저자: CathieWood · 외국인
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AI 학습칩 비용 급락과 딥시크 충격으로 추론(inference) 칩 수요가 학습칩보다 중요해질 것으로 봄. ARK는 현재 시장 확대에 완전투자 상태이며 엔비디아는 일부 펀드에 보유 중이나 아직 저가매수는 하지 않음. 자율주행·유전체/AI/유전자편집(크리스퍼) 결합 헬스케어를 장기 성장 테마로 제시. 팔란티어(PaaS)의 점유율 상승 전망.
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big question you buying the dip uh well we're fully invested and we're very comfortable being fully invested uh I think our confidence in the uh bull market broadening out has increased in the last few days uh so sure the mega caps we think will continue to do well uh maybe Nvidia there are some questions uh about its uh exalted position in the training chip Market um we think inference is going to become more important uh with these new reasoning models and that is a more competitive part of the market uh but we think that uh what's Happening Here is the collapse in the cost of innovation uh deep seek is adding to it it has been happening though AI training costs have been dropping led by Nvidia uh 75% per year uh and AI inference costs have been dropping 85 to 90% per year deep seek is just putting those very rapid declines into a bit of overdrive here ar phem Kathy Wood shocks the stock market once again and reveals the exact perfect time to sell and possibly buy the Nvidia dip while making the most amount of money Kathy talks about deep seek Ai and its impact on the wider Tech Market suggesting there is more more than one opportunity for NVIDIA holders to come out with a win as Nvidia prepares to announce its fiscal fourth quarter earnings there's plenty of Buzz about what the future holds but what makes Nvidia such a compelling story right now let's delve into the details welcome back to invest ocracy and we've got Elon musk's first earnings call tomorrow since Trump's return to the White House January typically a call that's a look ahead what do you need to hear from musk uh we need to hear uh a a continuation of we're about to launch uh our autonomous driving system I mean in effect they've launched it I have uh full self-driving I know it's not allowed here uh in the UK or in Europe um uh but the improvements you feel you feel safe but oh yes yes yes yes uh wayo really has broken through a lot of barriers uh I feel even though a weo vehicle is not safer than a than a human driven vehicle um uh it knows its roads its narrow roads meaning uh there are narrow territories uh I think Tesla is going to go National that's going to be and and we'll be able to do so because it has effectively 7 million robots roaming the roads right now I have two of them a y and a three and they're learning all about Connecticut and Florida World roads um so it has a huge competitive uh advantage in terms of proprietary data that nobody else has uh about the roads not only in the US but uh in many places around the world do you worry that Elon Musk is taking on too much if he's got his new job in the US government he's got you know sharp developments coming in Tesla Lots going on with his other businesses as well is he spreading himself too thin if uh if you look at the way Elon Musk behaves as a CEO he's a sharpshooter he looks for pain points and he solves those right and he's for for example right now where was or in 2018 where was the biggest pain point it was manufacturing the model 3 scaling the model 3 he slept famously in on the factory floor uh he's not doing that anymore he's not on the factory floor now it's all about autonomous he is the first what we would call um CEO who really understands the convergence among Technologies taking place right now uh really catalyzed by artificial intelligence each one of his businesses and he also understands how critically important proprietary data is and think about this each of those companies is generating proprietary data that no one else has well maybe you should op to his plate should he buy us Tik Tok yes I mean I know there there have been rumors about that and and about the government uh uh sharing half and that that's kind of anema to the United States you know the government getting involved like this I'd be surprised if that happens but I will also say the Trump Administration is full of surprises launched just recently Blackwell anticipated to Rak in billions by the end of February and while a recent report from Deep seek a Chinese AI startup suggested companies might be spending unnecessarily on AI nvidia's premium performance gpus still boast unrivaled efficiency admittedly the stock took a temporary hit but remember speed and efficiency win in the AI race and nvidia's Tech has it in Spades I think what it's telling us is the cost of innovation is collapsing which it has been doing I mean the cost uh of uh AI training is dropping before this 75% per year the cost for in inference 85 to 90% um I think it uh throws the weight more towards inference chips from training chips and so nvidia's highly exalted and deservedly so in the training chip space inference is a lot more uh competitive okay do we do we fully understand the implications of that because the question everybody's asking this morning is do I buy the dip so if if we're seeing the landscape changing is it too early to make that transition and understand what the implications of it are yes we've been studying the tech stack and where we think it's going we're going to put out Big Ideas in I think a week uh give us some hints yes so here's a hint uh we do think there are share shifts taking place within the techstack uh we think platform as a service so think paler is going to gain significant share and this news yesterday uh I think uh highlights that reinforces that uh we think infrastructure as a service uh is is going to stabilize the share uh Sal I mean um software as a service will come down a share however I've said all of that all of them will be growing rapidly it's just how rapid and paler we should say is one of your one of your Holdings of course a company you know very well Kathy so if inference is going to become cheaper is this going to be a situation that drives more demand we were talking about you know is that where the positivity comes from for the companies that don't train but do in do infer yes how positive is this going to be uh it's going to be extremely positive so the those using AI whether for productivity or other applications are going to benefit we think the two most profound uh use cases right now besides increasing productivity for everyone uh autonomous Mobility so think cars drones and so forth and uh interestingly the healthcare space uh we think the convergence of various sequencing Technologies Ai and crisper Gene editing that convergence is going to cure more and more diseases over time moving beyond there are two major reasons Nvidia deserves a spot in your portfolio first the company is due to report its Q4 earnings on February 26th shedding light on how Blackwell's early performance impacts Revenue given prior Whispers of high demand this could Propel share prices higher second Nvidia stands poised to capitalize on a $500 billion infrastructure initiative in the es I think uh competition is great for the US and uh deep seek is competition no doubt about it I'm hearing all of the Titans uh Tech Titans uh uh speak of it glowingly I don't think we know everything about it yet uh so no I think it's uh competition is good for the United States lowering cost is great for the world uh the collapse in the cost of innovation should help all regions of the world I will say uh that new productive forces which was shishi Bing's uh new phrase uh I think 18 months ago uh seems to be showing through right now common Prosperity was the previous one and I I still think that's an effect that was more about margin this is about Innovation so um we're looking more closely at China now as February unfolds Nvidia presents a golden opportunity for investors seeking growth in the AI space with impressive initial demand for their Blackwell chips and upcoming earnings likely to provide further validation nvidia's stock is positioned to Surge past predictions but what are your thoughts is NVIDIA destined to remain The Golden Child of the AI Revolution or is there room for another Contender
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