<p><strong>英伟达</strong>(NVDA -1.27%) 对投资其客户并不陌生。该公司已投入数十亿美元以扩展人工智能 (AI) 生态系统，旨在从其核心增长市场获得更多的增长和投资。该公司与 <strong>OpenAI</strong>（ChatGPT 的制造商）达成的最新交易就是这一战略的典型例子。</p>
<h2>这笔交易对英伟达和 OpenAI 的意义</h2>
<p>首先要了解的是，这笔交易仅仅是一封意向书。这意味着该合作关系是非约束性的，双方没有法律义务按照下面讨论的交易框架执行。尽管这笔交易是非约束性的，但合作的精神是明确的：英伟达和 OpenAI 将紧密合作，以促进彼此的业务发展。</p>
<p>接下来，我们来讨论一下你可能在头条新闻中看到的数字。例如，英伟达承诺向 OpenAI 投资 1000 亿美元。然而，细节描绘的情况与头条新闻略有不同。这笔交易本质上概述了 OpenAI 打算购买英伟达硬件，以进行大规模的多年基础设施建设。根据新闻稿，OpenAI 打算 “建设和部署至少 10 吉瓦的 AI 数据中心，使用英伟达系统，代表数百万个 GPU，用于 OpenAI 的下一代 AI 基础设施。” 作为回报，英伟达将分批投资 OpenAI 的股权，每一轮资金的发放将随着基础设施的逐步扩展而启动。</p>
<p>OpenAI 从这次合作中获得了两样东西。首先，它获得了以现金换取股权的资金。其次，它在技术采购方面获得了英伟达的优待。英伟达的芯片需求量很大，曾一度面临 12 个月的运输延迟。OpenAI 现在获得了长期的战略优势，能够以全球最佳的芯片扩展其基础设施，而竞争对手可能无法获得这些芯片。</p>
<p>与此同时，英伟达获得了更强大的订单积压。它锁定了一个巨大的客户，未来几年将持续合作。这也有助于加速 AI 基础设施的建设——这对其业务是另一个长期的利好因素。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ1NDMvZ2V0dHlpbWFnZXMtMTQ0NzQ4NDk1MC0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="467" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ1NDMvZ2V0dHlpbWFnZXMtMTQ0NzQ4NDk1MC0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>你应该再买入更多英伟达股票吗？</h2>
<p>这是一笔只有英伟达和 OpenAI 能够达成的交易。两者都是行业巨头，拥有相当大的竞争优势。通过联手，两家公司有望在竞争中获得更大的优势。</p>
<p>仅仅因为这笔交易，你应该购买英伟达的股票吗？可能不应该。如前所述，这笔交易仅仅是一个意向信号。没有任何法律约束。此外，这一合作可能会引起监管机构的关注。根据路透社的报道：</p>
<blockquote>
<p>英伟达最新承诺的规模可能会引起反垄断审查。司法部和联邦贸易委员会在 2024 年中达成了一项协议，为对 <strong>微软</strong>、OpenAI 和英伟达在 AI 行业中的角色进行潜在调查铺平了道路。然而，特朗普政府迄今为止对竞争问题的处理比拜登政府要宽松。</p>
</blockquote>
<p>即使由于监管机构或外部影响而对交易进行更改，投资者也应该对英伟达能够达成这样的交易持非常乐观的态度。它在现实世界的芯片性能、资本获取和行业影响力方面领先竞争对手。通过这样的举措，公司确保其主导市场份额有可能在未来继续保持。因此，尽管仅凭与 OpenAI 的交易，股票并不值得购买，但投资者应将这一消息视为对英伟达未来的强烈积极信号。</p>

OpenAI

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>英伟达宣布了一份非约束性的意向书，计划向 OpenAI 投资 1000 亿美元，主要用于 OpenAI 购买英伟达的硬件以用于人工智能数据中心。此次合作旨在增强两家公司的能力，OpenAI 将获得对英伟达芯片的优先访问权。尽管该交易表明了强有力的合作，但可能会引起监管机构的关注。投资者被建议对这一发展持积极态度，认为这对英伟达的未来有利，尽管仅凭这一交易可能不足以立即进行股票购买</p>

<p><strong>Nvidia</strong>(NVDA -1.27%) is no stranger to investing in its customers. The company has put billions to work to expand the artificial intelligence (AI) ecosystem, aiming for more growth and investment from its core growth market. The company's latest deal with OpenAI -- the maker of ChatGPT -- is a prime example of this strategy.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA -1.27%) 对投资其客户并不陌生。该公司已投入数十亿美元以扩展人工智能 (AI) 生态系统，旨在从其核心增长市场获得更多的增长和投资。该公司与 <strong>OpenAI</strong>（ChatGPT 的制造商）达成的最新交易就是这一战略的典型例子。</p>
</div><h2>Here's what the deal between Nvidia and OpenAI means</h2>
<div class="lb-trans"><h2>这笔交易对英伟达和 OpenAI 的意义</h2>
</div><p>The first thing to understand about this deal is that it is simply a letter of intent. That means the partnership is non-binding, with no legal obligation for either of the companies to follow through on the deal framework discussed below. Even if the deal is non-binding, however, the spirit of the partnership is clear: Nvidia and OpenAI will be working closely together to enable each other's businesses.</p>
<div class="lb-trans"><p>首先要了解的是，这笔交易仅仅是一封意向书。这意味着该合作关系是非约束性的，双方没有法律义务按照下面讨论的交易框架执行。尽管这笔交易是非约束性的，但合作的精神是明确的：英伟达和 OpenAI 将紧密合作，以促进彼此的业务发展。</p>
</div><p>Next, let's discuss the figures you may have seen in the headlines. Nvidia, for example, has pledged to invest $100 billion into OpenAI. The details, however, paint a slightly different picture than the headlines. What the deal essentially outlines is OpenAI's intention to purchase Nvidia hardware for a massive, multiyear infrastructure buildout. According to a press release, OpenAI intends to &#34;build and deploy at least 10 gigawatts of AI data centers with NVIDIA systems representing millions of GPUs for OpenAI's next-generation AI infrastructure.&#34; In return, Nvidia will invest in OpenAI equity in tranches, with each funding tranche being initiated as the infrastructure gradually expands.</p>
<div class="lb-trans"><p>接下来，我们来讨论一下你可能在头条新闻中看到的数字。例如，英伟达承诺向 OpenAI 投资 1000 亿美元。然而，细节描绘的情况与头条新闻略有不同。这笔交易本质上概述了 OpenAI 打算购买英伟达硬件，以进行大规模的多年基础设施建设。根据新闻稿，OpenAI 打算 “建设和部署至少 10 吉瓦的 AI 数据中心，使用英伟达系统，代表数百万个 GPU，用于 OpenAI 的下一代 AI 基础设施。” 作为回报，英伟达将分批投资 OpenAI 的股权，每一轮资金的发放将随着基础设施的逐步扩展而启动。</p>
</div><p>OpenAI gets two things from this partnership. First, it gets funding in the form of direct cash for equity. Second, it gets preferential treatment from Nvidia when it comes to technology sourcing. Nvidia's chips are in high demand, at one point facing 12-month shipping delays. OpenAI has now secured a long-term strategic advantage, gaining the ability to scale its infrastructure with the best chips on the planet, chips that the competition may not be able to source.</p>
<div class="lb-trans"><p>OpenAI 从这次合作中获得了两样东西。首先，它获得了以现金换取股权的资金。其次，它在技术采购方面获得了英伟达的优待。英伟达的芯片需求量很大，曾一度面临 12 个月的运输延迟。OpenAI 现在获得了长期的战略优势，能够以全球最佳的芯片扩展其基础设施，而竞争对手可能无法获得这些芯片。</p>
</div><p>Nvidia, meanwhile, gains an even stronger backlog. It locks in a huge customer for years to come. It also helps fund an accelerated buildout of AI infrastructure -- another long-term tailwind for its business.</p>
<div class="lb-trans"><p>与此同时，英伟达获得了更强大的订单积压。它锁定了一个巨大的客户，未来几年将持续合作。这也有助于加速 AI 基础设施的建设——这对其业务是另一个长期的利好因素。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQ1NDMvZ2V0dHlpbWFnZXMtMTQ0NzQ4NDk1MC0xMjAweDgwMC01YjJkZjc5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834543%2Fgettyimages-1447484950-1200x800-5b2df79.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>Should you buy even more Nvidia stock?</h2>
<div class="lb-trans"><h2>你应该再买入更多英伟达股票吗？</h2>
</div><p>This is the type of deal that only Nvidia and OpenAI could pull off. Both are industry heavyweights with sizable competitive advantages. By joining forces, both companies stand to gain even more ground on the competition.</p>
<div class="lb-trans"><p>这是一笔只有英伟达和 OpenAI 能够达成的交易。两者都是行业巨头，拥有相当大的竞争优势。通过联手，两家公司有望在竞争中获得更大的优势。</p>
</div><p>Should you buy stock in Nvidia due to this deal alone? Probably not. The deal, as mentioned, is simply a signal of intent. Nothing is legally binding. Plus, the tie-up could draw the scrutiny of regulators. According to Reuters:</p>
<div class="lb-trans"><p>仅仅因为这笔交易，你应该购买英伟达的股票吗？可能不应该。如前所述，这笔交易仅仅是一个意向信号。没有任何法律约束。此外，这一合作可能会引起监管机构的关注。根据路透社的报道：</p>
</div><blockquote>
<p>The scale of Nvidia's latest commitment could attract antitrust scrutiny. The Justice Department and Federal Trade Commission reached a deal in mid-2024 that cleared the way for potential probes into the roles of <strong>Microsoft</strong>, OpenAI and Nvidia in the AI industry. However, the Trump administration has so far taken a lighter approach to competition issues than the Biden administration.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>英伟达最新承诺的规模可能会引起反垄断审查。司法部和联邦贸易委员会在 2024 年中达成了一项协议，为对 <strong>微软</strong>、OpenAI 和英伟达在 AI 行业中的角色进行潜在调查铺平了道路。然而，特朗普政府迄今为止对竞争问题的处理比拜登政府要宽松。</p>
</blockquote>
</div><p>Even if there are changes to the deal due to regulators or external influences, investors should be very bullish simply about Nvidia's ability to forge such a deal. It has a huge lead on the competition when it comes to real-world chip performance, access to capital, and industry influence. By making moves like this, the company is ensuring that its dominant market shares have the possibility of continuing far into the future. So while shares aren't a buy simply due to the deal with OpenAI, investors should take this news as a strong positive for Nvidia's future.</p>
<div class="lb-trans"><p>即使由于监管机构或外部影响而对交易进行更改，投资者也应该对英伟达能够达成这样的交易持非常乐观的态度。它在现实世界的芯片性能、资本获取和行业影响力方面领先竞争对手。通过这样的举措，公司确保其主导市场份额有可能在未来继续保持。因此，尽管仅凭与 OpenAI 的交易，股票并不值得购买，但投资者应将这一消息视为对英伟达未来的强烈积极信号。</p>
</div>

Nvidia Just Announced a Record $100 Billion Deal With OpenAI -- Here's What It Means for Investors

- Nvidia 与 OpenAI 签署意向书，计划投资 1000 亿美元。  
- OpenAI 将购买 Nvidia 硬件以建设 AI 数据中心，获得资金和技术优势。  
- 此合作可能引发反垄断审查，但对 Nvidia 未来发展是积极信号。  

英伟达刚刚宣布与 OpenAI 达成了一项创纪录的 1000 亿美元交易——这对投资者意味着什么