<p>上週四，8 月 14 日，標誌着第三季度對投資者來説最重要的日子之一。儘管財報和經濟數據的發佈幾乎是每天都在發生，但向證券交易委員會（SEC）提交的 13F 表格的季度申報對投資者來説是非常寶貴的。</p>
<p>在季度結束後的 45 個日曆日內（對於 6 月結束的季度來説是 8 月 14 日），管理資產至少為 1 億美元的機構投資者必須向 SEC 提交 13F 表格。這份申報使投資者能夠追蹤華爾街領先基金經理在最新季度購買和出售了哪些股票。換句話説，這是一種輕鬆的方式，可以找出哪些股票和趨勢引起了市場上最聰明的投資者的興趣。</p>
<p>儘管沃倫·巴菲特是華爾街上最受關注的資產管理者，但他並不是唯一一個以發現隱藏在明面上的驚人交易而聞名的億萬富翁。Appaloosa 的億萬富翁老闆大衞·泰珀也是另一位備受關注的基金經理。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<p>泰珀之所以值得關注，是因為他在人工智能（AI）領域的投資活動。華爾街主要指數在第二季度經歷了高度動盪，使得泰珀在其基金投資組合中的兩家知名公司上逆轉了方向。他在面對 AI 革命時幾乎將其在 <strong>Nvidia</strong>（NVDA 0.94%）的持倉增加了 6 倍，並在僅僅一個季度後完全退出了其基金在一隻熱門萬億級 AI 股票的持倉。</p>
<h2>億萬富翁大衞·泰珀在短短三個月內將其 Nvidia 持倉增加了 483%</h2>
<p>在第二季度之前，Appaloosa 的億萬富翁首席執行官一直是 Nvidia 股票的持續賣家。考慮到 Nvidia 在 2024 年 6 月的歷史性 10 比 1 的前分拆，Appaloosa 將其在 Nvidia 的持倉從 2023 年 6 月底的 1020 萬股減少到 2024 年 3 月 31 日的僅 30 萬股。</p>
<p>但泰珀在 6 月結束的季度中大幅逆轉了方向。唐納德·特朗普總統在 4 月初因關税引發的華爾街下跌吸引了對高增長科技股的購買，抓住機會的投資者獲得了豐厚的回報。泰珀的基金在第二季度增加了 145 萬股，使其持倉增加了 483%！</p>
<p>毫無疑問，Nvidia 帶來了明確的競爭優勢和催化劑，這可能吸引了泰珀重新投資。</p>
<p>首先，Nvidia 的 Hopper（H100）和 Blackwell 圖形處理單元（GPU）佔據了企業 AI 加速數據中心中部署的 GPU 的絕大部分。在計算能力方面，沒有其他 GPU 能夠特別接近或超越 Nvidia 的硬件。此外，首席執行官黃仁勳正在積極投資創新，目標是每年推出一款新的先進 AI 芯片。</p>
<p>CUDA 軟件平台是推動 Nvidia 雙位數增長的另一個催化劑。CUDA 是開發者用來充分利用其 AI-GPU 的工具包，也是構建和訓練大型語言模型的工具。它實際上是吸引公司客户忠於其產品和服務生態系統的誘餌。</p>
<p>此外，Nvidia 還受益於貿易雲的消散。儘管美國和中國尚未達成貿易協議，但特朗普政府已取消對 Nvidia 的 H20 AI 芯片向全球第二大經濟體的出口限制。儘管 Nvidia 向美國政府支付 15% 的銷售額作為某種出口税，但這比之前嚴格的出口限制有所改善。</p>
<p>但即使是全球最大的上市公司也面臨潛在的逆風。</p>
<p>例如，AI-GPU 的競爭正在迅速加劇。雖然大多數人關注外部競爭對手的 AI 芯片生產 ramp-up，但 Nvidia 的許多頂級客户按淨銷售額正在內部開發 AI-GPU 以用於其數據中心。儘管這些硬件在計算能力上無法與 Nvidia 匹敵，但它們將便宜得多且更容易獲得（即沒有積壓）。這對 Nvidia 的定價能力和利潤率構成了潛在問題。</p>
<p>Nvidia 的另一個顯著問題是，過去三十多年來，每一次改變遊戲規則的技術進步在其擴張階段的某個時刻都經歷過泡沫破裂事件。沒有跡象表明人工智能會成為這一不成文規則的例外，因此如果 AI 泡沫破裂，Nvidia 的股票可能會受到重創。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvZGF0YS1jZW50ZXItZW5naW5lZXItZ3B1LWFydGlmaWNpYWwtaW50ZWxsaWdlbmNlLWFpLWNsb3VkLXNlcnZlci1nZXR0eS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvZGF0YS1jZW50ZXItZW5naW5lZXItZ3B1LWFydGlmaWNpYWwtaW50ZWxsaWdlbmNlLWFpLWNsb3VkLXNlcnZlci1nZXR0eS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>Appaloosa 的億萬富翁老闆將這隻萬億級網絡股票踢出了門</h2>
<p>在另一端，泰珀在 6 月結束的季度中將五隻股票（不包括期權）送出了門。也許沒有哪隻股票的完全退出比 <strong>Broadcom</strong>（AVGO -0.13%）更讓人矚目。</p>
<p>儘管泰珀和他的團隊經營着一個相對活躍的基金——他們定期增加或減少現有持倉——但 Broadcom 卻發現自己處於一個旋轉的門中。泰珀在 3 月結束的季度中監督購買了 13 萬股，而在第二季度中全部賣出了這 13 萬股。</p>
<p>將這隻萬億美元網絡股票踢到一邊的最合理解釋之一就是簡單的獲利了結。如果特普爾在第一季度末增持了阿帕盧薩對博通的股份，他可能以約 180 美元或更低的價格獲得了這些股票。到 6 月底，這些股票的交易價格幾乎達到了 276 美元。在華爾街最具影響力的企業之一中，三個月內約 50% 的潛在收益並不常見。</p>
<p>特普爾可能對博通的估值相較於英偉達並不太滿意。儘管博通的前瞻市盈率（P/E）為 37，考慮到其預計年增長率約為 20%，並不算過高，但英偉達的前瞻市盈率為 31，考慮到其與人工智能的直接關聯及其預計更快的增長率，可能更具吸引力。</p>
<p>阿帕盧薩的億萬富翁投資者可能因為第二季度的關税相關擔憂而改變了對博通的看法。對進口到美國的含有博通芯片的成品徵收的關税，可能會降低對博通產品的需求和/或施加其定價能力的壓力。</p>
<p>儘管博通不再是曾經的絕對便宜貨，但它仍然擁有能夠讓特普爾後悔出售的催化劑。</p>
<p>在人工智能領域，博通提供了連接數萬 GPU 到 AI 數據中心的首選解決方案，以最大化其計算潛力並減少尾延遲。當軟件和系統被賦予做出瞬間決策的工具時，減少延遲至關重要。</p>
<p>但博通之所以特別，是因為它不僅僅是一隻人工智能股票。儘管英偉達的絕大多數收入來自 AI-GPU，博通卻從用於下一代智能手機的芯片和配件，以及物聯網設備和汽車的解決方案中獲得了相當一部分淨銷售額。雖然這些領域的增長速度遠不及先進的 AI 芯片/網絡解決方案，但如果人工智能泡沫破裂，它們將提供一定程度的下行保護。</p>

英偉達

2 倍做多英偉達 ETF - GraniteShares

南方兩倍做多英偉達

南方兩倍做空英偉達

英偉達期權收益策略 ETF - YieldMax

1 倍做空英偉達 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半導體 3 倍做多 - Direxion

<p>億萬富翁大衞·泰珀在第二季度將 Appaloosa 對英偉達的持股增加了 483%， reversing his previous selling trend。這一舉動發生在動盪的市場中，突顯了英偉達在人工智能技術方面的競爭優勢。相反，泰珀完全退出了一隻萬億美元的人工智能股票，標誌着他投資策略的顯著轉變。季度 Form 13F 文件揭示了這些變化，使投資者能夠跟蹤像泰珀這樣的主要基金經理的活動</p>

<p>Last Thursday, Aug. 14, marked one of the most important days of the third quarter for investors. Though earnings reports and economic data releases are a near-everyday occurrence, the quarterly filing of Form 13Fs with the Securities and Exchange Commission (SEC) can be invaluable to investors.</p>
<div class="lb-trans"><p>上週四，8 月 14 日，標誌着第三季度對投資者來説最重要的日子之一。儘管財報和經濟數據的發佈幾乎是每天都在發生，但向證券交易委員會（SEC）提交的 13F 表格的季度申報對投資者來説是非常寶貴的。</p>
</div><p>No later than 45 calendar days following the end to a quarter (Aug. 14 for the June-ended quarter), institutional investors with at least $100 million in assets under management are required to file a 13F with the SEC. This filing allows investors to track which stocks Wall Street's leading fund managers purchased and sold in the latest quarter. In other words, it's an easy way to pick out which stocks and trends are piquing the interest of the market's smartest investors.</p>
<div class="lb-trans"><p>在季度結束後的 45 個日曆日內（對於 6 月結束的季度來説是 8 月 14 日），管理資產至少為 1 億美元的機構投資者必須向 SEC 提交 13F 表格。這份申報使投資者能夠追蹤華爾街領先基金經理在最新季度購買和出售了哪些股票。換句話説，這是一種輕鬆的方式，可以找出哪些股票和趨勢引起了市場上最聰明的投資者的興趣。</p>
</div><p>Though Warren Buffett is the most followed of all asset managers on Wall Street, he's far from the only billionaire known for finding amazing deals hiding in plain sight. Appaloosa's billionaire boss David Tepper is another closely tracked fund manager.</p>
<div class="lb-trans"><p>儘管沃倫·巴菲特是華爾街上最受關注的資產管理者，但他並不是唯一一個以發現隱藏在明面上的驚人交易而聞名的億萬富翁。Appaloosa 的億萬富翁老闆大衞·泰珀也是另一位備受關注的基金經理。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1yZWZsZWN0aW9uLWdsYXNzZXMtbGFwdG9wLWJ1eS1zZWxsLWdldHR5LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829669%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>圖片來源：Getty Images。</p>
</div><p>What's made Tepper worth following is his investment activity in the artificial intelligence (AI) space. A highly turbulent second quarter for Wall Street's major indexes allowed Tepper to reverse course on two prominent companies in his fund's portfolio. He nearly 6X'd his position in the face of the AI revolution, <strong>Nvidia</strong>(NVDA 0.94%), and completely exited his fund's stake in one of the hottest trillion-dollar AI stocks after only one quarter.</p>
<div class="lb-trans"><p>泰珀之所以值得關注，是因為他在人工智能（AI）領域的投資活動。華爾街主要指數在第二季度經歷了高度動盪，使得泰珀在其基金投資組合中的兩家知名公司上逆轉了方向。他在面對 AI 革命時幾乎將其在 <strong>Nvidia</strong>（NVDA 0.94%）的持倉增加了 6 倍，並在僅僅一個季度後完全退出了其基金在一隻熱門萬億級 AI 股票的持倉。</p>
</div><h2>Billionaire David Tepper upped his Nvidia stake by 483% in just three months</h2>
<div class="lb-trans"><h2>億萬富翁大衞·泰珀在短短三個月內將其 Nvidia 持倉增加了 483%</h2>
</div><p>Before the second quarter, Appaloosa's billionaire chief had been a persistent seller of Nvidia stock. Taking into account Nvidia's historic 10-for-1 forward split in June 2024, Appaloosa had pared down its position in Nvidia from 10.2 million shares at the end of June 2023 to just 300,000 shares by March 31.</p>
<div class="lb-trans"><p>在第二季度之前，Appaloosa 的億萬富翁首席執行官一直是 Nvidia 股票的持續賣家。考慮到 Nvidia 在 2024 年 6 月的歷史性 10 比 1 的前分拆，Appaloosa 將其在 Nvidia 的持倉從 2023 年 6 月底的 1020 萬股減少到 2024 年 3 月 31 日的僅 30 萬股。</p>
</div><p>But Tepper reversed course in a big way during the June-ended quarter. President Donald Trump's tariff-induced swoon on Wall Street in early April enticed the buying of high-growth tech stocks, and investors who took the opportunity to do so have been handsomely rewarded. Tepper's fund added 1,450,000 shares during the second quarter, which increased its position by 483%!</p>
<div class="lb-trans"><p>但泰珀在 6 月結束的季度中大幅逆轉了方向。唐納德·特朗普總統在 4 月初因關税引發的華爾街下跌吸引了對高增長科技股的購買，抓住機會的投資者獲得了豐厚的回報。泰珀的基金在第二季度增加了 145 萬股，使其持倉增加了 483%！</p>
</div><p>There's no question Nvidia brings well-defined competitive advantages and catalysts to the table, which is what probably enticed Tepper to pile back in.</p>
<div class="lb-trans"><p>毫無疑問，Nvidia 帶來了明確的競爭優勢和催化劑，這可能吸引了泰珀重新投資。</p>
</div><p>For starters, Nvidia's Hopper (H100) and Blackwell graphics processing units (GPUs) account for the lion's share of GPUs deployed in enterprise AI-accelerated data centers. In terms of compute abilities, no other GPUs are particularly close to matching or surpassing Nvidia's hardware. To boot, CEO Jensen Huang is investing aggressively in innovation, with the goal of bringing a new advanced AI chip to market on an annual basis.</p>
<div class="lb-trans"><p>首先，Nvidia 的 Hopper（H100）和 Blackwell 圖形處理單元（GPU）佔據了企業 AI 加速數據中心中部署的 GPU 的絕大部分。在計算能力方面，沒有其他 GPU 能夠特別接近或超越 Nvidia 的硬件。此外，首席執行官黃仁勳正在積極投資創新，目標是每年推出一款新的先進 AI 芯片。</p>
</div><p>The CUDA software platform is another catalyst that's propelling Nvidia's double-digit growth. CUDA is the toolkit developers use to get the most out of their AI-GPUs, as well as to build and train large language models. It's effectively the lure that's keeping the company's clients loyal to its ecosystem of products and services.</p>
<div class="lb-trans"><p>CUDA 軟件平台是推動 Nvidia 雙位數增長的另一個催化劑。CUDA 是開發者用來充分利用其 AI-GPU 的工具包，也是構建和訓練大型語言模型的工具。它實際上是吸引公司客户忠於其產品和服務生態系統的誘餌。</p>
</div><p>Furthermore, Nvidia is benefiting from the clearing trade clouds. Even though the U.S. and China have yet to agree to a trade deal, the Trump administration has removed restrictions on shipments of Nvidia's H20 AI chip to the world's No. 2 economy by gross domestic product. Even though Nvidia pays the U.S. government 15% of its sales to China as something of an export tax, it's an improvement over the rigid export restrictions that had been in place.</p>
<div class="lb-trans"><p>此外，Nvidia 還受益於貿易雲的消散。儘管美國和中國尚未達成貿易協議，但特朗普政府已取消對 Nvidia 的 H20 AI 芯片向全球第二大經濟體的出口限制。儘管 Nvidia 向美國政府支付 15% 的銷售額作為某種出口税，但這比之前嚴格的出口限制有所改善。</p>
</div><p>But even the world's largest public company faces potential headwinds.</p>
<div class="lb-trans"><p>但即使是全球最大的上市公司也面臨潛在的逆風。</p>
</div><p>For instance, AI-GPU competition is rapidly intensifying from within. While most people are focused on the ramp-up in AI chip production from external competitors, many of Nvidia's top customers by net sales are internally developing AI-GPUs to use in their data centers. Though this hardware can't match Nvidia's on a compute basis, it'll be considerably cheaper and more readily available (i.e., not backlogged). This presents as a potential problem for Nvidia's pricing power and margins.</p>
<div class="lb-trans"><p>例如，AI-GPU 的競爭正在迅速加劇。雖然大多數人關注外部競爭對手的 AI 芯片生產 ramp-up，但 Nvidia 的許多頂級客户按淨銷售額正在內部開發 AI-GPU 以用於其數據中心。儘管這些硬件在計算能力上無法與 Nvidia 匹敵，但它們將便宜得多且更容易獲得（即沒有積壓）。這對 Nvidia 的定價能力和利潤率構成了潛在問題。</p>
</div><p>The other notable issue with Nvidia is that every game-changing technological advancement for more than three decades has endured a bubble-bursting event at some point early in its expansion phase. With no indication that artificial intelligence will be an exception to this unwritten rule, Nvidia stock would, presumably, be hit hard if the AI bubble bursts.</p>
<div class="lb-trans"><p>Nvidia 的另一個顯著問題是，過去三十多年來，每一次改變遊戲規則的技術進步在其擴張階段的某個時刻都經歷過泡沫破裂事件。沒有跡象表明人工智能會成為這一不成文規則的例外，因此如果 AI 泡沫破裂，Nvidia 的股票可能會受到重創。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk2NjkvZGF0YS1jZW50ZXItZW5naW5lZXItZ3B1LWFydGlmaWNpYWwtaW50ZWxsaWdlbmNlLWFpLWNsb3VkLXNlcnZlci1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829669%2Fdata-center-engineer-gpu-artificial-intelligence-ai-cloud-server-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Appaloosa's billionaire boss kicked this trillion-dollar networking stock to the curb</h2>
<div class="lb-trans"><h2>Appaloosa 的億萬富翁老闆將這隻萬億級網絡股票踢出了門</h2>
</div><p>On the other end of the spectrum, Tepper showed five stocks (excluding options) to the door during the June-ended quarter. Perhaps no complete exit from Appaloosa's fund was more of an eye-opener than that of <strong>Broadcom</strong>(AVGO -0.13%).</p>
<div class="lb-trans"><p>在另一端，泰珀在 6 月結束的季度中將五隻股票（不包括期權）送出了門。也許沒有哪隻股票的完全退出比 <strong>Broadcom</strong>（AVGO -0.13%）更讓人矚目。</p>
</div><p>Though Tepper and his team run a fairly active fund -- they're regularly adding to or paring down existing positions -- Broadcom found itself in a revolving door. Tepper oversaw the purchase of 130,000 shares during the March-ended quarter, and all 130,000 shares were sold during the second quarter.</p>
<div class="lb-trans"><p>儘管泰珀和他的團隊經營着一個相對活躍的基金——他們定期增加或減少現有持倉——但 Broadcom 卻發現自己處於一個旋轉的門中。泰珀在 3 月結束的季度中監督購買了 13 萬股，而在第二季度中全部賣出了這 13 萬股。</p>
</div><p>One of the most logical explanations for kicking this trillion-dollar networking stock to the curb is simple profit-taking. If Tepper opened Appaloosa's stake in Broadcom toward the end of the first quarter, he would have netted shares for around or below $180. By the end of June, these same shares were changing hands at nearly $276. A potential gain of approximately 50% in three months from one of Wall Street's most influential businesses isn't a common occurrence.</p>
<div class="lb-trans"><p>將這隻萬億美元網絡股票踢到一邊的最合理解釋之一就是簡單的獲利了結。如果特普爾在第一季度末增持了阿帕盧薩對博通的股份，他可能以約 180 美元或更低的價格獲得了這些股票。到 6 月底，這些股票的交易價格幾乎達到了 276 美元。在華爾街最具影響力的企業之一中，三個月內約 50% 的潛在收益並不常見。</p>
</div><p>Tepper may have also been less than enthused with Broadcom's valuation, relative to Nvidia. Even though Broadcom's forward price-to-earnings (P/E) ratio of 37 isn't egregiously high considering its projected annual growth rate of around 20%, Nvidia's forward P/E of 31 may be more palatable given its more direct AI ties and its presumed-to-be faster growth rate.</p>
<div class="lb-trans"><p>特普爾可能對博通的估值相較於英偉達並不太滿意。儘管博通的前瞻市盈率（P/E）為 37，考慮到其預計年增長率約為 20%，並不算過高，但英偉達的前瞻市盈率為 31，考慮到其與人工智能的直接關聯及其預計更快的增長率，可能更具吸引力。</p>
</div><p>It's possible Appaloosa's billionaire investor changed his tune on Broadcom because of tariff-related concerns during the second quarter. Tariffs applied to finished products imported into the U.S. that contain Broadcom chips run the risk of reducing demand for Broadcom's products and/or pressuring its pricing power.</p>
<div class="lb-trans"><p>阿帕盧薩的億萬富翁投資者可能因為第二季度的關税相關擔憂而改變了對博通的看法。對進口到美國的含有博通芯片的成品徵收的關税，可能會降低對博通產品的需求和/或施加其定價能力的壓力。</p>
</div><p>Although Broadcom is no longer the screaming bargain it once was, it still possesses catalysts that are capable of making Tepper regret his decision to sell.</p>
<div class="lb-trans"><p>儘管博通不再是曾經的絕對便宜貨，但它仍然擁有能夠讓特普爾後悔出售的催化劑。</p>
</div><p>Within the AI realm, Broadcom offers the preferred solutions for connecting tens of thousands of GPUs in AI data centers to maximize their compute potential and reduce tail latency. Reducing lag is incredibly important when software and systems are being empowered with the tools to make split-second decisions.</p>
<div class="lb-trans"><p>在人工智能領域，博通提供了連接數萬 GPU 到 AI 數據中心的首選解決方案，以最大化其計算潛力並減少尾延遲。當軟件和系統被賦予做出瞬間決策的工具時，減少延遲至關重要。</p>
</div><p>But what makes Broadcom special is that it's much more than just an AI stock. Whereas an overwhelming majority of Nvidia's revenue derives from AI-GPUs, Broadcom generates a substantial portion of its net sales from chips and accessories used in next-generation smartphones, as well as solutions for Internet of Things devices and automobiles. While these segments aren't growing anywhere close to as fast as advanced AI chips/networking solutions, they'd provide some degree of downside protection if the AI bubble were to burst.</p>
<div class="lb-trans"><p>但博通之所以特別，是因為它不僅僅是一隻人工智能股票。儘管英偉達的絕大多數收入來自 AI-GPU，博通卻從用於下一代智能手機的芯片和配件，以及物聯網設備和汽車的解決方案中獲得了相當一部分淨銷售額。雖然這些領域的增長速度遠不及先進的 AI 芯片/網絡解決方案，但如果人工智能泡沫破裂，它們將提供一定程度的下行保護。</p>
</div>

Billionaire David Tepper Nearly 6X'd Appaloosa's Stake in Nvidia and Completely Dumped This Trillion-Dollar Artificial Intelligence (AI) Stock

- 8 月 14 日是投資者第三季度的重要日子，機構投資者需提交 13F 表格。  
- 大衞·特普爾在 AI 領域的投資活動引人關注，Nvidia 持股增加 483%。  
- 特普爾出售博通股票，可能因利潤回吐及關税擔憂。  

億萬富翁大衞·泰珀幾乎將阿帕盧薩在 NVIDIA 的持股增加了 6 倍，並完全拋售了這隻市值萬億美元的人工智能股票