英伟达统治AI时代:下游产业的算力革命与万亿机会

QYResearch
Feb 19

过去三年,英伟达(NVIDIA)已成为全球科技产业的核心驱动力。2025财年,公司全年营收突破约1300 亿美元,数据中心业务占比接近90%,毛利率维持在70%–75%区间。Blackwell GPU 和相关平台成为推动这轮 AI 基础设施升级的主要引擎。这意味着下游行业——从云服务到企业 IT、从软件平台到终端应用——正在围绕这股算力浪潮重新定义其架构、投资与商业模式。一、英伟达营收与算力扩张的...

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