捍卫王冠：英伟达以冷酷战略化解新兴威胁

Defending the Crown: Nvidia’s Ruthless Strategy to NeutralizeEmerging Threats 捍卫王冠：英伟达以冷酷战略化解新兴威胁 By作者：TheInformation编辑部The Information Staff Dec31,2025,9:57am PST Nvidia is consolidatingits dominance in the AI hardware market through a dual strategy of retreating from directcloud competition and aggressively expanding its footprint in AI inference. By restructuring its DGX Cloud division andstriking a $20 billion licensing and “acqui-hire” deal with startup Groq, the company is shifting from an external serviceprovider to a full-stack architect of the “AI factory.” These moves prioritize protecting its high-margin chip businesswhile neutralizing emerging architectural threats to its market lead. 英伟达正通过⼀项双重战略巩固其在AI硬件市场的主导地位：⼀⽅⾯从直接的云服务竞争中后撤，另⼀⽅⾯积极扩⼤其在AI推理领域的版图。通过重组其DGX Cloud业务，并与初创公司Groq达成⼀项价值200亿美元的授权与“收购式聘⽤”交易，该公司正从对外的服务提供商转型为“AI⼯⼚”的全栈架构师。这些举措优先保护其⾼利润率的芯⽚业务，同时化解对其市场领先地位构成的新兴架构性威胁。 We tasked Deep Research to analyze the strategic implications of Nvidia’s recent pivot and the Groq acquisition on theAI infrastructure landscape. Here is the response: 我们委托Deep Research分析英伟达近期战略转向及收购Groq对AI基础设施格局的战略影响。以下是其回应： According to The Information’s reporting, Nvidia’s recent moves—restructuring its cloud team and striking a massive$20 billion deal with Groq—are not contradictory but are two sides of the same strategic coin. These actions reveal acompany acutely aware of its vulnerabilities and aggressively using its dominant position and vast resources to secureits future against emerging threats. The strategy is to cede ground in high-conflict areas while simultaneouslyneutralizing threats to its core high-margin business. 根据The Information的报道，英伟达近期的⼀系列动作——重组其云计算团队，并与Groq达成⼀项⾼达200亿美元的巨额交易——并⾮相互⽭盾，⽽是同⼀战略硬币的两⾯。这些举措揭⽰出，这家公司清醒地认识到⾃⾝的脆弱性，并正积极利⽤其主导性的市场地位和庞⼤的资源，应对新兴威胁、为未来保驾护航。其策略是在⾼冲突领域主动让出部分阵地，同时对其核⼼⾼利润业务构成的威胁进⾏阻断和消解。 A Strategic Retreat from Direct Cloud Competition 从正⾯云竞争中的⼀次战略性撤退 Our reporting last week revealed that Nvidia is significantly restructuring its DGX Cloud division, backing away from itsambition tocompete directly with major cloud providerslike Amazon Web Services.1 我们上周的报道披露，英伟达正在对其DGX Cloud业务进⾏⼤幅重组，放弃直接与亚马逊云服务（Amazon Web Services）等⼤型云服务提供商正⾯竞争的雄⼼。1 Initially, Nvidia’s DGX Cloud was positioned as a way to offer a premium, optimized environment for AI developers,giving Nvidia a direct relationship with end-users and a new revenue stream. However, the effort faced significantheadwinds: 最初，英伟达将DGX Cloud打造为⼀个⾯向AI开发者的⾼端、深度优化计算环境，使其能够与终端⽤户建⽴直接关系，并开辟新的收⼊来源。然⽽，这⼀尝试⾯临着诸多阻⼒： Channel Conflict:The service put Nvidia in direct competition with its largest and mostimportant customers—the cloud providers who buy billions of dollars worth of its GPUs.1 渠道冲突：这项服务让英伟达与其最⼤、也是最重要的客户——那些以数⼗亿美元规模购买其GPU的云服务提供商——形成了直接竞争关系。1 Execution Challenges:Nvidiastruggled to attract customersand provide effective technicalsupport, as its service was running on the infrastructure of the very companies it was competingwith.1 执⾏挑战：英伟达在吸引客户和提供有效的技术⽀持⽅⾯举步维艰，因为其服务运⾏在它正与之竞争的那些公司所拥有的基础设施之上。1 Shifting Focus:The cloud team, known as DGX Cloud, is now being merged with Nvidia’sengineering and operations organization. Its primary mission will shift from selling to externalcustomers toserving the massive internal demand from Nvidia’s own engineersfor chipdevelopment and AI model research.1 重⼼转移：被称为DGX Cloud的云团队如今正并⼊英伟达的⼯程与运营组织。其主要使命将从向外部客户销售，转向满⾜英伟达⾃⾝⼯程师在芯⽚开发和AI模型研究⽅⾯的巨⼤内部需求。1 Why it matters:This move is a pragmatic recognition that Nvidia’s strength lies in being the “arms dealer” of the AIrevolution, not infighting trench warfare with established cloud giants. By retreating, Nvidia protects its core chipbusiness and avoids a costly and distracting battle, choosing instead to focus on areas where it has an undisputedtechnological moat. 为何重要：这⼀举措务实地承认了英伟达的优势在于充当AI⾰命的“军⽕商”，⽽不是与既有的云计算巨头展开堑壕战。通过后撤，英伟达得以保护其核⼼的芯⽚业务，避免⼀场代价⾼昂且分散注意⼒的消耗战，转⽽聚焦于那些它拥有⽆可争辩技术护城河的领域。 Bolstering the AI Inference Moat with Groq ⽤Groq加固AI推理护城河 Days after the cloud restructuring news, Nvidia stunned the industry by agreeing to a deal worth approximately$20billion to license technology from Groq and hire its CEO Jonathan Rossand other employees.This was not a standardacquisition but an “acqui-hire” and licensing deal, a structure thatmay help avoid immediate regulatory scrutiny.23 云服务重组消息公布仅数⽇后，英伟达就同意达成⼀项价值约200亿美元的交易，从Groq获得技术授权，并聘⽤其⾸席执⾏官Jonathan Ross及其他员⼯，震惊了整个⾏业。这并⾮⼀桩标准的收购，⽽是⼀项“⼈才并购”（acqui-hire）加技术授权的交易结构，这种做法可能有助于规避监管机构的即时审查。23 Try askingDeep Research to… 不妨试着向“深度研究”提出以下问题…… IsGoogle actually a threat to OpenAI and Nvidia? Whatis next for Apple after the recent executiveexodus? ⾕歌真的会对OpenAI和英伟达构成威胁吗？ 近来多名⾼管离职之后，苹果接下来将⾛向何⽅？ Whatmajor market shifts will define the AI Agentcompetitive landscape in 2026? Howdoes Broadcom factor into the AI chip race withNvidia, AMD and others? 哪些重⼤的市场变化将定义2026年AI Agent的竞争格局？ 博通在与英伟达、AMD等公司展开的AI芯⽚竞赛中扮演着怎样的⻆⾊？ Groq is a well-funded startup that specializes in chips for AI “inference”—the process of running an already-trained A