According to CoinMeta and research by Chaoxiang, in a research report on August 14, Morgan Stanley pointed out that NVIDIA has launched a new cloud architecture, providing credit guarantees to new cloud service providers in exchange for future cloud revenue shares. Morgan Stanley maintains its overweight rating on NVIDIA with a target price of $288, believing that this model has the potential to generate recurring revenue in the range of $10 billion. Morgan Stanley estimates that if the new cloud ecosystem reaches a scale of 25GW, and assuming an annual revenue of $20 million per MW, if NVIDIA receives a quarter of that share, its revenue could increase by about 60%. NVIDIA’s announced $500 billion investment fund has kept its direct exposure within 25%.