黄仁勋：AI云需求“爆表”但资本稀缺，英伟达要把算力做成“可融资资产”
英伟达首席执行官黄仁勋10月22日在柏林 GTC 大会场边接受 CNBC 采访，给 AI 基础设施行业把了一次脉：需求不是问题，钱才是。
“看看基本面就知道，neocloud 的需求是爆表的（off the charts），它们的能力非同一般，而中间缺的，是为这种增长提供燃料的营运资金。”黄仁勋说。所谓 neocloud，是指向 AI 开发者出租 GPU 算力的新一代 AI 云公司，如 CoreWeave、Iren、Nebius。
“资本是稀缺的，对资本的需求远远大于资本的可获得性，”他说，“因为有太多 AI 细分赛道在争抢同一笔钱。”
黄仁勋抛出的解法带着金融色彩：让银行和投资人把英伟达的算力当作一种“可融资资产”。“我们正在做的一件事，是把英伟达的算力确立为一种可融资资产，”他说，“我们算力的残值，因为可替代、生产力高、耐用，现在正在成为一个资产类别。”
他还表示，英伟达对与中国公司合作持开放态度，包括存储芯片制造商长鑫存储（CXMT），并称美国的出口管制加速了中国自研芯片的进程。
这番表态的背景是8月宣布的一项5000亿美元 AI 融资计划，参与方包括 Apollo、BlackRock、Blackstone、Brookfield、高盛和 KKR。采访当天市场并不买账：英伟达盘前一度跌约2%，几家 neocloud 公司也同步走低。
Jensen Huang: Neocloud Demand Is "Off the Charts" but Capital Is Scarce; Nvidia Wants Its Compute Treated as a "Financeable Asset"
BERLIN — Nvidia CEO Jensen Huang gave the AI infrastructure industry a checkup in a CNBC interview on the sidelines of GTC Berlin on October 22: demand is not the problem — money is.
"If you look at the fundamentals, the demand for the neoclouds is off the charts. Their capabilities are extraordinary, and so what is missing in the middle is the working capital to fuel that growth, to fund that growth," Huang said. Neoclouds are the new breed of AI cloud companies — such as CoreWeave, Iren and Nebius — that rent GPU capacity to AI developers.
"There's a scarcity of capital. The demand [for] the capital is much greater than the availability of the capital," he said, "because there's just so much demand across so many sectors of AI."
Huang's proposed fix has a financial flavor: getting lenders and investors to treat Nvidia's compute as a "financeable asset." "One of the things that we're trying to do is to establish Nvidia's compute as a financeable asset," he said. "The residual value of our compute, because it's fungible, it's so productive, it's so durable, it is now becoming an asset class."
He also said Nvidia remains open to working with Chinese companies, including memory maker CXMT, and that U.S. export controls have accelerated China's efforts to develop its own chips.
The comments follow Nvidia's August announcement of a $500 billion AI financing plan with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR. Markets were unmoved on the day: Nvidia fell as much as 2% in premarket trading, with neocloud names sliding in sympathy.
来源：GSM·美国（原文链接）
图片来源：图：英伟达创始人兼 CEO 黄仁勋（资料图，2026年4月30日摄于斯坦福大学）。Anderseidesvik 摄，CC BY-SA 4.0，经维基共享资源（Wikimedia Commons）。Photo: Nvidia founder and CEO Jensen Huang (file photo, April 30, 2026, at Stanford University). By Anderseidesvik, CC BY-SA 4.0, via Wikimedia Commons.
