<p>在财报季节——每个季度的六周期间，大多数最具影响力的企业报告其运营结果——经济数据发布和特朗普政府的更新之间，跟踪市场动态新闻事件对投资者来说可能是一个挑战。事实上，重要信息很容易被忽视。</p>
<p>投资者可能忽视的一个关键数据发布是，资产管理规模至少为 1 亿美元的机构投资者必须在 5 月 15 日之前向证券交易委员会提交 13F 表格。13F 表格必须在季度结束后的 45 个日历日内提交，提供了华尔街顶级资产管理者买卖哪些股票的简明快照。</p>
<p>尽管 13F 表格存在缺陷——例如，它们可能为非常活跃的对冲基金提供过时的快照——但它们在帮助投资者拼凑出哪些股票和趋势受到成功基金经理的高度关注方面是无价的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<p>虽然投资者通常急切地等待亿万富翁沃伦·巴菲特的动向，但他并不是唯一一个在股市中引起波动的亿万富翁。Third Point 的丹·洛布（Dan Loeb）也是一位以发现好交易而闻名的亿万富翁资产管理者。</p>
<p>在截至 3 月的季度中，Third Point 的亿万富翁首席执行官在人工智能（AI）领域进行了两笔引人注目的交易。他将其基金在 <strong>Meta Platforms</strong>（META -0.98%）的全部股份抛售，并大量购买了一家无可争议的 AI 领导者的股票，该公司的可寻址市场在 10 年内可能增长 25 倍。</p>
<h2>亿万富翁丹·洛布的 Third Point 退出 Meta</h2>
<p>根据 Third Point 的 13F，洛布在第一季度完全退出了九个头寸，其中没有哪个比社交媒体巨头 Meta Platforms 更引人注目。洛布批准出售了截至 2024 年底持有的所有 665,000 股。</p>
<p>这笔出售很可能只是 Third Point 的亿万富翁首席执行官的获利机会。平均而言，洛布的基金持有头寸的时间略超过 13 个月，而 Third Point 在 Meta 的持股是在 2023 年第三季度开始的。在此期间，Meta 的股票价格翻了一番，洛布有充分的理由兑现利润。</p>
<p>问题是：这次出售活动背后是否有比单纯的获利了结更不寻常的原因？</p>
<p>一个担忧是美国经济可能陷入衰退。尽管纽约联邦储备银行的衰退概率工具仅显示到 2026 年 6 月发生衰退的概率为 28.7%，但当这一概率超过 32% 时，它在成功预测经济衰退方面有着惊人的记录，而这一概率在 2023 年和 2024 年确实超过了 32%。纽约联储的衰退概率指标上一次提供错误的积极信号是在 1966 年 10 月。</p>
<p>虽然大多数股票在衰退期间往往受到不利影响，但 Meta 尤其脆弱，因为其近 98% 的净销售额来自广告。企业在出现问题的第一迹象时往往会削减营销预算。</p>
<p>丹·洛布也可能对 Meta 未来的股票表现持怀疑态度，因为首席执行官马克·扎克伯格计划在 AI 数据中心基础设施上进行大规模投资。尽管扎克伯格在开发新产品并在时机合适时实现盈利方面有着出色的记录，但他一直在不断提高公司预计的资本支出（capex）。Meta 对 2025 年的资本支出预测在 640 亿美元到 720 亿美元之间，比公司之前的指导中值增加了 55 亿美元。</p>
<p>考虑到整体股票市场的高估，华尔街和投资者对错误的容忍度很低。Meta Platforms 在其之前的预测基础上在 AI 基础设施上花费数十亿美元，给失望留下了空间。</p>
<p>虽然我不责怪丹·洛布锁定利润，但我最终相信，当他在多年后回顾时，会后悔退出这个头寸。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvcm9ja2V0LWNvaW5zLWNhbGN1bGF0b3ItZmluYW5jaWFsLW1ldHJpY3MtdG8tbW9vbi1jcnlwdG8taW52ZXN0LWdldHR5LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvcm9ja2V0LWNvaW5zLWNhbGN1bGF0b3ItZmluYW5jaWFsLW1ldHJpY3MtdG8tbW9vbi1jcnlwdG8taW52ZXN0LWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>Third Point 的亿万富翁投资者购买了一只高速增长的股票</h2>
<p>不包括期权，Third Point 截至 3 月的 13F 显示，亿万富翁丹·洛布开设了 10 个新头寸，其中没有哪个比 AI 革命的代表 <strong>Nvidia</strong>（NVDA -2.42%）更引人注目。</p>
<p>在第一季度，洛布购买了 145 万股 Nvidia，这是他的基金自 2023 年第二季度以来首次持有这家 AI 领导者的股票。</p>
<p>显而易见，人工智能作为一项技术的全球潜力是非凡的。赋予 AI 的软件和系统能够在没有人类监督的情况下做出瞬间决策，这对全球大多数行业来说都是一场游戏规则的改变。根据联合国贸易和发展会议的估计，全球 AI 市场预计将从 2023 年的 1890 亿美元飙升至 2033 年的 4.8 万亿美元。这是十年内增长 25 倍，对于在家里打分的人来说。</p>
<p>Nvidia 成为华尔街最大的上市公司，反映出其 Hopper 和 Blackwell 图形处理单元（GPU）在 AI 加速数据中心中的主导地位。由于对 AI-GPU 的需求远远超过供应，Nvidia 不仅能够在年比年基础上销售更多的 GPU，还能够对其直接外部竞争对手收取超过 100% 的溢价。不出所料，随着 AI 革命的展开，Nvidia 的毛利率飙升。</p>
<p>第三点的亿万富翁投资者可能也对英伟达的创新时间表感到兴奋。首席执行官黄仁勋预计每年将推出一款新的先进 AI 芯片。如果一切顺利，Blackwell Ultra（2025 年）、Vera Rubin（2026 年）和 Vera Rubin Ultra（2027 年）将继承 Hopper 和 Blackwell 的步伐。关键在于，英伟达的计算优势似乎是不可动摇的。</p>
<p>另一个让英伟达持续发展的因素是其顶级的 CUDA 软件平台。这是开发者用来最大化其英伟达 GPU 计算潜力的工具，同时也是构建和训练大型语言模型的基础。CUDA 在默默地出色地保持着英伟达客户对其产品和服务生态系统的忠诚。</p>
<p>但可以说，使这次购买引人注目的原因在于其时机。在过去的三十多年里，每一次颠覆性的创新都经历过早期泡沫破裂事件。尽管人工智能展现出巨大的潜力，但大多数企业尚未接近优化其 AI 解决方案。随着迹象表明 AI 可能是漫长泡沫历史中的下一个，英伟达的股票最终可能会崩溃。</p>
<p>洛布的购买也很有趣，因为它是在 AI 领域竞争激烈的背景下进行的。虽然大多数投资者密切关注直接的外部竞争，但对英伟达最大的威胁可能来自内部。许多按净销售额计算的最大客户正在为其数据中心内部开发 AI-GPU。这些芯片在计算能力上虽然不及英伟达的硬件，但显著更便宜且更易获得。它们可以减少 AI-GPU 的稀缺性，降低英伟达的定价能力和利润率，并缩小其在 AI 加速数据中心的未来机会。</p>
<p>如果这最终只是第三点首席的快速交易，那也不会让人感到惊讶。</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>亿万富翁丹·洛布已经出售了第三点公司在 Meta Platforms 的全部股份，清算了 665,000 股，可能是为了获利，因为该股票自他首次投资以来已经翻倍。对潜在经济衰退的担忧以及 Meta 对广告收入的高度依赖可能影响了这一决定。与此同时，洛布已投资于英伟达，收购了 145 万股，标志着他对人工智能领域的重新关注，该领域预计在未来几年将实现显著增长</p>

<p>Between earnings season -- the six-week period every quarter where a majority of the most-influential businesses report their operating results -- economic data releases, and updates from the Trump administration, keeping up on market-moving news events can be challenging for investors. In fact, it's easy for something of importance to slip through the cracks.</p>
<div class="lb-trans"><p>在财报季节——每个季度的六周期间，大多数最具影响力的企业报告其运营结果——经济数据发布和特朗普政府的更新之间，跟踪市场动态新闻事件对投资者来说可能是一个挑战。事实上，重要信息很容易被忽视。</p>
</div><p>One key data release that investors might have overlooked is the May 15 deadline for institutional investors with at least $100 million in assets under management to file Form 13F with the Securities and Exchange Commission. A 13F is required to be filed no later than 45 calendar days following the end to a quarter, and it provides investors with a concise snapshot of which stocks Wall Street's top-tier asset managers have been buying and selling.</p>
<div class="lb-trans"><p>投资者可能忽视的一个关键数据发布是，资产管理规模至少为 1 亿美元的机构投资者必须在 5 月 15 日之前向证券交易委员会提交 13F 表格。13F 表格必须在季度结束后的 45 个日历日内提交，提供了华尔街顶级资产管理者买卖哪些股票的简明快照。</p>
</div><p>Though 13Fs have their flaws -- e.g., they can offer a stale snapshot for very active hedge funds -- they're invaluable in helping investors piece together which stocks and trends have the undivided attention of successful fund managers.</p>
<div class="lb-trans"><p>尽管 13F 表格存在缺陷——例如，它们可能为非常活跃的对冲基金提供过时的快照——但它们在帮助投资者拼凑出哪些股票和趋势受到成功基金经理的高度关注方面是无价的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825824%2Fmoney-manager-stock-chart-reflection-glasses-laptop-buy-sell-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>While investors tend to wait on the edge of their seat to see what billionaire Warren Buffett has been up to, he's far from the only billionaire known to make waves in the stock market. Third Point's Dan Loeb is another billionaire asset manager known for spotting good deals.</p>
<div class="lb-trans"><p>虽然投资者通常急切地等待亿万富翁沃伦·巴菲特的动向，但他并不是唯一一个在股市中引起波动的亿万富翁。Third Point 的丹·洛布（Dan Loeb）也是一位以发现好交易而闻名的亿万富翁资产管理者。</p>
</div><p>During the March-ended quarter, Third Point's billionaire chief made two curious trades in the artificial intelligence (AI) arena. He sent his fund's entire stake in <strong>Meta Platforms</strong>(META -0.98%) packing, and loaded up on shares of an undisputed AI leader whose addressable market can potentially grow 25-fold over a 10-year stretch.</p>
<div class="lb-trans"><p>在截至 3 月的季度中，Third Point 的亿万富翁首席执行官在人工智能（AI）领域进行了两笔引人注目的交易。他将其基金在 <strong>Meta Platforms</strong>（META -0.98%）的全部股份抛售，并大量购买了一家无可争议的 AI 领导者的股票，该公司的可寻址市场在 10 年内可能增长 25 倍。</p>
</div><h2>Billionaire Dan Loeb's Third Point logs out of Meta</h2>
<div class="lb-trans"><h2>亿万富翁丹·洛布的 Third Point 退出 Meta</h2>
</div><p>Based on Third Point's 13F, Loeb completely exited nine positions during the first quarter, none of which is more of an eyebrow-raiser than social media titan Meta Platforms. Loeb green-lit the sale of all 665,000 shares that were held at the end of 2024.</p>
<div class="lb-trans"><p>根据 Third Point 的 13F，洛布在第一季度完全退出了九个头寸，其中没有哪个比社交媒体巨头 Meta Platforms 更引人注目。洛布批准出售了截至 2024 年底持有的所有 665,000 股。</p>
</div><p>It's quite possible that this sale represented nothing more than a profit-taking opportunity for Third Point's billionaire chief. On average, Loeb's fund holds its positions for a little over 13 months, and Third Point's Meta stake had been initiated during the third quarter of 2023. With Meta stock more than doubling during this period, Loeb had plenty of reason to cash in his chips.</p>
<div class="lb-trans"><p>这笔出售很可能只是 Third Point 的亿万富翁首席执行官的获利机会。平均而言，洛布的基金持有头寸的时间略超过 13 个月，而 Third Point 在 Meta 的持股是在 2023 年第三季度开始的。在此期间，Meta 的股票价格翻了一番，洛布有充分的理由兑现利润。</p>
</div><p>The question is: Was something more nefarious behind this selling activity than just benign profit-taking?</p>
<div class="lb-trans"><p>问题是：这次出售活动背后是否有比单纯的获利了结更不寻常的原因？</p>
</div><p>One concern is the potential for the U.S. economy to fall into a recession. Though the New York Federal Reserve's recession probability tool only shows 28.7% chance of a recession occurring through June 2026, it has an uncanny track record of successfully forecasting economic downturns when this probability climbs above 32%, which it did in 2023 and 2024. The last time the New York Fed's recession probability indicator provided a false positive was October 1966.</p>
<div class="lb-trans"><p>一个担忧是美国经济可能陷入衰退。尽管纽约联邦储备银行的衰退概率工具仅显示到 2026 年 6 月发生衰退的概率为 28.7%，但当这一概率超过 32% 时，它在成功预测经济衰退方面有着惊人的记录，而这一概率在 2023 年和 2024 年确实超过了 32%。纽约联储的衰退概率指标上一次提供错误的积极信号是在 1966 年 10 月。</p>
</div><p>While most stocks tend to be adversely impacted by recessions, Meta is particularly vulnerable since almost 98% of its net sales derive from advertising. Businesses aren't shy about paring their marketing budgets at the first signs of trouble.</p>
<div class="lb-trans"><p>虽然大多数股票在衰退期间往往受到不利影响，但 Meta 尤其脆弱，因为其近 98% 的净销售额来自广告。企业在出现问题的第一迹象时往往会削减营销预算。</p>
</div><p>It's also possible Dan Loeb was skeptical of Meta's future stock performance given CEO Mark Zuckerberg's plans to spend aggressively on AI-data center infrastructure. Despite Zuckerberg's phenomenal track record of developing new products and monetizing them only when the time is right, he's been consistently upping his company's projected capital expenditures (capex). Meta's capex forecast for 2025 slots in between $64 billion and $72 billion, which is up $5.5 billion at the midpoint from the company's prior guidance.</p>
<div class="lb-trans"><p>丹·洛布也可能对 Meta 未来的股票表现持怀疑态度，因为首席执行官马克·扎克伯格计划在 AI 数据中心基础设施上进行大规模投资。尽管扎克伯格在开发新产品并在时机合适时实现盈利方面有着出色的记录，但他一直在不断提高公司预计的资本支出（capex）。Meta 对 2025 年的资本支出预测在 640 亿美元到 720 亿美元之间，比公司之前的指导中值增加了 55 亿美元。</p>
</div><p>Considering how pricey the stock market is as a whole, Wall Street and investors have little tolerance for mistakes. Meta Platforms spending billions on AI infrastructure above its prior forecast leaves the door open for disappointment.</p>
<div class="lb-trans"><p>考虑到整体股票市场的高估，华尔街和投资者对错误的容忍度很低。Meta Platforms 在其之前的预测基础上在 AI 基础设施上花费数十亿美元，给失望留下了空间。</p>
</div><p>While I don't fault Dan Loeb for locking in his profits, I ultimately believe he'll regret exiting this position when looking back years from now.</p>
<div class="lb-trans"><p>虽然我不责怪丹·洛布锁定利润，但我最终相信，当他在多年后回顾时，会后悔退出这个头寸。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU4MjQvcm9ja2V0LWNvaW5zLWNhbGN1bGF0b3ItZmluYW5jaWFsLW1ldHJpY3MtdG8tbW9vbi1jcnlwdG8taW52ZXN0LWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825824%2Frocket-coins-calculator-financial-metrics-to-moon-crypto-invest-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>Third Point's billionaire investor scooped up shares of a hypergrowth stock</h2>
<div class="lb-trans"><h2>Third Point 的亿万富翁投资者购买了一只高速增长的股票</h2>
</div><p>Excluding options, Third Point's 13F from the March-ended quarter shows billionaire Dan Loeb opened 10 new positions, none of which offers more intrigue than the face of the AI revolution, <strong>Nvidia</strong>(NVDA -2.42%).</p>
<div class="lb-trans"><p>不包括期权，Third Point 截至 3 月的 13F 显示，亿万富翁丹·洛布开设了 10 个新头寸，其中没有哪个比 AI 革命的代表 <strong>Nvidia</strong>（NVDA -2.42%）更引人注目。</p>
</div><p>During the first quarter, Loeb scooped up 1.45 million shares of Nvidia, which marks the first time his fund has held shares of this AI leader since the second quarter of 2023.</p>
<div class="lb-trans"><p>在第一季度，洛布购买了 145 万股 Nvidia，这是他的基金自 2023 年第二季度以来首次持有这家 AI 领导者的股票。</p>
</div><p>To state the obvious, the global potential for artificial intelligence as a technology is otherworldly. The ability for software and systems empowered with AI to make split-second decisions without human oversight is a game-changer for most industries around the world. Based on estimates from UN Trade and Development, the global AI market is projected to skyrocket from a reported $189 billion in 2023 to $4.8 trillion come 2033. That's a 25X increase in a decade, for those of you keeping score at home.</p>
<div class="lb-trans"><p>显而易见，人工智能作为一项技术的全球潜力是非凡的。赋予 AI 的软件和系统能够在没有人类监督的情况下做出瞬间决策，这对全球大多数行业来说都是一场游戏规则的改变。根据联合国贸易和发展会议的估计，全球 AI 市场预计将从 2023 年的 1890 亿美元飙升至 2033 年的 4.8 万亿美元。这是十年内增长 25 倍，对于在家里打分的人来说。</p>
</div><p>Nvidia becoming Wall Street's largest publicly traded company is a reflection of just how dominant its Hopper and Blackwell graphics processing units (GPUs) have been in AI-accelerated data centers. With demand for AI-GPUs significantly outweighing their supply, Nvidia has been able to not only sell more GPUs on a year-over-year basis, but also charge a 100%-plus premium to its direct external rivals. Not surprisingly, Nvidia's gross margin soared as the AI revolution took shape.</p>
<div class="lb-trans"><p>Nvidia 成为华尔街最大的上市公司，反映出其 Hopper 和 Blackwell 图形处理单元（GPU）在 AI 加速数据中心中的主导地位。由于对 AI-GPU 的需求远远超过供应，Nvidia 不仅能够在年比年基础上销售更多的 GPU，还能够对其直接外部竞争对手收取超过 100% 的溢价。不出所料，随着 AI 革命的展开，Nvidia 的毛利率飙升。</p>
</div><p>Third Point's billionaire investor might also be excited about Nvidia's innovation timeline. CEO Jensen Huang expects to bring a new advanced AI chip to market annually. If all goes according to plan, Blackwell Ultra (2025), Vera Rubin (2026), and Vera Rubin Ultra (2027) will follow in the footsteps of Hopper and Blackwell. The key point here is that Nvidia's compute advantages appear untouchable.</p>
<div class="lb-trans"><p>第三点的亿万富翁投资者可能也对英伟达的创新时间表感到兴奋。首席执行官黄仁勋预计每年将推出一款新的先进 AI 芯片。如果一切顺利，Blackwell Ultra（2025 年）、Vera Rubin（2026 年）和 Vera Rubin Ultra（2027 年）将继承 Hopper 和 Blackwell 的步伐。关键在于，英伟达的计算优势似乎是不可动摇的。</p>
</div><p>The other factor that's kept Nvidia humming along is its premier CUDA software platform. This is what developers use to maximize the compute potential of their Nvidia GPUs, as well as to build and train large language models. CUDA is quietly doing a phenomenal job of keeping Nvidia's clients loyal to its ecosystem of products and services.</p>
<div class="lb-trans"><p>另一个让英伟达持续发展的因素是其顶级的 CUDA 软件平台。这是开发者用来最大化其英伟达 GPU 计算潜力的工具，同时也是构建和训练大型语言模型的基础。CUDA 在默默地出色地保持着英伟达客户对其产品和服务生态系统的忠诚。</p>
</div><p>But what, arguably, makes this buy intriguing is its timing. For more than three decades, every game-changing innovation has worked its way through an early stage bubble-bursting event. Though artificial intelligence shows plenty of promise, most businesses haven't come anywhere close to optimizing their AI solutions as of yet. With signs pointing to AI being the next in a long line of bubbles, Nvidia stock could eventually crumble.</p>
<div class="lb-trans"><p>但可以说，使这次购买引人注目的原因在于其时机。在过去的三十多年里，每一次颠覆性的创新都经历过早期泡沫破裂事件。尽管人工智能展现出巨大的潜力，但大多数企业尚未接近优化其 AI 解决方案。随着迹象表明 AI 可能是漫长泡沫历史中的下一个，英伟达的股票最终可能会崩溃。</p>
</div><p>Loeb's buy is also interesting in the sense that it comes as competition in the AI space is exploding. While most investors are paying close attention to direct external competition, the biggest threat to Nvidia likely comes from within. Many of its largest customers by net sales are internally developing AI-GPUs for their data centers. These chips, while inferior on a compute basis to Nvidia's hardware, are notably cheaper and more readily accessible. They can minimize AI-GPU scarcity, reduce Nvidia's pricing power and margins, and narrow its future opportunities in AI-accelerated data centers.</p>
<div class="lb-trans"><p>洛布的购买也很有趣，因为它是在 AI 领域竞争激烈的背景下进行的。虽然大多数投资者密切关注直接的外部竞争，但对英伟达最大的威胁可能来自内部。许多按净销售额计算的最大客户正在为其数据中心内部开发 AI-GPU。这些芯片在计算能力上虽然不及英伟达的硬件，但显著更便宜且更易获得。它们可以减少 AI-GPU 的稀缺性，降低英伟达的定价能力和利润率，并缩小其在 AI 加速数据中心的未来机会。</p>
</div><p>It wouldn't be a surprise if this turned out to be nothing more than a quick trade for Third Point's chief.</p>
<div class="lb-trans"><p>如果这最终只是第三点首席的快速交易，那也不会让人感到惊讶。</p>
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Billionaire Dan Loeb Sold Third Point's Entire Stake in Meta Platforms and Has Piled Into a Market Leader Whose Addressable Market Can 25X in a Decade

- 投资者需关注 5 月 15 日的 13F 表格提交截止日期。  
- Dan Loeb 在第一季度退出 Meta，增持 Nvidia 股票。  
- Nvidia 的 AI 市场潜力巨大，但竞争加剧可能影响其未来表现。

亿万富翁丹·勒布已经出售了 Third Point 在 Meta Platforms 的全部股份，并投资于一个市场领导者，该领导者的可服务市场在十年内可能增长 25 倍