There is no harm if there is no comparison, this sentence is the same when you look at it.
Over the past year, Japan** and Nvidia have climbed in market capitalization, and in February this year, they each hit new heights.
Japan** has hit a new high, and to some extent it has something to do with us, as foreign direct investment (FDI) has fallen last year, and international funds have nowhere to go, and more and more are starting to flow into Japan.
Japan's own performance has also been very good in the past, with Japanese corporate profits soaring and internal innovation constantly changing, all of which have combined to boost Japan**.
On February 22, Japan's most important stock index, the Nikkei 225 Index, **3909868 points, surpassing the 38,957 set in Japan on December 29, 198944 points, this is Japan's first record high in 34 years.
It is said that ** is a barometer of the economy, which is very appropriate for Japan**, with the continuous recovery of the Japanese economy, Japan is also expected to go through the 30-year recession caused by the real estate bubble.
Behind this historic moment, Japan has risen for more than 10 years, during which Japan has been in the rest of the years, except for 2018, when the global capital market was generally sluggish, and 2022, when the Federal Reserve started its interest rate hike cycle.
However, although this has lasted for decades, it is only now that Japan has only caught up with the new high of 34 years ago, which alone is enough to show that in the past 30 years, the Japanese economy has experienced a long twist and turn.
Now, for Japan, it may be a time for a change.
For Japan, in addition to investors optimistic about the substantial improvement in the profitability of Japanese companies, Japanese prices are also gradually getting rid of deflation, which is also an expectation that Japan will get out of the "lost 30 years".
At the end of last year, Japan's core CPI was 23% and had a record of 4. in January 2023The 2% high in nearly 40 years, the CPI, also reflects that Japan's domestic consumption is slowly recovering, according to the Ministry of Finance, the net profit of Japan's non-financial enterprises has quadrupled in the past 20 years, reaching $493 billion.
The profitability of listed Japanese companies is 9The growth rate of 3% is almost the same as the growth rate of the index. In addition to that,Japan last 5The nominal GDP growth rate of 7% is also the first time since 1977 that it has surpassed China's.
These numbers all make the Japanese economy look more attractive, and as a result, it has also pulled Japan** to a record high.
In addition, today the technology sector also accounts for 49% of the Nikkei 225 index, followed by the consumer goods sector closer to residents with 24%.
Since the bursting of Japan's commercial real estate bubble, balance sheet issues have been transmitted from the corporate sector to the banking sector, and a number of major banks and real estate companies have been removed from the Nikkei, which may be part of the reason why Japan** is doing better.
Generally speaking, Japan's economy has come out of the trough, although Japan is still facing the problems of an aging population and a low birth rate, but compared to us, Japan's total fertility rate is even higher than ours.
Although our A-shares have now regained 3,000 points, it is only 3,000 points, and the road ahead is still long and difficult.
In addition to **, a separate reference may be the artificial intelligence boom.
The development of artificial intelligence has reached ten years a year, and since the birth of ChatGPT, the boom of artificial intelligence has never stopped, among which Nvidia may be the best embodiment of market capitalization.
Just yesterday, Nvidia shares rose 14%, giving it a market capitalization of more than 19 trillion dollars, what kind of concept is it?
In just one night, Nvidia rose by $240 billion, which is equivalent to the total market value of Aliga in China.
But Nvidia did it in just one day.
Nvidia is one of the fastest companies by market capitalization in recent years.
In the latest quarter of January this year, Nvidia's revenue increased by 265% year-on-year to $22.1 billion.
Among them, the data center business, which is the largest AI-related business, saw sales increase more than fourfold to $18.4 billion, which is more than the company's total revenue for the full year in 2020.
At the same time, Nvidia's net profit was $12.3 billion, a year-on-year increase of 769%, exceeding market expectations by nearly 17%. Nvidia's median revenue guidance for the next quarter was $24 billion, up 234% year-over-year and 8% higher than market expectations.
These dazzling data have made investors go crazy for Nvidia again.
How crazy is Nvidia?
Nvidia currently has a market capitalization of more than 1At $9 trillion, it is the third-largest company in the U.S. stock market and has a market capitalization after Apple and Microsoft, while Nvidia has risen 1$56 trillion, this year alone, Nvidia's market value has risen by $700 billion.
In just two years, Nvidia has risen by 1$56 trillion, which is almost equivalent to a dozen Alibaba.
Two years ago, Nvidia's market value was only about $400 billion, and everything behind this is due to the popularity of ChatGPT.
And Nvidia sells GPUs for AI large model training.
Artificial intelligence has been widely used in various industries, and many companies are using and developing AI models and services on a large scale, and NVIDIA can be said to be the "monopolist" among them.
Nvidia founder Jensen Huang has touted the ease of use and compatibility of NVIDIA GPUs on multiple public occasions, meaning they can span different industries, needs, and even new changes in artificial intelligence.
Not only are almost all domestic companies related to artificial intelligence inseparable from NVIDIA's GPUs, but even a number of large domestic Internet companies are inseparable from NVIDIA's chips in training artificial intelligence.
In addition to the explosive growth of generative AI demand, NVIDIA has the corresponding hardware and software platforms to respond to more vertical needs in more vertical industries, such as automotive, healthcare, and financial services, such as autonomous driving, drug discovery, and low-latency machine learning for fraud detection.
And this is also the biggest moat of NVIDIA, almost every car company engaged in artificial intelligence has partnered with NVIDIA.
For us, risk is objective.
As an American technology company, Nvidia is naturally controlled by the United States, and the control measures in the United States make it impossible for Nvidia's best AI chips to be sold to China, one of the largest markets, so now domestic customers can only contribute a single-digit proportion of Nvidia's data center business.
But even so, Nvidia's market capitalization still ranks third among U.S. stocks, 1$9 trillion; It's like leaving the domestic market for Google, which currently has a market capitalization of 179 trillion dollars.
Therefore, the skyrocketing market value of Nvidia, on the one hand, artificial intelligence is becoming more and more popular, on the other hand, under the competition of artificial intelligence between China and the United States, Nvidia's supply of high-end chips in the domestic market may further widen the gap in artificial intelligence.
The high profits on chips have also given Nvidia's major customers the intention to develop their own chips, and large customers such as Microsoft, Google, Meta, Amazon and Tesla are investing a lot of resources to develop their own AI chips, not including some large domestic companies.
Therefore, NVIDIA's position as a monopoly in the industry's chips naturally cannot last forever.
But NVIDIA's moat should not be underestimated, the current demand for artificial intelligence computing power is very high, and only NVIDIA can catch most of these needs, relying on the computing platform that began to be developed more than 10 years ago, NVIDIA has deeply bound millions of artificial intelligence developers, forming a very strong software ecological chain.
This is Nvidia's moat.
And such an excellent company, as well as the disruption of artificial intelligence to the business world, make people have to be cautious and even wary.
Next month, Nvidia will also release a new flagship product, the B100, which is expected to significantly outperform the Nvidia H100 and all of its competitors.
Huang himself believes that the world has reached a tipping point in a new computing era where about $2 trillion will need to be spent to equip all data centers and computers with AI chips.
This is a time of change, and there is no doubt that we are in it, but in a sense, we seem to be at odds with the changes in the outside world because of the US restrictions.
And this, I'm afraid, is the most scary.
end.Author: Luo sir, the workplace reference of the new youth. Concerned about the logic behind the development of things, optimistic pessimists. Follow me and grind the knowledge to you.
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