模型开发放缓短期内对 NVDA 不利，但会拉长长期支出周期。
逐段跳播
所以这只是最前沿的模型，以及它们开发的速度。如果这个速度放缓，会带来什么影响？我最直接的反应是，Nvidia 在为模型开发所用的 GPU 中拥有最大的市场份额。Nvidia 的 GPU 是一流的，至少可以说领先竞争对手一步。
你甚至可以说，在推理和智能体 AI 以及其他类别上，它领先竞争对手两步。虽然也有其他选择，但如果你想开发最新最强的模型，Nvidia 在这一类别中拥有最大的市场份额。所以，如果模型开发放缓，短期内很可能会对 Nvidia 产生负面影响，对吧？
但关键在于，我不认为这对 Nvidia 的长期表现会是负面的。我认为这只会拉长支出周期，对吧？它延长了持续时间。我们一直在讨论，AI 支出可能会断崖式下跌，因为如此多的支出集中在如此短的时间内。
但这会做的是把它分散开来。与其把如此多的支出集中在短短几年内，它可以分散到更长的持续时间，更缓慢地逐步发展。
So this is just the most cutting edge models the development the pace at which they develop these models. If that slows down what impact could it have and most notably my initial reactions are that Nvidia which has the largest market share in GPUs utilized for model development.
So Nvidia's GPUs are bestin-class, arguably at least one step ahead of the competition. You could even argue it's two steps ahead of the competition on inferencing and agentic AI and other categories, there are other options, but if you want to develop the latest and greatest, Nvidia boasts the largest market share in that category.
So, if there's a slowdown in model development, that's likely to impact Nvidia negatively in the near term, right? But here's the thing. I don't expect that to be negative for Nvidia in the longer term.
I expect this just prolongs the spending, right? It extends the duration. We've been talking a lot about how AI spending could fall off a cliff because so much spending is happening in such a short amount of time.
But what this will do is kind of spread it out. Instead of having so much spending concentrated in so few years, it can be spread out in longer duration and develop this over time more slowly.
这个频道对 $NVDA 的历次判断
Parkev Tatevosian, CFA 在这只股票上共 13 条判断，这里只列相邻的几条。