Investing.com -- 券商Bernstein周一表示，关于英伟达（NASDAQ:NVDA）首席执行官黄仁勋与一名疑似中国情报来源存在关系的指控，充其量只会成为“沉重的干扰”，最坏的情况则会给两党议员提供“重要弹药”。
Investing.com -- Allegations that Nvidia (NASDAQ:NVDA) CEO Jensen Huang had a relationship with a suspected Chinese intelligence source will at best be a "heavy distraction" and at worst give "significant ammunition" to lawmakers on both sides of the aisle, brokerage Bernstein said on Monday.
Bernstein表示，对该芯片制造商产品的需求似乎不太可能受到影响，但随着人工智能建设成为更大的政治议题，监管风险可能上升，该消息很可能使英伟达继续处于这场辩论的中心。
Bernstein said demand for the chipmaker’s products seems unlikely to be affected, but regulatory risks could rise as AI buildouts become a bigger political issue, and the news is likely to keep Nvidia at the center of that debate.
Bernstein维持英伟达“跑赢大盘”评级，目标价400美元。该股于11月6日收于186.64美元，盘后交易价为178.70美元，较收盘价下跌4.25%。
Bernstein rates Nvidia "outperform" with a $400 price target. The stock closed at $186.64 on Nov 6 and traded at $178.70 after hours, down 4.25% from the close.
Bernstein表示，风险来自两个方向：对华采取强硬立场且已对美国目前的对华立场不满的议员，以及对黄仁勋过去几年与特朗普建立的密切关系不满的新任民主党人。
The risks come from two directions, Bernstein said: lawmakers who take a hard line on China and are already unhappy with the current U.S. stance toward the country, and incoming Democrats unhappy with the close ties to Trump that Huang has built over the last few years.
Bernstein还指出了其所谓的关键人物风险，即对单一人物的高度依赖。Bernstein称，黄仁勋制定英伟达的长期战略，且据称拥有60名直接下属，基本上独自掌控公司的大部分事务。
Bernstein also flagged what it called key man risk, meaning heavy reliance on one person. Huang sets Nvidia’s long-term strategy and, with supposedly 60 direct reports, pulls most of the company’s strings himself, it said.
目前尚不清楚如果他不愿或无法领导，谁能够或会接任。Bernstein表示，他被移除的主要受益者显然将是中国。
It is not immediately clear who would or could step in if he were unwilling or unable to lead. The main beneficiary of his removal would clearly be China, it said.
Bernstein表示，黄仁勋与Megaspeed技术高管Alice Huang的恋情似乎已得到证实，但间谍指控目前看起来站不住脚，因为它们依赖匿名消息来源。Bernstein称，目前一些间谍指控更多基于表象而非实质，但称此事“非常难看”。
Bernstein said the romantic nature of the relationship with Alice Huang, a technology executive at Megaspeed, appears confirmed, while the spy allegations look more tenuous for now because they rely on anonymous sources. It said some of the espionage claims so far rest more on appearance than substance, though it called the matter a very bad look.
一个担忧是Alice Huang可能影响了黄仁勋游说增加对华芯片销售。
One worry is that Alice Huang might have influenced Huang to lobby for more chip sales into China.
Bernstein表示，他多年来一直为此游说，但对华销售仍然很低。Bernstein的图表显示，中国（包括香港）在2027财年第二季度占英伟达营收的8%。
Bernstein said he has lobbied for that for years and China sales remain low. China, including Hong Kong, made up 8% of Nvidia’s revenue in the fiscal second quarter of 2027, Bernstein’s chart showed.
伯恩斯坦表示，华盛顿目前允许进入中国的芯片——H20以及有限数量的H200——属于低端产品，且落后于最先进技术多代，之所以在中国销售不佳，主要是因为中国正在推动使用本国产品。
The chips Washington currently allows into China, the H20 and the H200 in limited amounts, are low-end and multiple generations behind the state of the art, Bernstein said, and are not selling there mainly because China is pushing back in favor of its own products.
据Investing.com报道，英伟达董事会周日表示，已启动独立调查，并无理由相信国家安全或公司机密遭到泄露。黄仁勋在给员工的备忘录中承认了此事。
Nvidia’s board said on Sunday it was starting an independent investigation and had no reason to believe national security or company secrets were compromised. Huang admitted the affair in a memo to staff, Investing.com reported.
11月5日，众议院三位共和党委员会主席要求黄仁勋于11月18日出席闭门简报会，就英伟达的反间谍保护措施及其与Alice Huang的往来作说明。
Three Republican House committee chairs asked Huang on Nov 5 to attend a closed-door briefing on Nov 18 about Nvidia’s espionage protections and his dealings with Alice Huang.
伯恩斯坦称，这似乎是一个要求，而非传票。民主党参议员克里斯·库恩斯表示，国会将展开调查。
Bernstein said it appears to be a request, not a subpoena. Democratic Senator Chris Coons said Congress would investigate.
美国总统唐纳德·特朗普周日晚间在佛罗里达州棕榈滩对记者表示，黄仁勋“是一位好人……我认为他是个正直的人”，并“为国家做了一份了不起的工作”。他说自己未就相关指控与黄仁勋交谈过。当被问及是否会带黄仁勋参加下周的亚洲之行时，特朗普说：“不知道，但我当然会考虑带上他。”
U.S. President Donald Trump told reporters in Palm Beach, Florida, on Sunday evening that Huang is “a fine person… I think he’s an honorable guy” and has “done an amazing job for the country.”He said he had not spoken to Huang about the allegations. Asked whether he would take Huang on a trip to Asia next week, Trump said, “I don’t know, but I’d certainly take him.”