人工智能(AI)基础设施领域的投资热潮，不仅引发了专用AI芯片的抢购潮，也让供应链其他环节的供需 矛盾持续加剧，其中存储芯片领域的紧缺最为突出，相关产品价格仍在持续飙升。 知情人士称，两家企业近几周刚向中国客户发出上述供货通知，这也意味着CPU的供应短缺问题进一步 升级，国内AI企业及诸多制造业厂商的生产经营压力或将进一步加大。 订单积压严重 两位知情人士表示，中国市场贡献了英特尔超20%的全球营收，该公司第四、五代至强(Xeon)服务器 CPU目前供应缺口尤为显著，英特尔已对相关产品实施限量供货。 他们补充道，英特尔上述型号CPU的未交付订单积压严重，交货周期已拉长至6个月。 一位知情人士及另一位第三方消息源均透露，AMD也已向合作客户告知供应受限的情况，后者表示， AMD部分服务器CPU产品的交货周期已延长至8至10周。 英特尔今年1月在财报电话会议中已提及CPU供应短缺问题，该公司在一份声明中表示，AI技术的快速 普及，推高了市场对传统计算芯片的需求。 声明还指出，英特尔预计2026年第一季度芯片库存将处于历史低位，但公司正采取积极举措缓解供应压 力，预计从第二季度开始，产品供应情况将逐步改善。 智通财 ...

另有知情人士表示，AMD也已向客户告知供应受限的情况，部分AMD产品的交货期已延长至8至10 周。 英特尔在1月份的财报电话会议中就曾指出CPU供应存在限制，该公司在给路透社的一份声明中表示， 人工智能的快速普及导致对"传统计算"的需求激增。 声明称："我们预计第一季度库存将处于最低水平，但我们正积极采取应对措施，预计从第二季度到 2026年，供应情况将逐步改善。" AMD则重申了其在财报电话会议中的表态，称已提升供应能力以应对强劲的市场需求。该公司在给路 透社的声明中表示："基于我们与台积电等合作伙伴建立的强有力供应商协议和供应链，我们对在全球 范围内满足客户需求充满信心。" 据路透社2月6日报道，知情人士透露，英特尔和AMD已通知中国客户，其服务器用中央处理器 （CPU）出现供应短缺问题。英特尔还警告称，未来交货期最长可能达到六个月。 一位知情人士表示，供货紧张已导致英特尔服务器产品在中国市场的价格普遍上涨逾10%，不过具体价 格因客户合同条款可能会有些区别。 报道称，对AI基础设施越来越庞大的投入不仅引发了对AI专用芯片的抢购热潮，也带动了供应链其他 环节的需求激增——其中内存芯片的短缺最为突出，其价格 ...

近日，上海浦发银行披露两则采购项目结果公示，分别为鲲鹏芯片服务器、海光四号芯片服务器采购项目，其中 恒驰信息以1.58亿元中标、神州新桥以2.15亿元中标。 根据浦发银行2月4日发布的《2025年金融云信创基础设施系统常规扩容项目等两项目第二批鲲鹏芯片服务器采购 项目》结果公示，上海恒驰信息系统有限公司以1.58亿元中标。 同一天，浦发银行《2025年金融云信创基础设施常规扩容等二项目之海光四号芯片服务器采购项目》结果公示， 北京神州新桥科技有限公司以2.15亿元中标。 官网显示，恒驰信息是华为核心代理商、华为优选CSP服务伙伴、华为云核心解决方案提供商和CTSP能力伙伴， 该公司聚焦ICT集成、云业务、信息安全三大核心业务。 海光四号（海光7400系列）发布于2023年10月，首次采用自研CPU微架构，是海光信息推出的第四代国产高端x86 服务器处理器，采用自主研发的新一代CPU微架构，支持64核128线程（如7490型号）。它兼容X86指令集，支持 国密算法，主打高性能计算与数据中心市场，广泛应用于服务器、工作站等。 神州新桥成立于2001年，是东华软件的全资子公司，为国内金融行业IT技术服务提供商。 目 ...

Core Viewpoint - The article highlights a significant shortage in CPU supply, particularly affecting the server market, driven by the rapid growth of artificial intelligence and traditional computing demands. Intel and AMD have both warned of supply constraints, leading to increased prices and extended delivery times for their products [2][3][5]. Group 1: CPU Supply Shortage - Intel has indicated that CPU supply is tight, with inventory expected to reach its lowest levels in the first quarter, but improvements are anticipated from the second quarter through 2026 [2]. - The shortage has led to a price increase of over 10% for Intel's server products in China, with delivery times potentially extending up to six months [3][5]. - AMD has also communicated supply limitations to its customers, with some products experiencing delivery delays of 8 to 10 weeks [7]. Group 2: Market Dynamics - In 2024, global server shipments are projected to be around 16 million units, with China accounting for over 25% of this total [3]. - Intel's market share has decreased from over 90% in 2019 to approximately 60% by 2025, while AMD's share has increased from about 5% to over 20% [7]. - Major clients for both companies in China include large server manufacturers and cloud service providers such as Alibaba and Tencent [8]. Group 3: Causes of Shortage - The CPU shortage is attributed to multiple factors, including Intel's manufacturing yield challenges and AMD's reliance on TSMC, which is prioritizing AI chip production [9]. - The shortage of storage chips, a critical component for servers, has exacerbated the CPU supply issues, as customers accelerated CPU purchases to lock in lower memory prices [9]. - The surge in demand for advanced AI systems, which require significantly more CPU processing power than traditional workloads, has further intensified the supply constraints [9].

Core Viewpoint - Despite AMD's light Q1 guidance, the underlying investment premise remains unchanged, with substantial revenue and earnings growth reported in Q4 2025 [1] Group 1: Q1 Guidance and Revenue Projections - AMD projected Q1 revenue to increase by 32% year over year to approximately $9.8 billion, reflecting a sequential decline of about 5% due to seasonality in client, gaming, and embedded segments [3] - Concerns regarding lighter guidance for Q1 are viewed as overblown, with overall data center growth expected to exceed 60% annually over the next three to five years, including in 2026 [5] Group 2: Data Center Business - The data center business is at an inflection point, with significant revenue growth anticipated despite lower sales in China due to U.S. trade policies [4] - Revenue for the MI450 GPU is expected to ramp up significantly later in the year, and supply constraints are not expected to hinder data center growth [4] Group 3: CPU Business Performance - AMD's client segment revenue surged 34% year over year in Q4 to a record $3.1 billion, with record server CPU sales reported [7] - Demand for AMD's Turin CPUs is high, driven by increased AI infrastructure spending among major hyperscalers like Amazon, Google, and Microsoft [8] Group 4: Valuation Insights - Following the recent stock plunge, AMD's shares trade at 38 times forward earnings, indicating a valuation reset that enhances attractiveness despite not being classified as a value stock [10] - The stock's price-to-earnings-to-growth (PEG) ratio of 0.52 highlights favorable growth prospects based on Wall Street's five-year earnings growth projections [10]

Core Viewpoint - Intel and AMD have notified Chinese customers about a shortage of server CPUs, with Intel warning that delivery times could extend up to six months [1][2]. Group 1: Supply Shortage - Intel's server CPU prices in China have increased by over 10% due to supply constraints, with specific prices varying based on customer contracts [1]. - AMD has also informed customers about supply limitations, with some product delivery times extended to 8 to 10 weeks [2]. - The shortage of CPUs is exacerbated by a significant backlog of unfulfilled orders for Intel's fourth and fifth generation Xeon CPUs, leading to a rationing system for shipments [1]. Group 2: Market Dynamics - The rapid growth in AI infrastructure investment has led to increased demand for AI-specific chips, impacting the supply chain and causing severe shortages in memory chips, which in turn drives up prices [1]. - Intel's market share has decreased from over 90% in 2019 to approximately 60% by 2025, while AMD's share has increased from about 5% to over 20% [3]. Group 3: Company Responses - Intel expects inventory levels to be at their lowest in the first quarter but is taking measures to improve supply conditions, anticipating gradual improvement from the second quarter through the end of 2026 [3]. - AMD has expressed confidence in its ability to meet global customer demand due to robust supplier agreements and its supply chain system, including partnerships with TSMC [3]. Group 4: Causes of Shortage - The CPU shortage is attributed to multiple factors, including Intel's ongoing manufacturing yield challenges and AMD's reliance on TSMC, which prioritizes AI chip production, limiting CPU capacity [4]. - The shortage of memory chips, a critical component for servers, has also intensified the CPU supply issues, as customers accelerated CPU purchases to secure lower memory prices [4].

据知情人士称，英特尔和AMD已向中国客户通报了服务器中央处理器（CPU）的供应短缺情况，英特 尔警告称交付周期最长可达六个月。 其中一位知情人士称，供应紧张的情况导致英特尔的服务器产品在中国的售价普遍上涨了 10% 以上， 不过具体价格会因客户合同而有所不同。 对AI基础设施的投资持续增长，引发了对AI专用芯片以及供应链其他环节产品的大规模需求热潮，其 中最为突出的是存储芯片领域，其价格持续飙升。 据消息人士称，这些针对中国客户的通知是在最近几周发出的，表明CPU 缺货问题愈发严重了。这可 能会给人工智能公司以及众多其他制造商带来更大的挑战。 此外，内存芯片（也是服务器的关键组件）的短缺也加剧了供应短缺。据第三位消息人士（一家同时销 售服务器CPU和内存产品的分销商）称，去年底中国内存价格开始上涨时，客户加快了CPU的采购速 度，以锁定更低的内存价格。 对智能体AI系统（能够执行复杂的多步骤操作，而不仅仅是简单的聊天机器人功能）的激增需求进一 步加剧了供应紧张。这些高级应用需要比传统工作负载高得多的CPU处理能力。 据两位知情人士透露，在中国市场（占英特尔总收入的20%以上），英特尔第四代和第五代至强处理器 ...

BEIJING, Feb 6 (Reuters) - Intel (INTC) and AMD (AMD) have notified Chinese customers of supply shortages for server central processing units (CPUs), with Intel warning of delivery lead times of up to six months, people with knowledge of the delays said. The supply ​constraints have driven up prices for Intel's server products in China by more than 10% generally, although pricing varies by ‌customer contract, according to one of the people. Booming investment in artificial intelligence infrastructure has ...

Core Insights - Intel and AMD have informed Chinese customers about supply shortages for server CPUs, indicating a significant impact on the market [1] - Intel has specifically warned of delivery lead times extending up to six months, highlighting the severity of the supply chain issues [1] Company Impact - Both Intel and AMD are facing challenges in meeting demand for server CPUs, which could affect their market positions and revenue [1] - The extended lead times from Intel may lead to potential delays in product launches and customer projects for Chinese clients [1] Industry Implications - The supply shortages in server CPUs may signal broader supply chain issues within the semiconductor industry, affecting various sectors reliant on these components [1] - The situation could lead to increased prices for server CPUs as demand outstrips supply, impacting overall market dynamics [1]

SocGen lifts profit target as retail bank offsets trading drop | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The logo of French bank Societe Generale is seen outside a bank building in Paris, France, April 25, 2025. REUTERS/Stephanie Lecocq/File Photo [Purchase Licensing Rights, opens new tab]- Companies- Summary- Plans new 1.46 bln-euro share buyback, dividend increase- CEO Krupa's four-year mandate renewed from 2027- Cost cuts, ...