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"title": "黄仁勋：国家安全优先 走私晶片打造AI资料中心「是条死路」",
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"description": "辉达执行长黄仁勋周三 (24 日) 向股东表示，若商业机会与美国国家安全发生冲突，公司将优先考量国家利益。他补充，如果有企业企图将辉达的晶片或系统走私到受出口管制的国家——例如中国，将面临无法正常运作的问题。",
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"content": "<p>《CNBC》报导，辉达 (Nvidia)(NVDA-US) 执行长黄仁勋周三 (24 日) 向股东表示，若商业机会与美国国家安全发生冲突，公司将优先考量国家利益。</p>\n<p style=\"text-align:center;\"><img src=\"https://cimg.cnyes.cool/prod/news/6511244/l/4504f45dbebecb11acf2938720ec4b3a.jpg\" alt=\"黄仁勋：国家安全优先 走私晶片打造AI资料中心「是条死路」\" style=\"width:50%;height:auto;border-radius:6px;margin:15px auto;display:block;\"></p>\n\n\n<p>黄仁勋在年度股东大会结束后不久的一场活动中表示，「国家安全永远摆在第一。」</p>\n\n<p>他补充指出，如果有企业企图将辉达的晶片或系统走私到受出口管制的国家——例如中国，将面临无法正常运作的问题，因为辉达不会提供技术支援或维修服务。</p>\n\n<p>黄仁勋表示，「先进 AI 资料中心是由硬体、软体、网路及持续性技术支援整合而成的大型系统。试图利用一些走私产品东拼西凑建立资料中心，是一条死路。」</p>\n\n<p>黄仁勋这番言论正值华府监管机构与川普政府日益担忧，向中国及其他国家出口 AI 软硬体可能对美国国家安全构成威胁。</p>\n\n<p>本月稍早，使用辉达晶片的 Anthropic 在美国政府要求下，关闭了 Fable 5 及 Mythos 5 两款模型，停止外界使用其最先进的 AI 模型。</p>\n\n<p>自 2022 年起，辉达晶片便受到美国出口管制，公司因此专为中国市场推出符合美国出口规范的晶片。但在去年，美国政府批准辉达可向中国出口 H200 晶片，该款产品也是美国企业所使用的同型号晶片。</p>\n\n<p>黄仁勋表示，这些出口许可是由美国政府核准，但辉达至今尚未从 H200 晶片取得任何营收，同时不确定中国是否会允许相关产品进口。包括香港在内，中国市场约占辉达 2026 会计年度营收的 9%，比 2025 年及 2024 年的占比更低。</p>\n\n<p>黄仁勋在股东会上也表示，市场对 AI 投资报酬率的疑问「已经有了答案」。</p>\n\n<p>他指出，只要 AI 产出的内容具实际价值，例如协助撰写程式码，那么利用辉达系统生成 Token 便能创造利润，也代表企业需要更多运算能力。他举例称，今年 GitHub 的 Pull Request(程式码合并请求) 数量因 AI 增加了几乎三倍。</p>\n\n<p>黄仁勋谈到，「辉达系统或许不是最便宜的设备，但它能以最低成本生成 Token、提供最高的 Token 吞吐量，并创造最大的营收。」</p>\n\n<p>他也重申，未来几年辉达计划透过股票回购与股息，将公司 50% 的自由现金流回馈给股东。</p>\n\n<p>辉达在 2026 会计年度创造超过 960 亿美元的自由现金流。</p>\n\n<p>黄仁勋表示，「辉达为投资人提供了兼具卓越成长、高获利率、稳健自由现金流，以及持续提升股东资本报酬的独特投资价值。」</p>\n\n<p>在年度股东会上，股东也通过公司高阶主管薪酬方案，并重新选出全部 10 位董事。一项由外部股东提出的公司章程修正案也获得通过，未来所有股东提案只需获得过半数支持，即可表决通过。</p>\n<div class=\"related-articles seo-links\">\n <h4>相关阅读</h4>\n <ul>\n <li><a href=\"/new/mg/article-16409.html\" title=\"费半涨超3%！美科技股强弹 ARM飙逾8%、闪迪涨超6% 川普拟对伊朗恢复大规模作战\">费半涨超3%！美科技股强弹 ARM飙逾8%、闪迪涨超6% 川普拟对伊朗恢复大规模作战</a></li>\n <li><a href=\"/new/mg/article-10011.html\" title=\"华尔街的代币化热潮引发风险辩论\">华尔街的代币化热潮引发风险辩论</a></li>\n <li><a href=\"/new/mg/article-8806.html\" title=\"2016年来首见！Fed现3张反对票 摩根大通：释放转向紧缩关键讯号\">2016年来首见！Fed现3张反对票 摩根大通：释放转向紧缩关键讯号</a></li>\n <li><a href=\"/new/mg/article-2596.html\" title=\"SpaceX涨势稍歇别大意 8.9兆美元被动买盘正排队进场\">SpaceX涨势稍歇别大意 8.9兆美元被动买盘正排队进场</a></li>\n <li><a href=\"/new/mg/article-9593.html\" title=\"川普施压国防供应链去中化！洛克希德马丁转向美加采购关键矿物\">川普施压国防供应链去中化！洛克希德马丁转向美加采购关键矿物</a></li>\n <li><a href=\"/new/mg/article-2178.html\" title=\"SpaceX财报与重大讯息 仅在X及官网发布\">SpaceX财报与重大讯息 仅在X及官网发布</a></li>\n </ul>\n</div>",
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