公众号记得加星标⭐️，第一时间看推送不会错过。 HBF采用多层3D NAND芯片堆叠技术，与HBM互补，用于GPU。 人工智能工作负载的爆炸式增长给内存系统带来了前所未有的压力，迫使企业重新思考如何向加速器 提供数据。 高带宽内存 (HBM) 已用作 GPU 的快速缓存，使AI 工具能够高效地读取和处理键值 (KV) 数据。 然而，HBM 价格昂贵、速度快、容量有限，而高带宽闪存 (HBF) 则以较慢的速度提供更大的容量。 HBF 如何与 HBM 互补 HBF 的设计允许GPU访问更广泛的数据集，同时限制写入次数（每个模块大约 100,000 次），这就 需要软件优先处理读取操作而不是写入操作。 HBF 将与 HBM 集成到 AI 加速器附近，形成分层内存架构。 韩国科学技术院 (KAIST) 的金钟浩教授将 HBM 比作家里的书架，方便快速学习；而 HBF 则像一 个图书馆，内容更丰富，但访问速度较慢。 该概念设想未来的迭代产品（如 HBM7）可以作为"内存工厂"运行，数据可以直接从 HBF 进行处 理，而无需通过传统的存储网络。 HBF 将多个 3D NAND 芯片垂直堆叠，类似于 HBM 将 DRAM ...

赢家与输家：销售图表长期以来都显示，AMD正在稳步蚕食英特尔的CPU市场份额。然而，最近的 分析表明，苹果向自研Arm架构处理器的转型加剧了这一趋势，这家库比蒂诺巨头的笔记本电脑CPU 如今的销量几乎与英特尔的产品不相上下。 公众号记得加星标⭐️，第一时间看推送不会错过。 英特尔的市场份额在八年内从大约90%下降到60%。 Desktop CPU Unit Share 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Intel ARM (AAPL) 根据Citrini Research获取的Mercury Research和Bernstein Research的最新数据，苹果笔记本电脑 CPU的市场份额已达到约20%，与AMD持平。自2018年以来，这两家公司合计已将英特尔的市场份 额拉低了20%以上。台式机领域的情况也类似，尽管AMD在该领域的影响力远超苹果。 2018 年之前，英特尔占据了桌面 CPU 市场约 90% 的份额，笔记本电脑 CPU 市场超过 80% 的份 额。尽管该公司在这两个领域仍然拥有 60% 的市场份额，但自 2017 年推出 Zen 处理器以来 ...

英特尔(INTC.US)提交包含第四季度业绩的年度10-K报告后，富国银行指出，其中特别值得注意的是英 特尔作为半导体巨头的外部代工收入表现，以及这一情况可能为AMD(AMD.US)带来的潜在收益。截至 2025年12月27日，英特尔代工业务收入达45.1亿美元，同期总营收为136.7亿美元。针对这一财务表现， 富国银行分析师亚伦·雷克斯给予英特尔"持股观望"评级，并将目标股价设定为45美元。 富国银行分析师亚伦·雷克斯在致客户的报告中指出：英特尔全年外部代工收入达3.07亿美元，其中第四 季度单季收入为2.22亿美元，较2024年同期的1.59亿美元实现显著增长。不过雷克斯补充说明，这一增 长部分得益于英特尔于2025年9月将阿尔特拉部分业务出售给私募股权公司银湖的交易——交易完成后 阿尔特拉不再纳入英特尔合并报表，而该变动恰恰为第四季度外部收入带来了增量贡献。 雷克斯进一步分析指出："尽管我们尚未获取2025年第四季度服务器出货量的初步预估数据，但注意到 美光(MU.US)对2025日历年服务器出货量的乐观预测——同比增长约15%，反映出2025年下半年需求强 劲加速;同时Gartner数据显示2025年 ...

当地时间1月23日，美股三大指数开盘震荡，收盘涨跌不一，道指跌0.58%，纳指涨0.28%，标普500指数涨0.03%。 贵金属板块领涨，泛美白银涨超4%。科技股涨跌不一，微软、奈飞涨超3%，AMD、亚马逊涨超2%。英特尔跌17%，创2024年8月以来最大单日跌幅。 热门中概股涨跌不一，纳斯达克中国金龙指数收跌0.26%，小鹏汽车跌超3%，蔚来、阿里巴巴跌超2%，霸王茶姬、微博跌超1%；有道涨超4%，新东方涨 超2%，携程涨超1%。 国际贵金属价格再创新高，其中，黄金盘中一度涨破4990美元，白银站上100美元大关。 特朗普：不会为格陵兰岛支付任何费用 美国将取得"全面准入权限" 据新华社报道，美国政府为得到格陵兰岛颇费周折，但总统特朗普22日表示，不会为得到格陵兰岛"支付任何费用"。 此前，他曾多次宣称要把格陵兰岛"买"下来，收购谈判已在进行中。虽然丹麦政府和格陵兰岛方面已把"不卖"两个字说得清清楚楚，但特朗普仍持续向欧 洲盟友强硬施压。 路透社22日在一篇题为《特朗普能买下格陵兰岛吗》的文章中说，鉴于买卖领土的交易市场并不存在，要给格陵兰岛贴上"有意义的价格标签"不可能。然 而，美国战略与国际问题研究中心 ...

每经编辑｜段炼 当地时间1月23日，美股三大指数开盘震荡，收盘涨跌不一，道指跌0.58%，纳指涨0.28%，标普500指数涨0.03%。 贵金属板块领涨，泛美白银涨超4%。科技股涨跌不一，微软、奈飞涨超3%，AMD、亚马逊涨超2%。英特尔跌17%，创2024年8月以来最大单日跌幅。 热门中概股涨跌不一，纳斯达克中国金龙指数收跌0.26%，小鹏汽车跌超3%，蔚来、阿里巴巴跌超2%，霸王茶姬、微博跌超1%；有道涨超4%，新东方涨 超2%，携程涨超1%。 国际贵金属价格再创新高，其中，黄金盘中一度涨破4990美元，白银站上100美元大关。 图片来源：视觉中国（资料图） 此前，他曾多次宣称要把格陵兰岛"买"下来，收购谈判已在进行中。虽然丹麦政府和格陵兰岛方面已把"不卖"两个字说得清清楚楚，但特朗普仍持续向欧 洲盟友强硬施压。 路透社22日在一篇题为《特朗普能买下格陵兰岛吗》的文章中说，鉴于买卖领土的交易市场并不存在，要给格陵兰岛贴上"有意义的价格标签"不可能。然 而，美国战略与国际问题研究中心北极问题专家奥托·斯文森认为，将格陵兰岛的总体收购成本估算为接近1万亿美元"具有合理性"。 他在一份电子邮件声明中说，这笔钱不 ...

Group 1: Stock Market Performance - The three major U.S. stock indices closed mixed, with the Dow Jones down 0.58%, the Nasdaq up 0.28%, and the S&P 500 up 0.03% [2] - Technology stocks showed mixed results, with Microsoft and Netflix rising over 3%, while AMD and Amazon increased over 2% [2] - Intel experienced a significant drop of 17%, marking its largest single-day decline since August 2024 [2] Group 2: Chinese Stocks and Indices - The Nasdaq Golden Dragon China Index fell by 0.26%, with notable declines in stocks such as Xpeng down over 3%, NIO and Alibaba down over 2%, and Weibo down over 1% [3] - Conversely, stocks like Youdao rose over 4%, New Oriental increased over 2%, and Trip.com gained over 1% [3] - The FTSE China A50 Index futures rose by 0.41%, closing at 14,843 points [4] Group 3: Precious Metals - Spot silver surged by 7.34%, reaching $103.21 per ounce [5] - New York silver also increased by 7.17%, priced at $103.28 per ounce [6] - Silver saw a substantial annual increase of approximately 147%, driven by strong demand, limited refining capacity, and ongoing supply shortages [6] - Analysts noted that geopolitical tensions, a generally weaker dollar, and expectations of a shift to monetary easing by the Federal Reserve are influencing gold demand [6] - Spot gold rose by 1.01%, reaching $4,986.02 per ounce [7]

AMD might be better equipped than Intel to handle a supply crunch. ...

Earlier this month, I analyzed the SA Quant Top 10 in 2026 selected by Steven Cress and team as if it were an equal-weight ETF, using consensus data to calculate potential upside, earnings growth, and valuation. Now, asI have more that 35 years of experience in the investment field having worked as a sell & buy side analyst and portfolio manger for debt and equity funds. I am currently managing a high yield Latam bond fund.My goal, as a Seeking Alpha contributor, is to provide a fundamental view and analysi ...

Core Viewpoint - Advanced Micro Devices (AMD) has experienced significant stock growth, rising over 105% in the past year, with a current market capitalization of $407 billion, reflecting a valuation of approximately 11.8 times expected sales and 36 times expected earnings [1]. Group 1: Valuation and Market Position - AMD's current valuation may not appear attractive by traditional metrics, but it could be considered a deep-value opportunity as time progresses [2]. - The company is expected to continue gaining market share from Intel in the PC and server CPU markets, while also making strides in the AI GPU sector [3]. Group 2: AI Market Dynamics - While ultra-high-end GPUs are crucial for training AI models, more cost-effective hardware can efficiently run AI models, potentially improving AMD's margins despite lower margins compared to top-tier processors [4]. - AMD is not expected to surpass Nvidia in ultra-high-end GPU performance this year, but it has secured a significant partnership with OpenAI, indicating potential for growth in the AI space [5]. - Major tech companies are likely to reduce reliance on Nvidia's processors, with AMD GPUs providing a viable alternative for diversification, particularly in the less hardware-intensive model inference phase [6]. Group 3: Revenue Growth and Future Outlook - If AI revenue growth continues to accelerate, investors may be willing to pay higher valuation multiples for AMD, which reported a 36% year-over-year revenue increase in Q3 2025 and a gross margin of 52% [7]. - The current growth-dependent valuation of AMD may appear attractive if demand for its AI processors continues to rise [8].

Core Insights - Advanced Micro Devices, Inc. (AMD) is recognized as one of the best quantum computing stocks to buy for 2026, particularly due to its strategic collaborations and investments in AI technology [1] Group 1: Strategic Collaborations - Tata Consultancy Services (TCS) has announced a strategic collaboration with AMD to enhance AI adoption, modernize legacy systems, and create secure digital workplaces [1][2] - Both companies plan to invest in talent to develop a pool of experts for co-innovating next-generation AI solutions [2] - Industry-specific GenAI frameworks are expected to be created for sectors such as life sciences, manufacturing, and banking, financial services, and insurance (BFSI) [2] Group 2: AI Performance Enhancements - The collaboration aims to deliver tailored accelerators, frameworks, and best practices to improve AI performance across training and inference workloads [3] - This initiative is designed to help companies fully leverage the capabilities of AI technology [3] Group 3: Data Center Lease - Riot has entered into a Data Center Lease with AMD to provide 25 MW of critical IT load capacity at the Rockdale Site, with an initial term of 10 years [3]