观点

关税和衰退担忧导致英伟达大跌，重新建仓

二季度市场先因「解放日」关税和衰退预期大跌，后随 AI 数据向好反弹。勒布说，消费者和企业持续采用 AI、科技公司坚定投入 AI 资本开支，推动了科技股上涨；他们重新建仓英伟达，因为认为它在关税担忧、衰退恐惧、机架部署放缓和对数据中心投资回报的质疑下跌得过多。

We re-initiated a position in Nvidia, which we believed had sold off sharply due to tariff concerns, recession fears, rack deployment slowdown and increased scrutiny of prospective ROI of new data center capex.