<p><strong>英伟达</strong>（NVDA 0.56%）在过去几年中建立了一个人工智能（AI）芯片帝国。最初以为视频游戏市场提供芯片而闻名，英伟达转向专注于人工智能，这已成为其关键业务。这被证明是一个明智的举动，因为它为公司带来了巨大的收入增长——例如，过去十年年收入增长了 2500%。</p>
<p>这家科技公司在其他公司之前进入市场，确保了其领导地位，而其持续的创新也保持了这一地位。然而，一些投资者担心英伟达在未来几年将面临来自其他芯片设计师以及自身客户的竞争——一些客户，如 <strong>亚马逊</strong>，已经开发了自己的芯片，并与其他芯片公司的产品一起使用和销售。</p>
<p>你应该担心英伟达在人工智能市场的领导地位吗？英伟达首席执行官黄仁勋的以下 21 个字给出了一个非常明确的答案。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NDU2MDAvZ2V0dHlpbWFnZXMtMTIwMzA0NDE1Ni5qcGcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2309" height="1299" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NDU2MDAvZ2V0dHlpbWFnZXMtMTIwMzA0NDE1Ni5qcGcmdz0zODQw"/></p>
<p>图片来源：Getty Images。</p>
<h2>对人工智能的早期投资</h2>
<p>不过，在深入探讨之前，让我们快速回顾一下英伟达的成功故事和竞争的增长。如前所述，英伟达通过开发适合这一技术需求的 图形处理单元（GPU）对人工智能芯片市场的潜力进行了早期投资。英伟达还扩大了其产品和服务的范围。所有这些使得收入飙升至创纪录的水平；例如，最新财年的收入超过了 1300 亿美元。英伟达在销售上也实现了高盈利，最近几个季度的毛利率一般保持在 70% 以上。</p>
<p>但是，如前所述，英伟达并不是人工智能芯片市场上唯一的参与者。它面临来自 <strong>超微半导体</strong> 和 <strong>博通</strong> 等芯片设计师的竞争，以及来自自身客户（如亚马逊）的竞争。公司的亚马逊网络服务（AWS）部门开发了自己的芯片系列，为注重成本的客户提供了选择。而 <strong>字母表</strong>（Alphabet），谷歌云的拥有者，也是英伟达的客户，并开发了自己的芯片。这些参与者在最近的财报中都提到了来自人工智能客户对这些产品的高需求。</p>
<p>广告</p>
<p>因此，显然，随着人工智能故事的发展，竞争可能是投资者担心的一个问题。在我们听取黄仁勋的评论之前，这里有一个关于公司人工智能芯片使用的重要说明。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="英伟达股票报价" width="80" height="80" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4"/></p>
<h2>NASDAQ: NVDA</h2>
<p>英伟达</p>
<p>今日变动</p>
<p>(-0.56%) $-1.03</p>
<p>当前价格</p>
<p>$182.35</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$4433B</p>
<p>日内区间</p>
<p>$180.92 - $184.65</p>
<p>52 周区间</p>
<p>$86.62 - $212.19</p>
<p>成交量</p>
<p>4.2M</p>
<p>平均成交量</p>
<p>190M</p>
<p>毛利率</p>
<p>70.05%</p>
<p>股息收益率</p>
<p>0.03%</p>
<h2>训练大型语言模型</h2>
<p>最初，英伟达的 GPU 被用于 大型语言模型（LLMs）的训练，使其获得信息或知识，以便能够回答问题或解决问题。现在仍然如此，但如今及未来，公司的高性能 GPU 也为 LLMs 提供了 “思考” 和 “推理” 所需的动力。这被称为 推理过程，英伟达正在押注这将成为人工智能芯片的一个主要增长领域。</p>
<p>英伟达的 Blackwell GPU 在最近的推理性能测试中，展现了在各模型和使用案例中最强的性能和最低的总拥有成本。应用于 DeepSeek R1 模型，Blackwell 在每瓦特性能上产生了 10 倍的提升，每个 token 的成本则降低了 10 倍（token 是训练和推理过程中处理的数据位）。这些测试由 AI 专家联盟 MLCommons 设计。</p>
<h2>黄仁勋的发言</h2>
<p>黄仁勋关于该性能的信息非常明确：</p>
<p>“在有人能够挑战之前，这将需要很长时间，” 黄仁勋在上个月的 财报电话会议 中表示。“我们的领导地位无疑是多年的。”</p>
<p>因此，英伟达继续为人工智能客户提供最强大的计算能力，这对许多希望快速实现目标并在成本节约和效率上获得收益的参与者至关重要。当然，市场上还有很多空间供英伟达的竞争对手争夺份额——某些客户可能不需要最强大的 GPU，甚至主要客户可能会在某些工作中更喜欢其他芯片，如博通的定制 AI 芯片。</p>
<p>但英伟达的芯片仍然是最强大的选择，公司对创新的承诺应该会保持这一点。同样重要的是，推理可能会变得非常重要，因为它涉及到为 LLMs 提供动力，使其执行任务。</p>
<p>让我们回到我们的问题：你应该担心英伟达的市场主导地位吗？黄仁勋最近的评论给出了一个非常明确的答案——“不”。这家科技巨头仍在轨道上，计划在推理这一有前景的领域长期占据市场主导地位。</p>

谷歌财报，一站看懂！

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>根据首席执行官黄仁勋的说法，尽管面临亚马逊和谷歌等公司的竞争，英伟达在人工智能芯片领域的领导地位依然稳固。英伟达在人工智能芯片上的早期投资带来了显著的收入增长和市场主导地位。黄仁勋在一次财报电话会议上的声明向投资者保证，英伟达在人工智能领域，特别是在推理过程中的多年来的领导地位，尤其是英伟达的 GPU 表现出色。尽管竞争对手可能会争夺市场份额，但英伟达对创新的承诺和强大的 GPU 确保了其在人工智能芯片市场的持续主导地位</p>

<p><strong>Nvidia</strong>( NVDA 0.56%) has built an artificial intelligence (AI) chip empire over the past several years. Originally known for serving the video game market with chips, Nvidia pivoted to focus on AI, and that has emerged as its key business. This has proven to be a smart move as it's fueled enormous revenue growth for the company -- for example, annual revenue has increased by 2,500% over the past decade.</p>
<div class="lb-trans"><p><strong>英伟达</strong>（NVDA 0.56%）在过去几年中建立了一个人工智能（AI）芯片帝国。最初以为视频游戏市场提供芯片而闻名，英伟达转向专注于人工智能，这已成为其关键业务。这被证明是一个明智的举动，因为它为公司带来了巨大的收入增长——例如，过去十年年收入增长了 2500%。</p>
</div><p>The tech company's entry into the market ahead of others secured its leadership, and its ongoing innovation has kept that going. Still, some investors have worried about Nvidia facing competition in the coming years, from other chip designers as well as its own customers -- some, such as <strong>Amazon</strong>, have developed their own chips that they use and sell along with those of other chip companies.</p>
<div class="lb-trans"><p>这家科技公司在其他公司之前进入市场，确保了其领导地位，而其持续的创新也保持了这一地位。然而，一些投资者担心英伟达在未来几年将面临来自其他芯片设计师以及自身客户的竞争——一些客户，如 <strong>亚马逊</strong>，已经开发了自己的芯片，并与其他芯片公司的产品一起使用和销售。</p>
</div><p>Should you worry about Nvidia's AI market leadership moving forward? The following 21 words from Nvidia chief Jensen Huang offer us a strikingly clear answer.</p>
<div class="lb-trans"><p>你应该担心英伟达在人工智能市场的领导地位吗？英伟达首席执行官黄仁勋的以下 21 个字给出了一个非常明确的答案。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NDU2MDAvZ2V0dHlpbWFnZXMtMTIwMzA0NDE1Ni5qcGcmdz0zODQw" alt="An investor looks pensively at something on a laptop in a home office." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F845600%2Fgettyimages-1203044156.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>An early bet on AI</h2>
<div class="lb-trans"><h2>对人工智能的早期投资</h2>
</div><p>Before diving in, though, let's take a quick look at the Nvidia success story and the growth of competition. As mentioned, Nvidia placed an early bet on the potential of the AI chip market by developing graphics processing units (GPUs) suited to the needs of this technology. And Nvidia has broadened its offerings to include a full range of products and services. All of this has resulted in revenue soaring to record levels; for example, revenue reached more than $130 billion in the latest fiscal year. And Nvidia also has reached high profitability on sales, generally maintaining gross margin above 70% in recent quarters.</p>
<div class="lb-trans"><p>不过，在深入探讨之前，让我们快速回顾一下英伟达的成功故事和竞争的增长。如前所述，英伟达通过开发适合这一技术需求的 图形处理单元（GPU）对人工智能芯片市场的潜力进行了早期投资。英伟达还扩大了其产品和服务的范围。所有这些使得收入飙升至创纪录的水平；例如，最新财年的收入超过了 1300 亿美元。英伟达在销售上也实现了高盈利，最近几个季度的毛利率一般保持在 70% 以上。</p>
</div><p>But, as mentioned, Nvidia isn't the only game in town when it comes to AI chips. It faces competition from chip designers such as <strong>Advanced Micro Devices</strong> and <strong>Broadcom,</strong> as well as its own customers, such as Amazon. The company's Amazon Web Services (AWS) unit has developed its own line of chips, offering an option to cost-conscious customers. And <strong>Alphabet</strong>, owner of Google Cloud, also is a Nvidia customer that's developed its own chips. These players, in recent earnings reports, each have spoken of high demand from AI customers for these products.</p>
<div class="lb-trans"><p>但是，如前所述，英伟达并不是人工智能芯片市场上唯一的参与者。它面临来自 <strong>超微半导体</strong> 和 <strong>博通</strong> 等芯片设计师的竞争，以及来自自身客户（如亚马逊）的竞争。公司的亚马逊网络服务（AWS）部门开发了自己的芯片系列，为注重成本的客户提供了选择。而 <strong>字母表</strong>（Alphabet），谷歌云的拥有者，也是英伟达的客户，并开发了自己的芯片。这些参与者在最近的财报中都提到了来自人工智能客户对这些产品的高需求。</p>
</div><p>Advertisement</p>
<div class="lb-trans"><p>广告</p>
</div><p>So, it's clear that competition could be something investors might worry about as this AI story develops. Before we get to the comment from Jensen Huang, here's one important note about the use of the company's AI chips.</p>
<div class="lb-trans"><p>因此，显然，随着人工智能故事的发展，竞争可能是投资者担心的一个问题。在我们听取黄仁勋的评论之前，这里有一个关于公司人工智能芯片使用的重要说明。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4" alt="Nvidia Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FNVDA.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: NVDA</h2>
<div class="lb-trans"><h2>NASDAQ: NVDA</h2>
</div><p>Nvidia</p>
<div class="lb-trans"><p>英伟达</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-0.56%) $-1.03</p>
<div class="lb-trans"><p>(-0.56%) $-1.03</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$182.35</p>
<div class="lb-trans"><p>$182.35</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$4433B</p>
<div class="lb-trans"><p>$4433B</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$180.92 - $184.65</p>
<div class="lb-trans"><p>$180.92 - $184.65</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$86.62 - $212.19</p>
<div class="lb-trans"><p>$86.62 - $212.19</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>4.2M</p>
<div class="lb-trans"><p>4.2M</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>190M</p>
<div class="lb-trans"><p>190M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>70.05%</p>
<div class="lb-trans"><p>70.05%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.03%</p>
<div class="lb-trans"><p>0.03%</p>
</div><h2>Training LLMs</h2>
<div class="lb-trans"><h2>训练大型语言模型</h2>
</div><p>Initially, Nvidia's GPUs were used to power the training of large language models (LLMs), so that they would gain the information or knowledge to go on and answer questions or solve problems. This still is the case, but today and moving forward, the company's high-powered GPUs also serve as the power LLMs need to &#34;think&#34; and &#34;reason.&#34; This is called the inference process, and Nvidia is betting that it will be a major growth area for AI chips.</p>
<div class="lb-trans"><p>最初，英伟达的 GPU 被用于 大型语言模型（LLMs）的训练，使其获得信息或知识，以便能够回答问题或解决问题。现在仍然如此，但如今及未来，公司的高性能 GPU 也为 LLMs 提供了 “思考” 和 “推理” 所需的动力。这被称为 推理过程，英伟达正在押注这将成为人工智能芯片的一个主要增长领域。</p>
</div><p>Nvidia's Blackwell GPUs, in a recent test of their strength in inferencing, delivered the strongest performance and lowest total cost of ownership across models and use cases. Applied to the DeepSeek R1 model, Blackwell generated a 10 times higher performance per watt and 10 times lower cost per token compared to Nvidia's Hopper-driven chips. (Tokens are bits of data handled during training and inferencing.) These tests are designed by MLCommons, a consortium of AI experts.</p>
<div class="lb-trans"><p>英伟达的 Blackwell GPU 在最近的推理性能测试中，展现了在各模型和使用案例中最强的性能和最低的总拥有成本。应用于 DeepSeek R1 模型，Blackwell 在每瓦特性能上产生了 10 倍的提升，每个 token 的成本则降低了 10 倍（token 是训练和推理过程中处理的数据位）。这些测试由 AI 专家联盟 MLCommons 设计。</p>
</div><h2>Words from Jensen Huang</h2>
<div class="lb-trans"><h2>黄仁勋的发言</h2>
</div><p>Jensen Huang's message regarding that performance is clear:</p>
<div class="lb-trans"><p>黄仁勋关于该性能的信息非常明确：</p>
</div><p>&#34;It's gonna take a long time before somebody is able to take that on,&#34; Huang said during the company's earnings call last month. &#34;And our leadership there is surely multiyear.&#34;</p>
<div class="lb-trans"><p>“在有人能够挑战之前，这将需要很长时间，” 黄仁勋在上个月的 财报电话会议 中表示。“我们的领导地位无疑是多年的。”</p>
</div><p>So, Nvidia continues to offer AI customers the most powerful compute, and that matters to many players that aim to reach their goals fast -- and gain in cost savings and efficiency over time. Of course, there is plenty of room in the market for Nvidia competitors to carve out share -- certain customers may not require the most powerful GPU, and even major customers might prefer other chips, such as Broadcom's custom AI chips, for certain jobs.</p>
<div class="lb-trans"><p>因此，英伟达继续为人工智能客户提供最强大的计算能力，这对许多希望快速实现目标并在成本节约和效率上获得收益的参与者至关重要。当然，市场上还有很多空间供英伟达的竞争对手争夺份额——某些客户可能不需要最强大的 GPU，甚至主要客户可能会在某些工作中更喜欢其他芯片，如博通的定制 AI 芯片。</p>
</div><p>But Nvidia chips continue to stand out as the most powerful option, and the company's commitment to innovation should keep that going. It's also important to note that inferencing could be big, since it involves the powering of LLMs as they carry out their tasks.</p>
<div class="lb-trans"><p>但英伟达的芯片仍然是最强大的选择，公司对创新的承诺应该会保持这一点。同样重要的是，推理可能会变得非常重要，因为它涉及到为 LLMs 提供动力，使其执行任务。</p>
</div><p>Let's get back to our question: Should you worry about Nvidia's market dominance? Huang's recent comment leads us to a strikingly clear answer -- &#34;no.&#34; The tech giant remains on track to dominate the market and win in the promising area of inferencing over the long term.</p>
<div class="lb-trans"><p>让我们回到我们的问题：你应该担心英伟达的市场主导地位吗？黄仁勋最近的评论给出了一个非常明确的答案——“不”。这家科技巨头仍在轨道上，计划在推理这一有前景的领域长期占据市场主导地位。</p>
</div>

Should You Worry About Nvidia's AI Market Leadership? 21 Words From Jensen Huang Offer a Strikingly Clear Answer.

- Nvidia 在人工智能芯片市场取得显著成功，年收入增长 2,500%。  
- 竞争对手如亚马逊和谷歌云也在开发自有芯片，可能影响市场格局。  
- Jensen Huang 表示，Nvidia 的市场领导地位将持续多年。  

你是否应该担心英伟达在 AI 市场的领导地位？黄仁勋的 21 个字给出了一个非常清晰的答案