According to CoinMeta, NVIDIA (Nasdaq: NVDA) is evolving from a GPU into a comprehensive AI infrastructure platform. The Sands Capital-issued Sands Capital Technology Innovators Fund investor letter for the second quarter of 2026 indicates that global stocks saw a strong rebound during this quarter, with the MSCI ACWI index posting its best quarterly gain since 2020. The information technology sector performed exceptionally well, and semiconductor and hardware companies drove the index upward. The fund achieved a net return of 26.9% in the second quarter of 2026. NVIDIA was highlighted in the investor letter as a leading data center-level AI infrastructure company, with revenue growing by 85% and earnings per share increasing by 131% in the first quarter. Against the backdrop of continued strong demand for AI infrastructure, the company is transitioning from a GPU supplier to a system-level provider.