本周观点 相关标的 相关标的：东阳光、寒武纪、海光信息、利通电子、豫能控股、协创数据、网宿科技、优刻得、润泽科技、亿田智能、 华丰科技、神州数码、云天励飞、大位科技、润建股份、科华数据、中芯国际、华虹半导体、中科曙光、禾盛新材、 奥飞数据、首都在线、云赛智联、瑞晟智能、浪潮信息、潍柴重机、欧陆通等。 风险提示 行业竞争加剧的风险；技术研发进度不及预期的风险；特定行业下游资本开支周期性波动的风险。 敬请参阅最后一页特别声明 2 国产 Token 量破 140 万亿，国内算力厂商进入业绩临界点，CPU 涨价潮又起。1）2026 年 3 月国内日均 token 调 用量突破 140 万亿，两年增长超千倍；国产 AI 登上世界舞台，3 月 23-27 日全球 AI 大模型总调用量前十阵营中， 中国 AI 大模型占据六席，国内算力需求持续扩圈；在此背景下，国产算力、算力租赁 厂商已经进入业绩临界点。 2）CPU 涨价潮又起，25 年 10 月，英特尔率先上调前一代 PC 端处理器价格；26 年 1 月，英特尔与 AMD 年度服务 器 CPU 库存提前告罄，并酝酿约 15%的提价计划；26 年 3 月 25 日报道，英特 ...

根据洛图科技的数据，2026年开年1-2月，中国大陆笔记本电脑线上市场（不含抖音、快手）表现非常疲软，出现了罕见的双重暴跌： 销量暴跌：统计期内销量仅为 94.7万台，同比跌幅高达 40.5%。 销售额重挫：销售额为 59.9亿元，降幅同样超过 40%。 品牌格局方面，联想系以约35%的份额稳居榜首，惠普约14%位列第二，华硕系约12%紧随其后，机械革命和苹果分别以约8%、7%的份额占据第四、第五位。 一般情况下，消费电子销量每年上下波动10%-20%是正常的，比如去年买得多、今年买得少一点，或者反过来。但一旦跌幅超过40%，这就不是普通波动了，通常 意味着两种可能： 要么是去年基数太高，比如2025年国家有补贴、大家疯狂换新，把未来的需求提前透支了，导致2026年自然"断崖式"下滑；要么是市场本身出了问题，比如成本暴 涨 （内存、硬盘变贵等） 、产品没吸引力、消费者没钱或不愿换机，导致真实需求萎缩。 而这次笔记本市场销量暴跌40.5%，可谓是两者叠加，即存储芯片涨价与需求透支的双重冲击。 存储芯片价格暴涨是直接导火索。 据TrendForce集邦咨询估算，当存储芯片和CPU价格同时上涨时，两者在BOM中的合 ...

Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the 10 High Growth Mega Cap Stocks to Buy and Hold for Next 10 Years. On March 24, Bernstein analyst Stacy Rasgon signalled caution to investors in Advanced Micro Devices Inc. (NASDAQ:AMD). He suggests investors should wait and see whether demand for AMD chips comes from people genuinely looking for AMD products rather than from those buying just because supply is constrained elsewhere. Advanced Micro Devices (AMD) CEO Just "Keeps Winning," Says Jim Crame ...

Iran conflict latest: Trump pauses Iran energy plant strikes by 10 days Solid rebound in Hormuz tanker flows backs Trump's claim Oil prices tick down, set for weekly losses on Middle East de-escalation hopes Gold falls on mixed messaging regarding Iran; Trump asserts peace talks ongoing Arm's New Gambit: Building Chips to Challenge the AI Titans By MarketBeat.com Author Jeffrey Neal Johnson Stock Markets Published 03/27/2026, 02:59 AM Arm's New Gambit: Building Chips to Challenge the AI Titans View all comm ...

Intel and AMD Stocks Rise on CPU Price Hike Reports | Investing.com Iran conflict latest: Trump pauses Iran energy plant strikes by 10 days Solid rebound in Hormuz tanker flows backs Trump's claim Oil prices tick down, set for weekly losses on Middle East de-escalation hopes Gold falls on mixed messaging regarding Iran; Trump asserts peace talks ongoing AMD-7.49% A powerful rally in the shares of semiconductor giants Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD) is sending a clear message to ...

责编 | 梦依丹 出品丨AI 科技大本营（ID：rgznai100） 极致的推理延迟、极高的吞吐量、极大的模型规模……在大模型工程化的战场 上，这曾是一个被公认为'不可能'的三角。 回望 2025 年，DeepSeek-V3 技术报告为大家揭示了超大规模模型推理的新一代范式。通过 MLA 架构将 KV Cache 压缩 93%，配合 MTP（多 Token 预测） 技术大幅提升访存效率，全球开发者见证了万亿参数模型在大规模并发下实现"高吞吐、低延迟"的工程突破。 然而，站在 2026 年的当下，依靠 FP8 精度和基础架构已难以满足爆发式的即时响应需求。在大规模真实并发的洪流前，每一毫秒的延迟缩减，都直接 挂钩着数以亿计的算力成本与集群效能。 正是在这种"性能即生命"的行业背景下， 2026 线上黑客松：AMD E2E Model Speedrun 全球挑战赛正式拉开帷幕！ AMD 联手 GPU MODE，豪掷 110 万美元 发起这场全球竞速。 寻找那些 能徒手 拆解底层逻辑、 将 AMD 旗舰算力的每一滴潜能都榨取出来的顶级开发者。 预选赛——入围即拿 1 万美金 本次大赛采用"预选赛 + 端到端决赛大考 ...

The Meta Platforms TradeThe NVDA TradeArk Invest reduced its position in NVIDIA by selling 154,441 shares across ARKF, ARKK, and ARKW, totaling approximately $26.6 million at a closing price of $171.24. TThis move aligns with concerns highlighted by Scott Galloway, who warned of potential overvaluation in AI-centric companies. The tech sector’s high expectations could lead to significant market corrections, according to the report.The AMD TradeArk Invest also sold 38,245 shares of  AMD through ARKK and ARKW ...

Microchip with glowing upward price arrow and dollar symbols, representing rising semiconductor pricing power. Key Points Recent price hikes reflect a fundamental shift in negotiating power toward the semiconductor designers due to unprecedented AI-driven demand. For Advanced Micro Devices, this pricing strength validates its technological leadership and accelerates strategic growth in the lucrative data center market. Intel's reassertion of pricing power provides essential funding for its ambitious ma ...

Tech Growth Reimagined: Inside Global X's Launch of NYSX Global X just gave investors more optionality with regard to the Invesco QQQ ETF (QQQ). The firm just launched the Global X NYSE 100 ETF (NYSX), designed to track the NYSE 100 Index. This would give investors a concentrated play on the 100 largest and most innovative companies listed across the New York Stock Exchange, NYSE American, NYSE Arca, Nasdaq, and CBOE BZX exchanges. "This launch marks a significant milestone in Global X's evolution ...

Rising central processing unit (CPU) prices are emerging as a near-term catalyst for semiconductor stocks, with Intel (INTC) and Advanced Micro Devices (AMD) both set to benefit from improving pricing dynamics. On March 25, shares of INTC and AMD rose 7.1% and 7.3%, respectively, following a report that the two companies plan to increase prices across their CPU product lines. The move comes amid tightening supply conditions, which are strengthening the industry’s pricing environment and are likely to suppo ...