Table 4.
Variable descriptions and data sources.
| Variable | Value | Description | Data source |
|---|---|---|---|
|
1.25 billion yuan | Government subsidies received by FII in 2023 | WIND database |
|
15%
|
Government subsidy equal to 15% of intelligent equipment procurement cost | Chongqing Government Document No. 69 (2018) |
|
48.6 billion yuan | Average server procurement cost of demand-side enterprises in 2023 | WIND database |
|
486.4 billion yuan | NVIDIA’s operating costs in 2023 | Enterprise financial report |
|
20 billion yuan | Cost savings enabled by intelligent transformation | Existing literature34,35 |
|
46.1 billion yuan | Average operational cost of FII-related businesses in 2023 | WIND database |
|
636.7 billion yuan |
NVIDIA’s operating revenue in 2023 | Enterprise financial report |
|
|
NVIDIA’s maximum annual revenue level exceeding 50% industry profitability | Essence securities research report |