With a 106% year-on-year increase in revenue, combined with a 70% growth guideline for the next year, Nvidia used a report card that far exceeded expectations to tell the market that AI's lack of computing power was not demand, but supply. Nvidia's “computing power is revenue” logic has set off a chain reaction in A-shares. On August 27, many Nvidia concept stocks strengthened, the Science Innovation 50 Index closed up 3.77%, and the Science Innovation Chip Design-Themed ETFs collectively closed higher. The market is not only asking how Nvidia is currently performing, but also evaluating how long the boom in the computing power sector it has driven can last. Demand for AI has not slowed 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.

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