Data: FactSet; Chart: Matt Phillips/Axios 尽管英伟达首席执行官黄仁勋在周末爆出丑闻后遭遇困境，人工智能板块仍重新获得上涨动能，这或许正是由于这些困境。
Data: FactSet; Chart: Matt Phillips/Axios The AI trade has regained momentum despite — or maybe because of — Nvidia's struggles following the weekend revelations from CEO Jensen Huang. The big picture:
全貌：周一人工智能概念股突然爆发热情，这是上周中期选举中的“蓝色海啸”及其可能对数据中心热潮构成的威胁颠覆市场后，市场经历的最新一次剧烈波动。
Monday's sudden burst of exuberance for AI was the latest wide swing for a market upended by last week's "blue tsunami" in the midterm elections and the threat they could pose to the data center boom. By the numbers:
数据：大型科技股纳斯达克100指数飙升3.4%，创下3月下旬以来最大单日涨幅，也是该指数今年第二佳表现。
The Nasdaq 100 index of large-cap technology shares soared 3.4%, its biggest daily jump since late March and its second-best showing of the year.
细节：整个整个人工智能生态系统的股票全线大涨——好吧，除了一个重要的例外。
Zoom in: Stocks romped across the AI ecosystem — well, with one important exception.
- 工程和建设公司等卖铲人概念股，以及光纤电缆、服务器和数据存储设备等数据中心投入品制造商大幅飙升。
• Pick-and-shovel plays such as engineering and construction companies, and makers of data center inputs like fiberoptic cables, servers and data storage devices soared.
- 构建并出租数据中心计算能力的被称为新云的公司也出现跳涨。（这些公司此前曾处于对人工智能热潮融资担忧的震中。）
• The companies that build and lease out data center computing power, known as neoclouds, also jumped. (Those companies had been at the epicenter of recent jitters about financing for the AI boom.)
- 超大规模云服务商上涨，其中Meta领涨，涨幅达到5.1%。
• Hyperscalers rose, paced by Meta, which notched a gain of 5.1%.
- 半导体板块强劲上涨，费城半导体指数创下7月下旬以来的最佳涨幅——6.9%。
• Semiconductors roared, with the SOX index posting its best gain — 6.9% — since late July.
然而：这场人工智能狂欢中一个显眼的例外是其最知名的企业英伟达。
Yes, but: The glaring exception to the AI-palooza was its best-known player, Nvidia.
- 首席执行官黄仁勋在周末披露的消息——他承认与一名涉嫌与中国情报部门有联系的女性有染——让投资者开始应对关于这位CEO未来的不确定性。
• Weekend revelations from CEO Jensen Huang — who acknowledged having an affair with a woman suspected of connections to Chinese intelligence — left investors grappling with uncertainty about the CEO's future.
内幕：一些投资者可能将英伟达的痛苦视为竞争对手的潜在收益。
The intrigue: Some investors may see Nvidia's pain as potential gain for rivals.
- 博通大涨8.8%，创下近一年来的最佳单日表现。
• Broadcom jumped 8.8%, its best day in nearly a year.
- 超威半导体飙升13.3%，同时也受益于奥本海默分析师周日将其评级上调至“跑赢大盘”——实质上就是“买入”建议。
• Advanced Micro Devices soared 13.3%, benefiting also from an upgrade to "Outperform" — effectively, a "buy" recommendation — from Oppenheimer analysts on Sunday.
背景：华尔街的乐观言论为周一的大幅反弹奠定了基调，分析师敦促投资者逢低买入近期疲软的市场。
Context: Bullish commentary from Wall Street established the background music for Monday's big bounce, as analysts urged investors to buy into the market's recent soft patch.
- 高盛分析师在周一的一份报告中写道：“我们认为股票目前显然处于超卖区域。”
• "We believe stocks are now clearly in oversold territory," Goldman Sachs analysts wrote in a note Monday.
- 摩根士丹利科技分析师在周日晚间发布的一份题为《买入回调：美国中期选举后的人工智能投资机会》的报告中写道：“我们认为市场对中期选举的反应过度了。”
• "We believe the market's reaction to the midterms is overdone," wrote Morgan Stanley tech analysts in a note entitled "Buy the Drop: AI Investment Opportunities Post the U.S. Midterms," which it published Sunday night.
- 摩根大通股票策略师周一写道：“我们不认为人工智能在这里会持续遭到抛售。事实上，科技股的回调正提供某些机会。之前的抛售非常剧烈。”
• "We do not think AI is a continued sell here. In fact, tech drawdown is offering certain opportunities. The selloff was very sharp," JPMorgan equity strategists wrote Monday.
这些分析师可能是对的。近期芯片等特定板块的跌幅很深。
These analysts could be right. The recent slump has been deep in certain sectors such as chips.
- 并且在近年来，逢低买入一直是一个稳健的策略，特别是对散户投资者而言。
• And buying the dip has been a solid strategy in recent years, especially for retail investors.
另一面：另一方面，这类股票遭到抛售可能存在充分的理由。
The other side: On the other hand, there may be good reasons such stocks sold off.
- 例如，甚至在有关英伟达首席执行官的新闻或投票中出现反对数据中心的呼声之前，华尔街对超大规模云服务商资本支出的预期就已经显得有些平淡。
• For example, even before the news about the Nvidia CEO or the anti-data center vote at the polls, Wall Street expectations for capital expenditures from hyperscalers had been looking a bit flat.
- 鉴于这笔人工智能投资很大一部分都花在了让这些计算中心得以运行所需的半导体上，这对科技投资者来说似乎非常重要。
• Given that a large percentage of that AI investment is spent on the semiconductors needed to make these computing centers, well, compute, that would seem to be important for tech investors.
下一步：股市的这轮反弹会是新一轮人工智能狂热的开始吗？
What's next: Will the stock market's rally be the start of a new phase of AI exuberance?
- 还是这只是华尔街常说的死猫反弹的一个例子？
• Or is it just an example of Wall Street's proverbial dead cat bounce?