Nvidia's revenue and performance were significantly higher than expected.
On February 21st local time, Nvidia released its financial report for the fourth quarter of 2023. The report shows that Nvidia's revenue in the fourth quarter of last year was $22.1 billion, with a market expectation of $20.41 billion; Adjusted profit margin of 76.7%, market expectation of 75.4%; Data center revenue is 18.4 billion US dollars, with a market expectation of 17.21 billion US dollars; Expected revenue for the first quarter of 2024 is $24 billion, with a fluctuation range of no more than 2%, and the market expects $21.9 billion. All data in the company's financial report significantly exceeded market expectations.
Affected by this news, NVIDIA's stock market quickly rose after the market, rising by over 10% at one point. Prior to the release of the financial report, it had a 4-day consecutive pullback, with a cumulative decline of 8.7%.
Before the financial report was released last night, Goldman Sachs trading department referred to Nvidia as "the most important stock on Earth.". Option positions indicate that Nvidia's stock price may fluctuate by approximately 11% in any direction. Given Nvidia's significant weight in the stock index and its concentrated long positions, the company's financial report may shake the financial market. As of the close of February 21st local time, the stock market value of Nvidia Darby reached 1666.6 billion US dollars, equivalent to approximately RMB 11.84 trillion.
Nvidia is about to hold an important AI conference
Recently, Nvidia has been taking frequent actions. On February 21st Beijing time, Nvidia announced that it will hold the GTC 2024 conference from March 18th to 21st at the San Jose Convention Center. At that time, the founder and CEO of the company, Huang Renxun, will release the latest breakthrough achievements in the fields of accelerated computing, generative AI, and robotics.
Nvidia said in its official WeChat official account that more than 900 meetings will be held at this conference, and more than 300 exhibitors will show how enterprises deploy NVIDIA platform to achieve major breakthroughs in aerospace, agriculture, automobile and transportation, cloud services, financial services, medical and life sciences, manufacturing, retail and telecommunications industries.
Huang Renxun said, "Governments, industries, and organizations are committed to leveraging the transformative capabilities of generative AI, and generative AI has become a focal point of global attention. GTC has become the most important AI conference in the world, where the entire ecosystem gathers to share knowledge and drive technological development. Looking forward to your attendance!"
State owned Assets Supervision and Administration Commission holds a special promotion meeting on artificial intelligence in central enterprises
On February 19th, the State owned Assets Supervision and Administration Commission of the State Council held a special promotion meeting on "AI Empowering Industry Revitalization" for central enterprise artificial intelligence.
The meeting believes that accelerating the development of artificial intelligence is an inevitable requirement for state-owned and central enterprises to fulfill their functions and missions, seize strategic opportunities, cultivate new quality productivity, and promote high-quality development. Central enterprises should actively embrace the profound changes brought about by artificial intelligence, prioritize the accelerated development of the new generation of artificial intelligence, continuously strengthen innovation strategies, application demonstrations, and talent gathering, focus on building artificial intelligence industry clusters, leverage the advantages of large demand scale, complete industrial support, and multiple application scenarios, take the lead in seizing the empowerment of traditional industries by artificial intelligence, accelerate the construction of data-driven, human-machine collaboration, and cross-border integration The intelligent economic form of co creation and sharing.
The meeting emphasized that central enterprises should prioritize the development of artificial intelligence in their overall work, deepen industrial revitalization, and accelerate the layout and development of the artificial intelligence industry. We need to consolidate the foundation of development, concentrate our main resources on the most needed and advantageous areas, accelerate the construction of a number of intelligent computing centers, further deepen open cooperation, and better leverage the role of cross central enterprise collaborative innovation platforms. Carry out AI+special actions, strengthen demand traction, accelerate the empowerment of key industries, build a batch of high-quality industrial multimodal datasets, and create a large model empowered industrial ecosystem from infrastructure, algorithm tools, intelligent platforms to solutions.
At the meeting, representatives from top artificial intelligence companies and central enterprises made exchange speeches. 10 central enterprises have signed a proposal letter, stating that they will actively open up artificial intelligence application scenarios to the society.
The concept of artificial intelligence has been rising for several consecutive days
Since February 6th, the A-share artificial intelligence concept has continued to rise, with a cumulative increase of 17.31% in the index. Concept stocks such as Insa Group, Chinese Online, and Beijing Junzheng have all accumulated gains of over 50%.
According to a research report by Guosheng Securities, the recent news in the AI industry has seen fierce competition among various models. At the same time, with the fact that Scaling Law is constantly being tested, the previously optimistic view on computing power demand will continue to be verified. AI computing power is expected to continue to become a popular investment direction in the new year after 2023.
From the perspective of institutional attention, 24 artificial intelligence concept stocks have received attention from more than 5 institutions, accounting for more than one-third of the total. Three stocks, including Hang Seng Electronics, iFlytek, and Hikvision, have received institutional ratings more than 25 times.
Hang Seng Electronics previously stated on the investor Q&A platform that the company has officially started research on AI since 2014 and has released over 20 artificial intelligence products, creating capabilities such as NLP, OCR, CV, and knowledge graph. At the same time, it empowers AI technology capabilities to intelligent customer service, intelligent investment research, intelligent operations, intelligent marketing, intelligent investment advisory, and data and risk related business systems.
The top AI concept stocks in institutional attention generally performed well, with Hang Seng Electronics, iFLYTEK, Hikvision, and Wanxing Technology seeing a projected increase in net profit for the year 2023. Wanxing Technology is expected to have the highest growth rate, reaching 81.8% to 142.39%.