By the time we got back to the mansion, it was completely dark, and the night air in Los Angeles was a bit dry.

As soon as the car came to a stop, Grant's team of American lawyers was waiting in the conference room.

A stack of documents was placed on the table.

SpaceX existing shares transferred: 1%.

The valuation is not low, and the terms are not very favorable.

Lu Jingyi took off her trench coat, sat down, and only turned two pages before her brows furrowed slightly.

"Musk really doesn't give you any concessions at all."

The lawyer explained, "SpaceX is not short of ordinary funds at present, and it is already quite remarkable that it has opened the window for the transfer of existing shares."

Chen Mo sat down next to him and took a sip of water: "Everything is difficult at the beginning. I'm already very satisfied with getting 1%."

Lu Jingyi shrugged. She still didn't understand why Chen Mo would be so interested in a private aerospace company that was consistently losing money.

She attributed this to the fact that every Chinese person has a dream of going to the moon.

The lawyer continued to explain the risks.

The origins of existing shares are complex, requiring confirmation from early shareholders, as well as handling compliance, taxation, and equity registration in the United States.

To make matters worse, Creation has recently come under the scrutiny of a Washington-based background consulting firm.

Although it's still just a background check, once the SpaceX deal goes through, Creation's presence in the US tech world will be much stronger.

Chen Mo didn't react much after hearing this.

"Proceed as normal. If we encounter regulatory inquiries, we will follow the rules and procedures. If anyone tries to probe privately, we will first report to President Lu."

The lawyer nodded.

……

The next morning.

The convoy headed towards Silicon Valley.

Unlike SpaceX's ruggedness, Nvidia gives a much quieter first impression.

The building's exterior is simple, and many people in the park carry laptop bags and walk quickly.

Someone was standing downstairs drinking coffee, while gesturing with their other hand about some kind of curve.

Lu Jingyi took a look after getting out of the car.

"This finally feels like a tech company."

Chen Mo laughed and said, "Building chips is not the same as building rockets."

Nvidia's hospitality was far more attentive than SpaceX's.

In the private conference room, several exquisitely designed display boards showcasing the latest graphic chips hung on the walls.

Ten minutes later, Huang Renxun walked in.

He was still wearing a black leather jacket, not very tall, but his steps were very steady.

He shook hands with Lu Jingyi first, then looked at Chen Mo.

"Mr. Chen, welcome to NVIDIA."

He speaks Chinese quite fluently.

Chen Mo stood up.

"Mr. Huang, I've heard so much about you."

After they sat down, Huang Renxun didn't go too far.

"Recently, we've had a lot of investors approaching Nvidia. They're mostly interested in gaming graphics cards, gross margins, channel inventory, and stock price."

He smiled as he said this.

"What would Mr. Chen like to ask?"

Chen Mo looked at him.

"CUDA".

There was a moment of silence in the conference room.

Hwang In-hoon's smile didn't disappear, but his eyes changed.

Are you interested in CUDA?

"right."

Why?

"Because gaming graphics cards are just the market that keeps GPUs alive," Chen Mo said, "not its end."

Hwang In-hoon nodded: "Continue."

Chen Mo did not take the documents.

He reached for the whiteboard marker and wrote two words on the whiteboard in the conference room.

Serial and parallel.

"CPUs excel at complex logic, while GPUs excel at massively parallel computing."

"In the past, the most intuitive application of parallel computing was graphics rendering, so GPUs were often understood as graphics devices."

"But in the future, not all problems will require people to write the rules. Models will become larger and larger, and data will become more and more abundant."

Training a model requires parallel computing.

Hwang In-hoon did not interrupt.

Lu Jingyi sat next to him and noticed that he leaned forward slightly, which was a clear signal.

Chen Mo continued writing a few more words.

Image recognition, speech, autonomous driving, recommendation systems, generative models.

"These things seem very fragmented now. But they all share common underlying needs: data, models, and computing power."

"Whoever can provide a stable, programmable, and scalable computing platform will reap the benefits of the next wave of computing platform development."

Huang Renxun finally spoke.

Do you think GPUs will replace CPUs?

"Won't."

Chen Mo answered quickly.

"GPUs will never completely replace CPUs, Mr. Huang."

"But in the future intelligent era, it will become the only steam engine in the entire digital industrial system."

The meeting room fell silent for a moment.

Huang Renxun did not speak immediately.

A moment later, he took off his glasses and gave a self-deprecating laugh:

"This metaphor... is far too grand."

"Therefore, the market will be very large."

Chen Mo put down his pen.

Huang Renxun put on his glasses, his expression grave: "Mr. Chen, now that you've foreseen this step, in your opinion, which industry will be the first to experience an explosive surge in this GPU-driven computing power dividend?"

"Top-tier research institutions, advanced autonomous driving, and image and voice recognition across the entire industrial system."

Chen Mo paused.

"And content platforms."

"Content platform?"

"I invested in a short video product in the country."

Lu Jingyi glanced at him sideways.

Chen Mo continued, "Right now it just looks like an entertainment tool."

"But what truly determines how far it can go is not the tool itself, but what the next piece of content is after the user opens it."

Huang Renxun's expression became more serious.

"Recommendation algorithm".

"right."

Chen Mo drew a simple cycle on the whiteboard.

"Content platforms generate a large amount of behavioral data, which feeds the models, and the models improve recommendation efficiency."

"Improved recommendation efficiency leads to increased user dwell time."

"When creators see traffic, they will produce even more content."

"Once this flywheel starts spinning, it will continuously consume computing power."

He looked at Huang Renxun.

"Short videos are just the first application to consume a lot of computing power; they won't be the last."

Huang Renxun leaned back in his chair, his gaze still fixed on the whiteboard.

He has met many investors.

Too many people think of Nvidia as just a graphics card company.

They'll ask about the gaming market, console lifecycles, and PC sales.

The young man in front of me bypassed all of that and went straight to talking about CUDA, parallel computing, model training, and recommender systems.

Some of these things are so old that most people in the capital markets simply don't bother to listen to them.

But Huang Renxun could understand it.

It was precisely because he could understand that he realized the other party was predicting where GPUs might go in the future.

"Mr. Chen," Huang Renxun looked at him with a complicated expression, "all of what you've said will take a long time to verify."

"I know."

"In this process, Nvidia may face countless sell-offs and failures in the capital markets."

"I know."

"Wall Street and the public capital markets have never had this kind of patience."

"Generating capital requires patience."

Hwang In-hoon was taken aback for a moment, then burst into laughter: "Hahaha! I like that line."

The meeting was successful.

Chen Mo made Huang Renxun realize that Chuangsheng was not an ordinary financial investor.

It understands better the path Nvidia wants to take in the future.

The conversation went much more smoothly afterward.

Over the next six to twelve months, Chuangsheng will gradually build a long-term position in Nvidia through multiple accounts and will also gradually acquire other Nvidia shares that the remaining structure needs to sell.

Meanwhile, Creation also plans to establish a small computing power laboratory.

Initially, it served recommendation algorithms, video content distribution, and AI research.

Nvidia is willing to set up a strategic cooperation team to maintain long-term communication with Creation.

Huang Renxun also suggested that the technology team could connect with the needs of the algorithm lab that creates the future.

Having said that, there's no need to delve any deeper.

That's enough for the first meeting.

Before leaving the meeting room, Chen Mo paused in the corridor.

In an open office area not far away, a young Chinese engineer was standing in front of a whiteboard, arguing with two colleagues.

The whiteboard was covered with CUDA kernel optimizations and memory access paths.

The man spoke very quickly, and his marker nearly poked the whiteboard several times.

Huang Renxun followed Chen Mo's gaze.

"Lin Qihang. He just joined recently; he's very smart and also very stubborn."

Chen Mo looked at it for a few seconds, said nothing, and silently memorized the name.

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