Nvidia GTC Pre-Event Whales Lean Towards Risk Aversion, Two Major Holders Reduce Positions by Tens of Millions

BlockBeats news, October 21 - NVIDIA CEO Jensen Huang will deliver the GTC Berlin keynote speech from 17:00 to 19:00 Beijing time today. European industrial AI cooperation and expectations of large-scale chip procurement from the Chinese market are being released successively.

According to TradingBeats monitoring, NVDA stock contracts are quoted at approximately $220.75, up 1.71% in 24 hours, with a notional open interest value of approximately $95.36 million.

Before GTC, whales prefer to reduce heavy position risks

The significant changes come from two large holders, hedging in both long and short directions: an account that still held approximately $12.61 million in NVDA short positions yesterday has now fully closed its shorts, leaving only a light long position of approximately $359,000 (0x4e232);

Another large long holder actually sold approximately $6.357 million in the early hours of today, reducing 81% of the long position, with only approximately $1.491 million remaining (0x8eff).

Currently among million-dollar-level positions, 7 longs total approximately $22.1 million, and 9 shorts total approximately $31.44 million, with the largest short still holding approximately $16.04 million. Since Monday, the net long exposure of 27 large accounts has only slightly decreased by approximately $571,000, and no obvious one-sided position-building trend has formed yet.

Additionally, one long has placed sell orders of approximately $2.451 million at $243.82—$246.64, planning to exit about 80% of the existing position, which has not yet been executed.

It is reported that demand signals before this conference are not lacking, and the highlights may be order scale, delivery capacity, and revenue realization.

On October 19, the German government signed a letter of intent for cooperation with NVIDIA, planning to advance industrial AI, physical AI, and related model research and development. The key focus of today's speech lies in whether the two sides can further disclose specific customers, GPU procurement scale, and delivery timelines.

The Chinese market has also seen news of massive orders. According to a Reuters report on October 20, ByteDance, Alibaba, and Tencent collectively ordered more than 3 million RTX PRO 5500 graphics cards, estimated at over $35 billion based on list prices. However, NVIDIA cannot yet guarantee full delivery, and some partners may only receive 5% to 10% of the requested quantity.

Wall Street still maintains high expectations for NVIDIA's medium- and long-term growth. Morgan Stanley on October 2 maintained an "Overweight" rating and a $300 price target, and re-listed it as the top pick in the semiconductor industry; UBS on October 9 maintained a "Buy" rating and a $300 price target; Citi on October 6 reiterated "Buy" with a $315 price target; BNP Paribas Exane on October 5 raised its price target to $345.