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Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
There we go, $AVGO earnings call to clarify miss. Broadcom expects:

FY27E: ~$115B (+100% growth)
FY28E: ~$230B (+100%), think analysts were modeling ~$180B.

Demand actually exceeds this outlook, and Broadcom will work to improve supply. This is way above street estimates, similar to $NVDA earnings.

"very much on target to exceed $30 in earnings per share in fiscal 2028." ~12.2x forward p/e (of $367/share)

Also just a brownie quote: "AI networking revenue is expected to grow just as fast as XPUs over the next few years."

Way more bullish forward guidance relative to next soft quarter revenue projections, think the few percent AH selloff was an overreaction.

Just my initial thoughts.

翻译：
好了，$AVGO 财报电话会议澄清了失误。Broadcom 预期：

FY27E：约1150亿美元（+100% 增长）
FY28E：约2300亿美元（+100%），我认为分析师的模型是约1800亿美元。

需求实际上已经超出这一预期，Broadcom 将致力于提升供给。这远高于华尔街预估，类似于 $NVDA 的业绩。

“非常有望在 2028 财年每股收益超过 30 美元。”约 12.2 倍前瞻市盈率（每股 367 美元）

还有一句顺口溜：“AI 网络收入预计在未来几年将和 XPU 同速增长。”

相较于下个季度疲软的收入预测，前瞻指引更为乐观，我认为几百分点的盘后抛售是反应过度。

仅是我的初步想法。

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
I try not to go off topic...

But apparently, the Strait of Hormuz might be renamed the "Trump Strait" soon. https://t.co/7UJitOXmKX

翻译：
我尽量不跑题…

但显然，霍尔木兹海峡可能很快会改名为“特朗普海峡”。 https://t.co/7UJitOXmKX

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入…
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。
但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入……
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与其自身预测之间存在显著差距。
- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为自己能够提供的水平。

FY27 预估：约 $401B 收入…
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与公司自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家 $10T 公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入…
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与他们自己的预测之间存在显著差距。

- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入…
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与其自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出的增长预测约为 70%，因为这才是 Nvidia 认为自己能够提供的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以更新预期，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家市值 10 万亿美元的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan… 他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出的增长预测约为 70%，因为这才是 Nvidia 认为自己能够提供的。

FY27 预估：约 $401B 收入…
FY28：约 $682B（增长 70%）或在不受限制的情况下超过 $802B。

- Nvidia IR 表示更新预期是因为他们拥有更大的可见性，并且看到 Street 预估与他们自己的预测之间存在显著差距。

- 推断现在已超过训练，约 18 个月前还大致是 50/50。

我在想 Nvidia 是否会成为首家市值 $10T 的公司… 这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入…
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出约 70% 的增长预测，因为这才是 Nvidia 认为自己能够供应的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推断业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家市值 10 万亿美元的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出的增长预测约为 70%，因为这才是 Nvidia 认为自己能够提供的。

FY27 预估：约 $401B 收入…
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示更新预期是因为他们拥有更大的可见性，并且看到 Street 估值与其自身预测之间存在显著差距

- 推断现在已经超过训练，约 18 个月前还大致是 50/50

我在想 Nvidia 是否会成为首家 $10T 公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出约 70% 的增长预测，因为这才是 Nvidia 认为自己能够供应的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推断业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家 $10T 公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%。

但最终给出的增长预测约为 70%，因为这才是 Nvidia 认为自己能够提供的。

FY27 预估：约 $401B 收入…
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与公司自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，而 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 10 万亿美元的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，可能同比增长超过 100%+。

但最终给出了约 70% 的增长预测，因为这才是 Nvidia 认为自己能提供的。

FY27 预估：约 $401B 收入…
FY28：约 $682B（70% 增长）或在不受限制的情况下超过 $802B。

- Nvidia IR 表示之所以给出更新的展望，是因为他们拥有更大的可见度，并且看到华尔街预估与他们自己的预测之间存在显著差距

- 推断现在已经超过训练，约 18 个月前还是大致 50/50

我在想 Nvidia 是否会成为首家 $10T 公司……这种增长简直荒唐。

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Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出约 70% 的增长预测，因为这才是 Nvidia 认为自己能够供应的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推断业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家市值 10 万亿美元的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan… 他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出的增长预测约为 70%，因为这才是 Nvidia 认为自己能够提供的。

FY27 预估：约 $401B 收入…
FY28：约 $682B（增长 70%）或在不受限制的情况下超过 $802B。

- Nvidia IR 表示更新预期是因为他们拥有更大的可见性，并且看到华尔街预估与他们自己的预测之间存在显著差距。

- 推断现在已超过训练，约 18 个月前还大致是 50/50。

我在想 Nvidia 是否会成为首家市值 $10T 的公司… 这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度环比可能增长超过 100%+。

但最终给出的增长预测约为 70%，因为这是 Nvidia 认为他们能够提供的水平。

FY27 估计：约 $401B 收入…
FY28：约 $682B（按 70% 计算）或在不受限制的情况下超过 $802B。

- Nvidia 投资者关系表示，之所以给出更新的前景，是因为他们拥有更大的可见性，并且看到华尔街预估与其自身预测之间存在显著差距。

- 推理业务现在已超过训练业务，而大约 18 个月前两者大致持平。

我在想 Nvidia 是否会成为首家市值 $10T 的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出约 70% 的增长预测，因为这才是 Nvidia 认为自己能够供应的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推断业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家市值 10 万亿美元的公司……这种增长简直荒唐。

image

image
Serenity 白毛女-中文翻译（公开）

Serenity(Serenity)

AI/半导体供应链 NFA DYOR（自行研究），不提供付费推广；可能会交易/保留名称，观点仅代表个人立场。分享免费的AI瓶颈研究。
原文：
$NVDA told JP Morgan... That their revenue could increase more than 100%+ Y/Y unconstrained.

But ended up giving a ~70% growth projection because that's what Nvidia believes they can supply.

FY27 est: ~$401B revenue...
FY28: ~$682B at 70% or >$802B unconstrained.

- Nvidia IR said it gave the updated outlook because it had greater visibility + saw a meaningful gap between Street ests. and its own projections

- Inference is now larger than training after being roughly 50/50 about 18 months ago

I wonder if Nvidia will be the first $10T company... this growth is absurd.

翻译：
$NVDA 告诉 JP Morgan……他们的收入在不受限制的情况下，年度同比增长可能超过 100%+。

但最终给出约 70% 的增长预测，因为这才是 Nvidia 认为自己能够供应的。

FY27 预估：约 $401B 收入...
FY28：约 $682B，增长 70% 或在不受限制的情况下超过 $802B。

- Nvidia IR 表示，之所以更新展望，是因为他们拥有更大的可见度，并且看到华尔街预估与自身预测之间存在显著差距。

- 推断业务现在已超过训练业务，约 18 个月前两者大致持平 50/50。

我在想 Nvidia 是否会成为首家 $10T 公司……这种增长简直荒唐。

image

image

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