Penetration" author |Feng Qingyan.
The scenery is unique here".
At the beginning of 2024, which technology giant "has a good scenery here", there is no doubt - NVIDIA.
The pace of time began to step into the threshold of 2024, and in more than a month now, Nvidia's stock price has risen by more than 40%.
On December 29, 2023 local time, the ** price of NVIDIA is 495$22, and by February 5, 2024 local time, the price of Nvidia** has risen to 693$32, Nvidia shares have risen 40% in more than a month. Today, Nvidia is the sixth largest publicly traded company in the world.
In January 2024 alone, for example, Nvidia's stock market value has soared unprecedentedly, increasing its market value by nearly $300 billion. This surpasses the 2,482 set in May last yearA record $300 million increase.
On February 5, local time, under the background of the three major stock indexes of the U.S. stock market, Nvidia's stock price hit a new high. As of **, Nvidia stock price **479% to 693$32, the market capitalization reaches 1$71 trillion, 1$77 trillion, just $60 billion.
Compared to NVIDIA, the AMD ** price on the day was 174$23, with a market capitalization of $281.5 billion; Intel** price is 42$77, with a market capitalization of $180.8 billion; TSMC's ** price is 118$79, with a market capitalization of $616.1 billion. A simple calculation shows that the combined market value of AMD, Intel, and TSMC on that day was $631.6 billion less than the market value of Nvidia. Since the market value of $631.6 billion is similar to TSMC's market value of $616.1 billion, it can also be said that the market value of Nvidia is about equal to the total market value of AMD, Intel and TSMC.
What's even more terrifying is that Nvidia's stock price doesn't seem to have peaked at this time. On February 5, local time, Goldman Sachs analysts raised Nvidia's target price to $800 in the next 12 months, compared with its expected target price of $700. This means that in the eyes of Goldman Sachs analysts, there is still a lot of room for Nvidia's stock price in the future.
A seller's market has given rise to a new hegemon.
As we all know, Nvidia is the biggest beneficiary of this wave of AI revolution, and its CEO Jensen Huang, who was described by Meta chief scientist Yann Lecun at the end of last year, said, "Now that an AI war is going on, and he's providing **."
In addition to the old rival AMD's pursuit of new product innovation, affected by the United States' chip restriction policy on China, Nvidia is also facing the problem of losing the Chinese market at this time, which accounts for about 20% of its total revenue. In addition, Nvidia is also facing competitive pressure from downstream large customers, such as OpenAI, Google, Amazon, Tesla, Alibaba, Microsoft, etc., which have begun to set foot in the GPU field, and industry competition will inevitably intensify in the future. But at this time, there is a time lag between the impact of the above-mentioned matters and the landing. At the same time, the huge demand for GPUs from the downstream has made the impact of these problems even more lagging.
On Feb. 2, Huang said that countries around the world intend to build and operate autonomous AI infrastructure at home, which will boost demand for Nvidia's products. He listed a number of countries, including India, Japan, France, Canada, etc.
Goldman Sachs analysts also said a few days ago that we no longer believe that in the second half of 2024, Nvidia's data center segment revenue will decline, and we now expect that until the first half of 2025, Nvidia's data center revenue will continue to grow.
The most recent stroke is 1The large order for 60,000 GPUs, totaling about $500 million, came from Yotta, an Indian data center and server company. According to public information, by 2025, Yotta will have a total of 32,000 NVIDIA H100 and GH200 GPUs.
A little earlier, Meta announced on January 18 that it plans to acquire about 350,000 H100 GPUs from Nvidia by the end of 2024. The plan will cost Meta about $9 billion. At that time, in order to show the importance that NVIDIA attaches to the Chinese market, Huang Jenxun also wore a Northeast large flower vest at the company's annual meeting in China, and danced a two-person rotation to "have a good time" with Chinese employees.
On February 4, Liu Yangwei, chairman of Foxconn's parent company Hon Hai Precision Industry Co., Ltd., revealed that the overall AI server industry is still facing a large shortage of AI chips.
Liu Yangwei said that Nvidia AI chips are seriously insufficient this year, and only a few leading factories can get enough of them.
Recently, it was reported that Nvidia has begun to accept orders for its China-specific version of the AI chip H20 through distributors, which has also been announced. L20, L2 and H20, a total of three models, are China's special version of AI chips launched by NVIDIA under the new U.S. chip restriction policy on China.
Coincidentally, Nvidia's GeForce RTX 4090 graphics card** has soared in the Asian market recently, with a premium of up to 60%. According to sources, many of these products purchased at a premium will be resold to Chinese mainland and Hong Kong by three times**.