英伟达的股价已从近期低点反弹，但仍存在一些风险。
英伟达-日图
英伟达的价格已反弹至108.84美元，但可能尚未触及低点。这将取决于即将发布的新闻和年底前的季度业绩。
英伟达已从历史高点回落，但该股今年以来的涨幅仍超过110%，是标准普尔500指数中表现最好的。自6月份的历史高点以来，股价一直处于区间波动。
该公司面临的一大挑战将是如何达到自己的预期。在最近发布的财报中，该公司让分析师相信会进一步扩张。该芯片制造商公布了好于预期的2025财年第二季度收益，但由于市场预期更高的业绩，该公司股价下跌。
英伟达面临的一个风险是销售集中，该公司的四大客户占其收入的50%。另一个问题是，其中一些公司正在开发自己的定制人工智能芯片。经济衰退的风险仍在逼近，科技巨头的人工智能支出可能面临风险。科技公司在2022年初削减了成本，但却看到了利润的复苏。
当前估值面临的其他风险包括与一家名为Xockets的公司的反垄断诉讼。该公司正在寻求针对英伟达的禁令，这可能会延缓其Blackwell平台的发布。
然而，尽管存在一些威胁，英伟达可能仍能从未来的人工智能支出中受益，云计算公司甲骨文可能会帮助它实现增长。
甲骨文目前运营着162个使用英伟达芯片的数据中心，但首席执行官拉里·埃里森表示，这一数字可能会上升到2000个。埃隆·马斯克的初创公司xAI是英伟达GPU的另一个大买家，用于构建其巨像(Colossus)人工智能训练基础设施。
这台名为“巨像”的超级计算机旨在成为世界上最强大的人工智能训练系统，为马斯克的人工智能项目提供动力，包括言论自由的聊天机器人Grok。
在经历了近年来的快速增长之后，英伟达很可能会在股价进一步调整时大受欢迎。英伟达首席执行官黄仁勋将于周三在高盛的科技会议上发表讲话，这帮助该股上涨了超过3%。
NVDA – Daily Chart
The price of NVDA has bounced to $108.84 but may not have found a low yet. That will depend on upcoming news and quarterly earnings into the year-end.
Nvidia is down from it’s all-time highs, but the stock is still up over 110% for the year, which is the best performer in the S&P 500. The price has been range bound since the all-time highs of June.
A big challenge for the company will be living up to its expectations. In its recent earnings release, the company convinced analysts of further expansion. The chipmaker posted better-than-expected earnings for fiscal Q2 2025, but the shares dropped with markets expecting an even bigger beat.
A risk for Nvidia is a concentration of sales with the company’s top four customers accounting for 50% of Nvidia’s revenues. The other issue is that some of those companies are working on their own custom AI chips. The risk of a recession is also still looming and AI spending from tech majors could be at risk. Tech firms were cutting costs in early 2022 but were able to see a resurgence in profits.
Other risks for the current valuation include an antitrust suit with a company named Xockets. That firm is seeking an injunction against Nvidia which could slow the release of its Blackwell platform.
However, despite some threats, Nvidia may still be able to benefit from future AI spending with cloud firm Oracle being one that can help it to grow.
Oracle operates 162 datacenters which use Nvidia chips but CEO Larry Ellison said that could rise to 2,000. Elon Musk’s start-up xAI has been another big buyer of Nvidia GPUs to build up its Colossus AI training infrastructure.
The “Colossus,” supercomputer aims to become the most powerful AI training system in the world, powering the development of Musk’s AI projects, including the free-speech chatbot, Grok.
After its rapid growth in recent years, Nvidia is likely to be popular with any further correction. Nvidia’s CEO Jensen Huang was set to talk at a Goldman Sachs tech conference on Wednesday and that helped to lift the stock by more than 3%.
