原文：

原文：
FYI to the AI bears: $NVDA projects $1.3T of hyperscaler spend for 2027.

Up from ~$800B in 2026, alongside ~70% revenue growth despite remaining capacity constrained… far above prior Street expectations of ~45%.

That capex flows across the AI supply chain… from memory and networking to foundries. Especially through the new bottlenecks/chokepoints that didn’t benefit from older generations.

We’re like 2 hours into the party where people started off drinking Sapporo draft beer.

Someone spiked Situational’s drinks and we had to pause the party for 30 min.

But now it’s back on with tequila shots on the table.

I think the real party is about to begin.

翻译：
给AI空头们的提醒：$NVDA 预计2027年的超大规模算力支出将达 $1.3T。

相比2026年的约 $800B 大幅上升，同时收入增长约 ~70%，尽管产能仍受限……远超此前华尔街约 ~45% 的预期。

这笔资本支出遍布AI供应链……从内存、网络到代工厂。尤其是那些新出现的瓶颈/卡点，旧一代产品并未受益。

我们现在已经在派对上喝了大约 2 小时，大家最初在喝 Sapporo 生啤。

有人在 Situational 的饮料里下了药，我们被迫暂停了 30 分钟。

但现在派对重新开始，桌上摆着 tequila shots。

我觉得真正的狂欢即将开启。