Today, I would like to discuss with you some recent developments in the U.S. stock market and the company NVIDIA.

It is well known that the Federal Reserve has frequently raised interest rates, which has attracted a lot of global capital to the United States. This has led to a continuous rise in U.S. stocks, real estate, and other assets.

Everyone knows Warren Buffett. As a world-renowned investment master, his every move is closely watched by netizens.

Some time ago, Buffett began to sell stocks of U.S. companies in a planned manner. Let me outline the timeline of Buffett's sale of U.S. company stocks as follows.

After Buffett sold 11.67 million shares of Bank of America in three consecutive trading days on September 25, 26, and 27, he recently sold Bank of America stocks in a hurry on October 8, 9, and 10.

According to information from the U.S. Securities and Exchange Commission (SEC), after 15 consecutive rounds of selling Bank of America, Buffett's shareholding ratio finally fell below 10%, and he no longer needs to disclose it quickly.

I have seen many netizens saying that Buffett's actions often have their unique considerations, but they cannot represent the overall economic trend. The change in the gold-oil price ratio is just one of many economic indicators, and one cannot conclude that the economy has entered a specific state based solely on this.

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Buffett is a human, not a god. Buffett's sale of U.S. stocks does not mean that the U.S. stock market is going to collapse. However, in my view, Buffett now has a large amount of cash on hand, which must have his considerations. The risk of the U.S. stock market is indeed very high.

Everyone is familiar with NVIDIA, right? NVIDIA's latest market value has reached $3.39 trillion, and it is now the world's largest technology company by market value.

Many people say that there is no bubble in NVIDIA because NVIDIA is a leading company in the global AI industry, and the AI industry is the most certain technology industry in the future.I do not agree with this statement. The issue with NVIDIA lies in its high valuation and whether it can meet future demand. It is well known that the greatest demand for chips is in AI. With the current AI market not yet monetized, how much room is there for demand for AI chips? The bottleneck for Chinese chips is technological breakthroughs, while for NVIDIA it is demand breakthroughs. Which is more difficult? Once there is a technological breakthrough, the Chinese market will definitely release demand, which is the expectation. However, even if NVIDIA's performance breaks through again, the biggest obstacle is the breakthrough in AI applications.

In other words, NVIDIA is just selling chips, but the current AI industry lacks commercial applications. Once China breaks through in AI chips, NVIDIA's biggest competitor will emerge. Of course, NVIDIA has long regarded China's Huawei as its biggest competitor.

Recently, Jensen Huang stated that NVIDIA will deploy AI assistants on a large scale in every department of the company to increase output. AI assistants can help employees handle trivial matters at high speed, and "AI will also recruit other AI to solve problems, AI can communicate with each other, and communicate with humans," thereby enhancing the company's collaborative efficiency. Huang also emphasized that although AI will change "every job," deploying AI in the company can "ensure employment" instead of "damaging the employment environment." This is because "applying AI can improve the company's productivity, promote the company's revenue growth, and thus provide higher benefits for employees."

I have told everyone before, don't look at what a person says, but look at what he does. If Huang is really full of confidence in the future of NVIDIA, then why does Huang himself want to cash out NVIDIA stocks in a big way?