英伟达三季报：AI芯片供不应求利润翻番，为何股价却下跌

21世纪经济报道11-21

英伟达财报已被分析师视为影响美股科技股走势的风向标。北京时间2024年11月21日，AI芯片巨头英伟达(NVIDIA)公布了2025财年第三季度(截至2024年10月29日)的财务业绩。尽管核心数据亮眼，市场反应却略显冷淡，股价收跌0.76%，报145.89美元，市值35787亿美元。盘后下跌2.5%。美股“科技七姐妹”当日和盘后股价均表现平稳，高通跌幅较大。财报显示，英伟达第三财季总营收达到...

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GPU需求依旧强劲，而下一代Blackwell芯片已全面投产，预计将在未来几个季度供不应求。英伟达此前就预测Blackwell芯片将在第四财季贡献数十亿美元收入。英伟达首席财务官Colette Kress表示，Blackwell芯片计划于本季度开始出货，并将在明年加速出货。尽管市场对Blackwell芯片散热表现存在一定担忧，但摩根士丹利的分析师认为，这些顾虑被夸大，且供应链状况稳定，目前没有看到任何芯片发货推迟的迹象。此外，Blackwell芯片问题，也推进了数据中心对散热效果更好的液冷技术的追捧。黄仁勋近期甚至形容市场需求为“疯狂”。多位分析师告诉21世纪经济报道记者，Blackwell芯片还没到出货时间就几乎被订完了，可能交付时间影响一个月左右，但其实影响并不大。摩根士丹利半导体分析师Joseph Moore此前的研报表示，Blackwell B200产量变得更加平稳，预计2024年第四季度产量约为30万件，2025年第一季度为80万件。英伟达第三季度财报显示，公司仍处于AI行业发展的最前沿，但也面临市场对高增长持续性的考验。随着AI芯片的迭代升级和需求扩大，英伟达仍有巨大的增长潜力。然而，在全球经济环境趋于不确定的背景下，公司继续引领行业也面临新的挑战。谈及未来中美关系，黄仁勋表示：“我们会尽最大努力，一如既往。我们需要同时做到以下几点：全面遵守所有新的法规，尽全力支持我们的客户，并在市场中展开竞争。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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