Nvidia的Blackwell收入成焦點，銷售增長放緩
（路透社）- Nvidia（NASDAQ:NVDA）在過去八個季度中超越了華爾街的高預期收入，但隨著分析師預期增長速度放緩，該公司如何克服延遲和供應鏈問題以銷售其最新的AI晶片，將成為其股價的指標。
這家位於生成式人工智能熱潮中心的晶片製造商，預計其第三季度銷售額將激增82.8%，達到331.3億美元，根據LSEG彙編的數據顯示。
這將是六個季度以來最慢的增長，前五個季度的銷售額至少翻了一倍。
截至1月底的第四季度，Nvidia的新款Blackwell晶片的銷售增長預計將進一步放緩至67.6%。
由於設計缺陷導致新系列處理器的生產上升延遲，投資者迫切希望了解Nvidia是否能夠在1月季度實現預期的“數十億美元的Blackwell收入”。
“目前所有焦點都集中在Blackwell身上，”Rosenblatt的分析師Hans Mosesmann表示。
摩根士丹利（NYSE:MS）分析師預計，第四季度的Blackwell收入在50億至60億美元之間，而Piper Sandler的分析師則預測這些晶片的收入範圍為50億至80億美元，這些晶片的速度是其前身的30倍。
Spear Invest創始人兼首席投資官Ivana Delevska對此持更樂觀的看法。她預計這些晶片在同一時期將帶來約120億至130億美元的收入。
然而，Nvidia交付這些晶片的能力可能受到供應鏈限制的影響。Nvidia的合同晶片製造商台積電（TSMC）在七月表示，進入2025年，AI晶片的生產能力將非常緊張。
“要準確解讀這一點是很困難的，”摩根士丹利的分析師指出，他們補充道，交付Blackwell晶片的時間表即使改變一周，也可能對收入產生重大影響。
隨著2022年底OpenAI的ChatGPT推出後，對AI基礎設施的投資激增，Nvidia的季度業績面臨艱難的年同比比較。
該公司在過去四個季度中通過縮小利潤率，超越了華爾街的收入預期。
Nvidia的表現將對推動或削弱與AI相關的股票的長期反彈起到至關重要的作用。Nvidia的股票今年幾乎翻了三倍。
預計Nvidia的調整後毛利率在第四季度將下降超過三個百分點，降至73.6%，因為開發和提升新AI晶片生產的高成本造成壓力。
研究和開發成本以及調整後的運營費用預計將在該期間達到歷史最高水平。
但分析師和投資者一致認為，對Nvidia領先的GPU的需求在可預見的未來仍將保持強勁。
包括微軟（NASDAQ:MSFT）和亞馬遜（NASDAQ:AMZN）在內的雲服務提供商，可能會繼續投入數十億美元建設使用Nvidia晶片的AI數據中心，因為他們競相開發最快、最先進的生成式AI應用。
Nvidia的專有CUDA軟件框架幫助其在AI晶片市場佔據主導地位，該市場的市場份額約為80%。
Gabelli Funds的投資組合經理John Belton表示，該軟件已成為“一個真正的每年數十億美元的經常性收入業務，仍在以超過100%的速度增長。”
在分析Nvidia的銷售增長放緩的背景下，值得注意的是，這不僅是晶片生產的挑戰，還涉及到整個AI生態系統的發展。隨著市場對AI技術需求的持續增長，Nvidia必須在保持創新和滿足市場需求之間取得平衡。這不僅關乎公司的短期業績，更影響其長期發展潛力。Nvidia的策略和執行將成為未來幾個季度的重要觀察點。
以上文章由特價GPT API根據網上資料所翻譯及撰寫，過程中沒有任何人類參與 🙂
![{
"intro": "Create an ultra realistic 8K UHD DSLR photo based on the attached image as a reference of facial features, maintaining 100% likeness.",
"subject": {
"identity": "A stylish beautiful woman portrayed as Cleopatra performing a sacred night-time royal dance, embodying divine seduction, power, and celestial authority.",
"angle": "Full-body high-fashion editorial portrait captured at a cinematic 3/4 angle, ultra-crisp clarity with no blur.",
"pose": {
"body_position": "She is captured mid-dance inside a temple courtyard at night, her body angled gracefully, hips grounded, torso lifted, creating a powerful and sensual silhouette.",
"movement": "Her arms are raised in slow ceremonial motion while one leg steps forward, fully revealing her feet and lower legs as part of the ritual stance.",
"expression": "A calm, hypnotic, commanding gaze directed toward the camera—quiet dominance wrapped in sensual mystery."
}
},
"appearance": {
"outfit": "An ultra-bongga Cleopatra couture gown with an all-crystal bodice that fits like jeweled armor. Thousands of hand-set crystals, diamonds, and glass stones in gold, champagne, clear, and iridescent tones form sacred Egyptian motifs—cobras, sun disks, lotus symbols—entirely through crystal placement. The neckline is daring yet elegant, supported by invisible illusion mesh. From the waist, the skirt opens into flowing sheer silk and organza panels in ivory and soft gold, designed with a high front opening that intentionally exposes her legs and feet during movement. Crystal chains and beaded fringe sway rhythmically with every step, enhancing sensual motion.",
"accessories": "A dramatic Egyptian ceremonial headpiece with gold and crystal detailing, an oversized layered gold collar necklace, sculpted crystal arm cuffs, finger armor rings, a crystal-and-gold waist belt, and delicate gold anklets accentuating her bare feet.",
"hair": "Her hair is sleek, glossy, and perfectly controlled, styled to balance the weight of the crystal headpiece while allowing elegant movement.",
"makeup": "Ultra-glam, colorful Egyptian night makeup—bold elongated black kohl eyeliner, intense eyeshadow layered in turquoise, emerald, sapphire blue, violet, and metallic gold. Beneath the eyes, intricate ceremonial ink drawings in fine black and gold lines inspired by ancient Egyptian markings. Skin is luminous with molten-gold highlights, brows strong and defined, lips finished in a sensual nude-bronze satin."
},
"props": {
"ritual_elements": [
"Burning incense bowls releasing thick aromatic smoke",
"Golden sistrum placed near the dance space",
"Tall ceremonial torches lining the temple floor"
]
},
"background": {
"macro_environment": "A grand ancient Egyptian temple courtyard at night, reserved for sacred royal rituals.",
"midground_details": "Towering sandstone columns, massive statues of Isis and Hathor, carved temple walls, flowing linen drapes, and ceremonial platforms illuminated by firelight.",
"micro_elements": "Torch flames reflecting off crystal surfaces, fine dust particles glowing in the night air, incense smoke wrapping around her legs and feet, detailed stone floor textures beneath her bare feet, crystal fringe in motion, and sharply defined shadows—everything rendered in extreme detail with zero blur."
},
"lighting": {
"type": "Cinematic night lighting using torches, oil lamps, and subtle moonlight.",
"effect": "Firelight ignites the crystal bodice with prismatic sparkle while moonlight softly outlines her legs and feet, creating a dramatic, sensual, and divine atmosphere."
},
"camera": {
"camera_type": "DSLR",
"resolution": "8K UHD",
"lens": "50mm prime lens",
"aperture": "f/8 for full-body and environment sharpness",
"iso": 100,
"shutter_speed": "1/200s to freeze elegant motion clearly",
"focus": "Extreme sharp focus on crystal bodice, facial features, legs, feet, and temple details, no bokeh, no blur"
},
"style": "Ultra high-fashion editorial, night temple ritual, all-crystal couture, sexy yet sacred, ancient Egyptian royalty reimagined, cinematic realism, extremely detailed, sharp, iconic"
}](https://ssfuture.shop/wp-content/uploads/ai_gen_1766006158-167x300.png)
