NVDA 在 227 美元以下被低估；若 Trump 协议成功且不发生衰退，突破可能很快出现。
逐段跳播
Goldman Sachs 和其他机构将加入进来购买 Nvidia 芯片。
Goldman Sachs and others are going to join to buy Nvidia uh chips
Nvidia 80 个基点。
Nvidia uh 80 bips.
哦，Nvidia。
Oh, Nvidia.
我们当然与 Nvidia 有着牢固的关系，事实上我们还公开谈过我们是 Nvidia 独家这一点。而这段牢固的关系，我们当然希望它能转化为从算力角度来说的良好配额，因为那正是我们无法掌控的部分，但拥有这样一个出色的合作伙伴，我认为极其重要。
certainly we have a strong relationship with Nvidia in fact we came out and talked about the fact that we're you know Nvidia exclusive And u uh you know we that strong relationship we hope certainly will translate into you know good allocation from a compute perspective because that's the piece that we don't um control but having a great partner like that is I think hugely important.
我听到的是看多 Nvidia，我真的认为 Nvidia 理应远高于现在这个水平。我们确实这么做，我认为这对他们是有帮助的，就是当我们拿到这个配额时，我们把它搭建起来。是的。
I hear bullish Nvidia I really think Nvidia deserves to be way higher than this. we do that certainly I think is is helpful for them is when we get this allocation we stand it up. Yeah.
是的，那确实是财报中一个很有意思的部分，与 Nvidia 的合作关系以及对此的表述方式。你显然有围绕 Terrafab 的计划，但你是 Nvidia 非常重要的合作伙伴。考虑到你想要搭建多少算力的雄心，你如何看待围绕芯片的第一方与第三方解决方案之间格局的演变？
Yeah that certainly was an interesting part of the the earnings uh the the partnership with Nvidia and the framing of that. You obviously have the plan around Terrafab, but you're this very important partner to Nvidia. How do you think about the landscape evolving between first party and third party solutions around silicon for again your ambitions of how much compute you want to try to stand up?
你看到的是许多代之前、如今已老旧的 Nvidia 算力正在变现，从定价角度看它依然保持着自己的地位。所以这告诉你，与这些 GPU 和 CPU 的残值相关，它将会在很长一段时间内是一个出色的产品周期。
you're seeing the monetization of many generations old now compute from Nvidia still holding its own from a pricing perspective and so that tells you related to the residual value on this GP CPUs um that it uh you know it's going to be a great product cycle for a long time.
我们还在 Goldman 的会议上听到了 Nvidia 首席执行官 Jensen Wong 的发言。
we also heard from Jensen Wong the CEO of Nvidia at Goldman's conference
但我也认为，对于周期的这个阶段来说，硬件已经变得太便宜了。这将利好 Nvidia、Broadcom、AMD、CoreWeave，还有 Oracle——尽管它财报后走平——以及 SpaceX，这些家伙都会在下一份谅解备忘录中胜出。
but I also think that hardware has gotten too cheap for this phase of the cycle. That would benefit the Nvidias, the Broadcoms, the AMDs, the Core Weeaves, um Oracle, even though it's flat after earnings here, SpaceX, these guys all win in this next memorandum of understanding.
我个人认为，他们的融资能力远超像 CoreWeave 或 Nvis 之类的公司。
I think personally I think they have much more financing capabilities than like a coreweave or nvis or whatever.
他们有意与 Nvidia 走独家路线，这样他们就能获得更多的芯片配额，尤其是用于轨道算力之类的。
They've got they're purposely going exclusive with Nvidia so they could get more chip allocation especially for orbital compute blah blah blah.
而这只是再次向我印证，天哪，Nvidia 感觉便宜。我已经抱怨 Nvidia 在 227 这条线以下感觉便宜，感觉有好几个月了。
And that just reiterates to me, man, Nvidia feels cheap. And I've been complaining about Nvidia feeling chip uh cheap under the 227 line for what I feel like is months now.
但我忍不住要说，我认为它正接近 Nvidia 可能很快突破眼前这个天花板的水平，我不认为这还会持续太久。所以，如果我对 Trump 带来的 taco 以及战争结束的判断是对的，而且我们还没有转向衰退，那么 Nvidia 就是一个机会。
But I can't help myself but say that I think it's getting close to where Nvidia could soon break out of this this ceiling right here I don't think will last much longer. And so if I'm right about the taco coming with Trump and the war ending and we're not turning the corner into recession yet, Nvidia is an opportunity.
观察点
这个频道对 $NVDA 的历次判断
Meet Kevin 在这只股票上共 17 条判断，这里只列相邻的几条。