生显著的推动。</p>
<p>这就是为什么英伟达可能是你在 2025 年下半年的最佳投资。</p>

英伟达

2 倍做多英伟达 ETF - GraniteShares

南方两倍做多英伟达

南方两倍做空英伟达

英伟达期权收益策略 ETF - YieldMax

1 倍做空英伟达 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半导体 3 倍做多 - Direxion

<p>英伟达在 2025 年初面临竞争和贸易担忧的挑战，但其业务依然强劲。三个关键催化因素可能会提升其股票表现：1）主权人工智能的崛起，全球各国政府正在投资人工智能基础设施，这将使作为领先芯片供应商的英伟达受益。2）最近推出的 Blackwell 芯片，预计将显著提升收入，因为数据中心在人工智能方面的投资非常庞大。3）在中国潜在的 H200 芯片销售，预计每季度可达 100 亿美元，这可能进一步巩固英伟达的市场地位。总体而言，英伟达可能是 2025 年下半年的顶级投资</p>

<p>Over the past few years, <strong>Nvidia</strong>(NVDA 1.06%) has emerged as the face of the artificial intelligence (AI) revolution. However, during the first half of 2025, the company hit turbulence. Worries about ramping competition, the potential impact of tariffs, and trade restrictions with China weighed on Nvidia's growth.</p>
<div class="lb-trans"><p>在过去的几年里，<strong>英伟达</strong>（NVDA 1.06%）已成为人工智能（AI）革命的代表。然而，在 2025 年上半年，该公司遭遇了波动。对竞争加剧、关税潜在影响以及与中国的贸易限制的担忧影响了英伟达的增长。</p>
</div><p>While those concerns are certainly justified, Nvidia's business continues to gain steam. Let's look at three catalysts that could give Nvidia stock a boost in the back half of the year.</p>
<div class="lb-trans"><p>虽然这些担忧确实有其合理性，但英伟达的业务仍在持续增长。让我们来看一下可能在下半年推动英伟达股票上涨的三个催化因素。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NTMvYS1wZXJzb25zLWhhbmQtY3VwcGVkLW9wZW4td2l0aC1hLWhvbG9ncmFtLW9mLWFuLWFpLWNoYXRib3QtYWJvdmUtc2F5aW5nLWhpLWNhbi1pLWhlbHAteW91LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825553%2Fa-persons-hand-cupped-open-with-a-hologram-of-an-ai-chatbot-above-saying-hi-can-i-help-you.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>1. Sovereign AI gathers momentum</h2>
<div class="lb-trans"><h2>1. 主权 AI 势头增强</h2>
</div><p>CEO Jensen Huang has popularized the notion that each country should chart its own course in AI. He's encouraging leaders to create their own infrastructure, assemble and maintain data, and train their workforce to profit from this game-changing technology.</p>
<div class="lb-trans"><p>首席执行官黄仁勋普及了每个国家应当制定自己在 AI 领域发展路线的理念。他鼓励各国领导人建立自己的基础设施，收集和维护数据，并培训劳动力，以从这一颠覆性技术中获利。</p>
</div><p>Governments of the world appear to be heeding Huang's call. The European Union (EU) has announced plans to build five AI gigafactories across the continent, and 20 individual countries, including Germany, France, Saudi Arabia, South Korea, and the United Arab Emirates (among others), have jumped on the sovereign AI bandwagon.</p>
<div class="lb-trans"><p>世界各国政府似乎正在响应黄仁勋的号召。欧盟（EU）已宣布计划在整个欧洲建立五个 AI 超级工厂，德国、法国、沙特阿拉伯、韩国和阿联酋等 20 个国家也纷纷加入主权 AI 的行列。</p>
</div><p>As the leading provider of AI-centric chips, Nvidia's strategy of promoting sovereign AI is brilliant.</p>
<div class="lb-trans"><p>作为 AI 芯片的领先供应商，英伟达推广主权 AI 的战略非常聪明。</p>
</div><h2>2. Blackwell</h2>
<div class="lb-trans"><h2>2. Blackwell</h2>
</div><p>It's been more than a year since Nvidia announced its Blackwell chips, but these processors only began shipping earlier this year. As such, sales of these next-generation AI chips have only just begun to impact Nvidia's financial results, with the bulk of the revenue expected to hit over the coming year.</p>
<div class="lb-trans"><p>自从英伟达宣布其 Blackwell 芯片以来已经过去一年多，但这些处理器直到今年早些时候才开始发货。因此，这些下一代 AI 芯片的销售才刚刚开始对英伟达的财务结果产生影响，预计大部分收入将在未来一年内实现。</p>
</div><p>Leading data center and cloud computing operators have pledged to spend $315 billion in capital expenditures this year, with the vast majority allocated to AI.</p>
<div class="lb-trans"><p>领先的数据中心和云计算运营商承诺今年将在资本支出上投入 3150 亿美元，其中绝大部分将用于 AI。</p>
</div><p>As the leading provider of data center GPUs, Nvidia stands to benefit from this spending.</p>
<div class="lb-trans"><p>作为数据中心 GPU 的领先供应商，英伟达将从这笔支出中受益。</p>
</div><h2>3. Sales to China</h2>
<div class="lb-trans"><h2>3. 对中国的销售</h2>
</div><p>Nvidia announced this week that it has applied for licenses to sell its H200 chips in China and has assurances from the Trump administration that they will be granted. Estimates suggest that these sales could be nearly $10 billion per quarter, which would be a significant boost for Nvidia.</p>
<div class="lb-trans"><p>英伟达本周宣布已申请在中国销售其 H200 芯片的许可证，并获得特朗普政府的保证将会批准这些申请。估计这些销售每季度可能接近 100 亿美元，这将对英伟达产生显著的推动。</p>
</div><p>That's why Nvidia could be your best investment in the second half of 2025.</p>
<div class="lb-trans"><p>这就是为什么英伟达可能是你在 2025 年下半年的最佳投资。</p>
</div>

Could Nvidia Be Your Best Investment in the Second Half of 2025?

- Nvidia 在 2025 年上半年面临竞争和贸易限制的挑战。  
- 然而，Nvidia 的业务仍在增长，预计下半年将受益于多个催化因素。  
- 包括主权 AI 的发展、Blackwell 芯片的销售以及对中国市场的销售许可。  

英伟达会成为你在 2025 年下半年最佳的投资选择吗？