智通财经APP获悉，周三，法国巴黎银行发布报告，将网络设备制造商Arista Networks(ANET.US)的股票评级从“跑赢大盘”下调至“中性”，理由是来自芯片巨头英伟达(NVDA.US)的竞争威胁正持续加剧。
该行分析师卡尔·阿克曼(Karl Ackerman)在报告中指出，人工智能(AI)网络市场正经历“快速转向”——从传统InfiniBand架构向以太网技术迁移。这一趋势下，英伟达凭借其硬件生态优势，联合天弘科技(CLS.US)、Accton等白牌交换机供应商，正加速蚕食Arista长期主导的后端以太网网络市场份额。
阿克曼特别提到，英伟达计划于2025年下半年推出的机架式GPU架构及支持1.6T速率的Quantum-X交换机，将比同类以太网解决方案提前整整一年落地。这一时间差可能“挤压Arista的短期市场机遇”，尤其在AI数据中心需求爆发期，客户或更倾向选择集成度更高的英伟达方案。
基于竞争格局变化，阿克曼大幅下调Arista的长期业绩预期：其2027年AI相关业务收入预测从34亿美元削减至25亿美元，降幅达26%。尽管Arista当前在数据中心交换机领域仍保持技术领先，但分析师认为，若无法快速应对英伟达生态链的冲击，其市场份额或将面临结构性挑战。
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