According to the 13F documents for the second quarter, institutional differences over the top seven US stocks are already there: about 44% of institutions have reduced their holdings, and 42% of institutions have opened new positions or increased their holdings. The differences are not only reflected in buying and selling, but also in structural position adjustments within the Big Seven US stock companies. The Qiaoshui Fund made a profit settlement on Nvidia, Google, etc., which had risen since the second quarter, and reduced its Nvidia holdings by about 826,800 shares, or 17.62%. The Qiaoshui Co-Chief Investment Officer agreed that AI is one of the important leading forces in this round of economic expansion, but he also said that as the large-scale AI capital expenditure boom is increasingly reflected in market pricing, the potential growth space for such companies has narrowed. Quantification giant Renaissance Technology increased its holdings of Nvidia, Meta, and Google's parent company Alphabet in the second quarter, while also opening a position on Amazon. To what extent does Nvidia's latest earnings report respond to this “old ledger” disagreement? Demand for AI is not slowing down, demand for data centers is still rigid, and product iterations are not broken. This has mitigated market concerns about peaking computing power capital expenses to a certain extent. However, there are still concerns about customer concentration and dependency risks, whether the closed loop of commercialization of downstream AI can be overcome, when supply chain bottlenecks will be mitigated, and uncertainties about the demand from cloud vendors to divert Nvidia's self-developed chips. Among them, the “circular investment model” is triggering a new round of controversy. Nvidia has invested in many companies within the AI ecosystem and also provided financial support for several data center projects. After the financial report was released, Hwang In-hoon said in an interview that these investments will bring huge returns and the risk is very low. However, concerns from the outside world have not been allayed.
Zhitongcaijing · 1d ago
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According to the 13F documents for the second quarter, institutional differences over the top seven US stocks are already there: about 44% of institutions have reduced their holdings, and 42% of institutions have opened new positions or increased their holdings. The differences are not only reflected in buying and selling, but also in structural position adjustments within the Big Seven US stock companies. The Qiaoshui Fund made a profit settlement on Nvidia, Google, etc., which had risen since the second quarter, and reduced its Nvidia holdings by about 826,800 shares, or 17.62%. The Qiaoshui Co-Chief Investment Officer agreed that AI is one of the important leading forces in this round of economic expansion, but he also said that as the large-scale AI capital expenditure boom is increasingly reflected in market pricing, the potential growth space for such companies has narrowed. Quantification giant Renaissance Technology increased its holdings of Nvidia, Meta, and Google's parent company Alphabet in the second quarter, while also opening a position on Amazon. To what extent does Nvidia's latest earnings report respond to this “old ledger” disagreement? Demand for AI is not slowing down, demand for data centers is still rigid, and product iterations are not broken. This has mitigated market concerns about peaking computing power capital expenses to a certain extent. However, there are still concerns about customer concentration and dependency risks, whether the closed loop of commercialization of downstream AI can be overcome, when supply chain bottlenecks will be mitigated, and uncertainties about the demand from cloud vendors to divert Nvidia's self-developed chips. Among them, the “circular investment model” is triggering a new round of controversy. Nvidia has invested in many companies within the AI ecosystem and also provided financial support for several data center projects. After the financial report was released, Hwang In-hoon said in an interview that these investments will bring huge returns and the risk is very low. However, concerns from the outside world have not been allayed.
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