Core Viewpoint - The future of human scientific progress and technological innovation will largely revolve around AI, fundamentally transforming work, life, production, learning, and art, with chips serving as the essential AI engine [6][10]. Group 1: AI and Chip Technology - AMD is positioned as a leader in high-performance and AI computing, addressing significant global challenges with a diverse product portfolio in data centers and workstations [6]. - The CEO of AMD, Dr. Su Zifeng, views AI as the most important technological transformation in the last 50 years, even surpassing the internet [6]. - AI Agents are expected to transition from mere chatbots to genuine productivity tools, marking a critical shift in AI's integration across various industries [6][7]. Group 2: Market Trends and Projections - By 2025, 40% of U.S. enterprises and 27% of Chinese enterprises are projected to utilize AI Agents, with 40% of new jobs by 2026 requiring collaboration with AI [7]. - The usage and demand for intelligent agents among the world's top 2000 companies are expected to increase tenfold by 2027, with a thousandfold increase in workload [7]. Group 3: AI Interaction Interfaces - In the next 3 to 5 years, the primary interfaces for human-AI interaction will be AI smartphones and AI PCs, with smartphones focusing on learning and entertainment, while PCs will cater to work and content creation [8]. - To effectively run AI Agents, devices must deploy high-precision base models and integrate industry-specific knowledge, requiring 60GB to 100GB of memory [8]. Group 4: Product Innovations and Applications - AMD's Ryzen AI Max+ 395 processor integrates the capability to run large AI models locally, featuring GPU performance comparable to RTX 4060 to 4070, enabling deployment of models like GPT-4 [8][9]. - AMD aims to reduce the cost of AI devices to one-tenth of previous prices, facilitating the adoption of AI in educational settings and various industries [9]. - The company has also contributed to the digital restoration of historical artifacts, such as the murals in Yongle Palace, utilizing AI to recreate ancient colors [9]. Group 5: National Initiatives and Educational Programs - The Chinese government has launched the "Artificial Intelligence +" initiative, encouraging various industries to leverage AI, similar to the "Internet +" movement two decades ago [10]. - AMD has initiated the "Spring Rain Plan" aimed at cultivating AI talent in universities and fostering an open-source AI software ecosystem [10].

2025年12月20日下午，在首届香港国际AI艺术节期间，"破界融新，投启未来"2025机器人产业和AI投资论坛成功 举办。 论坛上， 优必选首席品牌官谭旻、AMD大中华区销售副总裁晁亚新、迅兔科技创始人兼CEO李罗丹、上海灵境智 源CEO孙博、天数智芯边端产品事业部副总经理宋远盈，以及开源证券机械首席分析师孟鹏飞 围绕" 生态共建 在 传统与创新中融合" 主题，共同探讨 AI的颠覆性 影响 与机器人技术发展 前景 。 【导读】聚首香江！机器人与AI产业大咖共探未来发展新方向 中国基金报记者 王思文 01 人形是通用人工智能的必要载体吗？ 孟鹏飞： 中国已成为全球工业机器人和服务机器人第一大国 。 2022年，马斯克Optimus第一代的推出，让我们看 到人形机器人这一划时代产品的潜力。 人形机器人 不仅是AI闭环的关键，更能推动人类文明 和技术向前发展 。 2026年是人形机器人即将量产的重要节点 。 请问各位，当前人形机器人处于 技术和产业发展的哪个 阶段？ 机器人是否 必须通过人形 来 实现通用人工智能？ 谭旻： 人形并非唯一形态，但却是具身智能的最佳形态。通用人工智能需要通用的数据基座，非人形机器人难 ...

Core Insights - The evolution of integrated circuits (IC) and system-on-chip (SoC) technologies is leading to a diverse combination of processing elements that optimize current workloads while preparing for future demands [2] - Programmable components like FPGAs and DSPs are becoming essential as they allow for hardware upgrades without the need for expensive new devices, addressing the rapid pace of technological advancements [2][3] - The integration of AI into DSPs is enhancing their adaptability and performance, particularly in handling the increasing complexity of analog signals in modern SoCs [6][7] Group 1: Programmable and Reconfigurable Technologies - The shift from simple choices between ASIC, FPGA, and DSP to a combination of various processor types reflects the need for flexibility in design [2] - FPGAs offer high programmability, allowing complete design changes, while other components provide limited configurability [5] - The emergence of CGRA technology offers a balance between FPGA and GPU capabilities, providing flexibility and efficiency for specific tasks [4] Group 2: AI and DSP Integration - AI is playing a crucial role in addressing the challenges posed by increasing analog content in SoCs, enabling dynamic calibration and optimization of DSPs [6][7] - DSPs are evolving to handle not just numerical computations but also analog signal processing, which increases their complexity and parallelism [6] - The integration of AI engines within FPGAs allows for synchronized execution of DSP tasks, enhancing overall system performance [9][12] Group 3: Chiplets and eFPGA Solutions - Chiplets provide a flexible solution for rapidly changing application scenarios, allowing for easy upgrades without redesigning the entire SoC [13] - Embedded FPGAs (eFPGAs) offer reconfigurability but may increase area costs, necessitating careful design considerations [14] - The market is experiencing volatility, prompting companies to accelerate chip development cycles to adapt to evolving requirements [15] Group 4: Future Trends and Software-Defined Products - The trend towards software-defined and AI-driven products necessitates hardware that can support software changes, highlighting the importance of programmability in semiconductor design [16] - Companies are increasingly investing in compiler technologies to ensure that software development aligns with hardware capabilities, facilitating rapid updates and feature enhancements [16]

英伟达可能获得约70亿至125亿美元的额外收入，对应2026年非GAAP每股收益或提升约0.15至0.30美元。"利奥波德重申对英伟达 的"强力买入"评级，对AMD的"跑赢大盘"评级。 若顺利获得政府批准，英伟达计划于明年2月中旬起向中国市场交付其H200系列GPU。 据三位知情人士透露，这批GPU有望在农历新年前完成首批出货。其中两位消息人士表示，首批订单将主要依托现有库存，出货规模预 计为5000—10000块模组，对应约40000—80000颗H200芯片。 投资机构Raymond James公司认为，英伟达(NVDA.US)和AMD(AMD.US)可能从中国市场获得温和的增长潜力。 分析师西蒙·利奥波德在致客户报告中写道："目前仍存在多个不确定因素，难以精确评估最终结果，但在机会性情景下，我们预计AMD 可能获得约5亿至8亿美元的额外收入，非GAAP每股收益或提升约0.10至0.20美元; 知情人士指出，在取得政府审批后，英伟达将进一步扩充产能，相关产能订单将于2026年第二季度开始接受。 周一有报道称，阿里巴巴(BABA.US)正考虑采购4万至5万个AMD的MI308 AI加速器。利奥波德指出，阿里 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 12 月 12 日，AMD 更新了其技术文档，并发布了" AMD Family 1Ah Model 50h-57h 处理器的性能 监视器计数器"， InstLatX64首先注意到了这一点。 首先，确定性能监视器计数器的位置。 每个线程有 6 个性能事件计数器，每个 L3 复合体有 6 个性能事件计数器，每个数据结构有 16 个性 能事件计数器。 顺便一提，AMD μProf 性能分析器是" AMD μProf 开发工具" 的组件之一，并且可以免费使用。撰 写本文时，最新版本为 5.2 版，于 12 月 11 日发布，而上述文档于次日发布，这意味着 Zen 6 架构 的支持预计将在下一个 μProf 版本（5.3 版？）中实现。 性 能 监 视 器 计 数 器 并 非 Zen 6 的 新 功 能 ， 它 已 经 推 出 一 段 时 间 了 。 EPYC 9005 系 列 （ 或 Zen 5 EPYC）的相关说明请参见本文档。 到目前为止一切正常，但有一家网站开始声称，关于 Zen 6 兼容性能监视器计数器的文档，Zen 6 并 非 Zen 5 的扩展，而是一种面向 ...

Group 1 - Raymond James believes Nvidia (NVDA.US) and AMD (AMD.US) may experience moderate growth potential from the Chinese market, with AMD potentially gaining an additional revenue of $500 to $800 million and Nvidia $7 billion to $12.5 billion [1] - Nvidia's non-GAAP earnings per share could increase by approximately $0.15 to $0.30 by 2026, while AMD's could rise by about $0.10 to $0.20 [1] - Nvidia plans to start delivering its H200 series GPUs to the Chinese market in mid-February next year, pending government approval, with initial shipments expected to be between 5,000 to 10,000 modules [1] Group 2 - Alibaba (BABA.US) is considering purchasing 40,000 to 50,000 AMD MI308AI accelerators, which could generate $675 million in sales, although this revenue will be realized over multiple quarters [2] - Despite recent challenges for AI concept stocks, analysts from major Wall Street firms remain optimistic about chip stocks, particularly Nvidia, which is expected to maintain strong growth momentum into next year [2] - Analysts from firms like Bank of America and Jefferies continue to recommend Nvidia and Broadcom among their favored chip stocks [2]

Market Performance - The US stock market closed higher, with the S&P 500 index reaching a new high. The Dow Jones increased by 0.16%, the S&P 500 rose by 0.46%, and the Nasdaq gained 0.57% [1] - Major tech stocks performed well, with Nvidia up 3.01%, Broadcom up 2.30%, Amazon up 1.62%, and Google A shares up 1.48% [1] Commodity Prices - Spot silver continued its strong performance, reaching a new historical high, increasing by 3% to $71.06 per ounce, with a year-to-date increase of 145% [2] - Spot gold rose by 0.8%, reaching $4478.52 per ounce, hitting a record high during the trading session [3] - International oil prices slightly increased, with New York crude oil futures closing at $58.38 per barrel [4] Regulatory Developments - The National Development and Reform Commission, Ministry of Education, and Ministry of Finance in China issued a notice to improve kindergarten fee policies, emphasizing the need for financial transparency and regulation of fees [4] - A new regulation on food safety in live-streaming e-commerce is set to be published, outlining responsibilities for platform operators and marketing personnel [5][6] Corporate News - Sunac China announced that approximately $9.6 billion of its existing offshore debt has been fully released and exempted [6] - Haibo Technology plans to invest 2 billion yuan to build a smart green energy storage factory [6] - Bethel plans to issue H-shares and list on the Hong Kong Stock Exchange [6] - Ningbo Port intends to acquire 100% equity of Zhoushan Port Comprehensive Bonded Zone for 706 million yuan [6]

Over the next decade, you'll surely want to own at least one artificial intelligence (AI) chip stock. ...

Although data center infrastructure was the dominant topic regarding AI in 2025, I think 6G infrastructure and its expansion in 2026 and beyond could become the dominant trend. Edge AI is also likely to becomeMy primary area of concentration will be on identifying companies of exceptional caliber, with a proven ability to reinvest capital for impressive returns. The ideal scenario is for these companies to demonstrate a long-term capability of capital compounding, with a high enough compound annual growth r ...

Alibaba, the Chinese online retail and cloud computing giant, has emerged as one of China's AI leaders this year, ...