NVDA在AI竞赛中凭借巨大的先发优势仍保持主导地位；尽管竞争加剧可能挤压利润率，但其仍占据“驾驶座”位置，且被认为定价合理。

Nvidia's stock is rising today. Nvidia is currently operating at full capacity. It's probably the best company in the world. And if it isn't, it's undoubtedly one of the best . You know, when we look at Nvidia, we like to evaluate it by comparing it to the competitors, because Nvidia has made a huge lead in the artificial intelligence race compared to the rest. She took everyone completely by surprise. This wave that occurred, they exploited it perfectly. They were in an excellent position and executed their strategy very well.

But, when we look at the scene now, things have changed a little. You know, Nvidia is n't the only player in the arena. Competition is becoming more efficient, and although Nvidia's growth story is still amazing and very strong, we are beginning to see some competitors surpassing it in terms of growth rate.

So, when we think of Nvidia, we consider it the best company in the world, perfectly priced, and delivering results beyond perfection time and time again.

Nvidia is in an ideal position. They have demonstrated incredible efficiency in executing and exploiting such waves. We see no reason for this to stop here , but we also see the emergence of strong competition that will also benefit from this.

Yes, Andy, as you know , we've seen Nvidia, based on futures valuation, look cheap compared to many of the competitors you mentioned, such as AMD and Intel, even at this point.

It may be the law of large numbers, but with gains of 6% this week, we have seen a rebound in stocks following their impressive earnings results last week.

Yes, I think the biggest vulnerability that Nvidia could face is that profit margins are bound to decrease due to the efficiency of the competition and the improvements you are talking about.

We see that it will also test and put pressure on the profit margins and gross profit margins of individual competitors such as Nvidia. So, let me ask you this, Andy. So, I think one shouldn't overestimate that graph where AMD appears slightly higher than Nvidia in terms of demand.

Yes, market share is growing, and Nvidia was starting from a huge lead and a massive baseline, so achieving a 24% year-over-year increase is an amazing accomplishment, especially considering where they started a year ago and how far ahead they are of everyone else.

Those rates need to exceed 100% or more to truly impact the significant lead that Nvidia currently enjoys. Therefore, it requires continuous and hard work. This will put some pressure on profit margins, but Nvidia is certainly still in the driver's seat of the entire AI race, and all the money that flows into companies like GROC, Cloud, and GPT, a huge percentage of it goes to Nvidia and will continue to do so in the future.

A follow-up question regarding the announcement of their acquisition of "Higging Face," an open- source AI modeling platform. If you look at that in comparison to what we've seen from both Anthropic and OpenAI, they are working on expanding their suite of AI technologies at this stage, and that seems to be the logical next step. Do you think they have a better chance there? And how many of these models will we get in the future? Will we witness some losing and others winning, or perhaps there will be two winners?

and tomorrow "Groc" will be the shining star, and all of that is in Nvidia's favor. This is good for data center expansions. It is good for consumers and for implementers as well, and we hope it will last for a long time, and we believe it will continue because this arms race has only just begun .