如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容 编译自 eenewseurope 。 四十年前，一种可以在工程师的办公桌上进行逻辑编程的革命性设备问世了。 Xilinx 开发的现场可编程门阵列 (FPGA) 使工程师能够将包含自定义逻辑的比特流下载到桌面编 程器中立即运行，而无需等待数周才能从晶圆厂返回芯片。而且，如果出现错误或问题，也可以立 即对设备进行重新编程。 AMD（该公司于2022年收购了赛灵思）产品、软件和解决方案副总裁柯克·萨班（Kirk Saban）告 诉eeNews Europe："我从1999年开始从事FPGA编程，至今已涉足FPGA领域27年。它可能是鲜 为 人 知 的 半 导 体 类 型 之 一 。 人 们 知 道 什 么 是 CPU ， 随 着 人 工 智 能 的 发 展 ， 人 们 也 知 道 什 么 是 GPU，但对FPGA的了解却较少。" 第一颗芯片 XC2064 于 1985 年 6 月问世，但这当然是经过了多年的研发，以及当年早些时候的 设计和流片。它拥有 600 个门电路和 64 个可配置逻辑块，运行频率为 70MHz。但这是一个巨大 的进步，让这款芯片载入了半导体 ...

Group 1 - The article discusses the geopolitical landscape between China and the U.S., indicating that it is not a simple stalemate, despite market fears [1] - Oliver Rodzianko is the Founder and CEO of Invictus Origin, an investment management firm launched in May 2025, focusing on high-alpha strategies [1] - Invictus Origin's flagship portfolio, the Nasdaq High-Alpha Black Swan Portfolio, aims to outperform the Nasdaq-100 while maintaining approximately 20% in cash reserves for downside protection [1] Group 2 - Oliver Rodzianko has extensive experience as a macro-focused investment analyst, specializing in sectors such as technology, semiconductors, artificial intelligence, and energy [1] - The investment process at Invictus Origin integrates U.S. market specialization with a comprehensive understanding of international markets [1] - The firm aims to deliver durable outperformance by navigating market dislocations and intrinsic value cycles [1]

Core Viewpoint - Outlook Therapeutics has launched LYTENAVA™ (bevacizumab gamma) for the treatment of wet age-related macular degeneration (wet AMD) in Germany and the UK, marking a significant milestone as it is the first and only authorized ophthalmic formulation of bevacizumab for this condition in the European Union and UK [1][5][9] Company Overview - Outlook Therapeutics is a biopharmaceutical company focused on developing and commercializing ONS-5010/LYTENAVA™ to enhance the standard of care for retinal diseases [8] - The company has received centralized Marketing Authorization from the European Commission and the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK for LYTENAVA™ [5][8] Product Launch and Market Strategy - The commercial launch of LYTENAVA™ in Germany and the UK is supported by a strategic collaboration with Cencora to facilitate market access and distribution [4] - The company aims to ensure success in these markets and is preparing for additional launches across Europe later in 2025 and throughout 2026 [2] Market Context - Off-label repackaged bevacizumab is widely used in Europe and the US, with approximately 2.8 million injections annually in Europe and 2.7 million in the US for retinal diseases [3] - LYTENAVA™ has the potential to mitigate risks associated with the current off-label use of repackaged bevacizumab [3] Regulatory Status - In the United States, ONS-5010/LYTENAVA™ is currently investigational, and a Biologics License Application (BLA) has been resubmitted to the FDA [6][8] - In certain EU member states, ONS-5010/LYTENAVA™ must receive pricing and reimbursement approval before it can be sold [6]

台积电美国新厂订单塞爆，包含苹果、AMD、高通、博通及英伟达等五大客户订单今年可望全数到 位，其中，苹果抢头香，仍是最大客户，英伟达AI芯片产品今年底也将迈入「美国制造」阶段， AMD、高通、博通则接力下单，挹注台积电营运动能强劲。 业界分析，特朗普政府支持在地制造发展，随着地缘政治议题持续驱动台积电客户异地备援需求，让台 积电美国新厂可望加速达到经济规模，带动台积电营收进入下一个翻倍成长阶段。 业界分析，台积电美国新厂捷报频传，当地厂区良率已可比美中国台湾厂，除了台积电美国客户群询问 下单意愿节节攀升，让美国新厂第三厂提早动土，后续已确定再扩充的三个厂产能也陆续被客户群包 下，成为美系客户异地备援生产一大助力。 英伟达则高喊要落实「美国制造」，并高度仰赖台积电美国新厂。英伟达规划，会紧密与台积电美国投 资合作，为英伟达生产芯片，目前英伟达AI芯片已于台积电美国新厂进行制程验证，预计今年底实现 量产。 AMD、博通、高通也是台积电美国厂区重要客户。AMD执行长苏姿丰日前已预告，AMD作为台积电 2nm和亚利桑那州晶圆21厂主要高速运算（HPC）客户，双方密切合作，推动未来运算创新与先进技 术。 另一方面，台积 ...

Group 1: AI Market Overview - Artificial intelligence (AI) is projected to have a $20 trillion impact on the global economy by 2030 [1] - There is a significant influx of investment into data centers to support an AI-driven economy [3] Group 2: CoreWeave - CoreWeave is a leading operator of purpose-built data centers for AI, capitalizing on the demand for modern infrastructure [3] - The company reported a revenue increase from $189 million in Q1 2024 to $982 million in Q1 2025 [4] - CoreWeave has a revenue backlog of $25.9 billion, a 63% increase year-over-year, largely due to an $11.9 billion deal with OpenAI [5][6] - The company generates most of its revenue from long-term contracts, which enhances visibility for future revenue [6] - CoreWeave has secured 420 megawatts of power for its 33 AI-optimized data centers and has contracts for up to 1.6 gigawatts over several years [8] - The stock has a market cap of $53 billion, with a forward price-to-sales ratio of 11 based on 2025 revenue outlook [9] Group 3: Advanced Micro Devices (AMD) - AMD is positioned as a competitor in the AI chip market, which is valued at $500 billion, despite Nvidia's dominance [10] - The company has seen a 36% year-over-year revenue increase, driven by strong demand in data centers and Ryzen processors [12] - AMD's adjusted earnings increased by 55% year-over-year, indicating robust growth potential despite mixed results in other segments [12] - The launch of over 30 computing workloads using AMD's fifth-generation EPYC Turin chip across major cloud providers highlights its market presence [13] - AMD's acquisition of ZT Systems aims to enhance its competitive position by offering integrated AI computing systems [14] - The stock is trading at 28 times 2025 earnings estimates, suggesting it may be undervalued given its growth prospects [15]

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自Source：编译自techovedas 。 我们知道，集成电路 (IC) 封装是半导体制造过程中的关键步骤，需要将半导体芯片（实际的集成 电路）封装在具有保护性且通常具有功能性的封装中。这种封装具有多种用途，包括提供环境防 护、散热、电气连接，有时还具有信号调理或功率传输等附加功能。 半导体制造流程中，IC 封装通常发生在实际半导体器件制造之后。该过程包括取出裸露的半导体 芯片（通常是包含集成电路的一小块易碎的硅片），并将其放入提供必要支撑和连接的封装中。 想象一下，你刚刚烤出一个美味而精致的蛋糕（相当于半导体器件）。蛋糕代表着集成电路，它是 厨房里细致而精准工作的成果（类似于半导体制造）。 然而，你的蛋糕仍然容易受到天气影响，而且你需要把它运送到城里另一边的派对。你肯定不希望 它受损，所以需要妥善封装。你可以把它放在一个结实的蛋糕盒里（类似于IC封装），这样不仅 可以保护蛋糕脆弱的结构，还能方便地携带。 在这两种情况下，封装都能保护精密的核心部件（芯片或半导体），并方便外部连接（传输或电路 板连接）。半导体封装通常还具有散热功能，以保持集成电路的性能 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自source：编译自theregister 。 AMD 本周宣布收购光子芯片初创公司Enosemi，正式加入共封装光学竞赛。 House of Zen 旨在将该技术融入其下一代机架式系统，以便在人工智能领域更好地与竞争对手 Nvidia 竞争。 与铜互连或走线相比，共封装光学器件具有许多优势，包括更高的带宽、更低的延迟和更低的功 耗。 顾名思义，这些改进通常是通过将光子芯片或中介层与计算芯片一起封装来实现的，通过光纤而不 是铜线传输信号。 在人工智能蓬勃发展的背景下，人们对这项技术的兴趣激增，因为芯片设计师和系统制造商一直在 努力解决传统铜缆的有限覆盖范围和带宽以及高性能可插拔光学器件不断增长的功率需求。 AMD 在共封装光学器件领域稍晚了一步。英特尔和博通多年来一直在探索这项技术，而在今年春 季的 GTC 大会上，Nvidia发布了两款将在今年晚些时候开始采用该技术的网络交换机。 照亮未来之路 AMD 可能计划在未来的机架级设计中使用 Enosemi 的 IP。然而，我们尚不清楚该光子技术将如 何以及在何处集成。 但AMD的高管此前曾讨论过将光子芯片集 ...

Core Viewpoint - Advanced Micro Devices (AMD) has experienced a 9% decline in stock value since January 2025, but the long-term prospects, particularly in the AI chip market, present significant investment opportunities [1][10]. Company Performance - AMD reported sales of $7.4 billion for the quarter ending March 29, marking a 36% increase year-over-year, which is an acceleration from the previous quarter's 24% growth [5]. - The launch of new Instinct MI325X chips has shown positive performance, positioning AMD as a viable alternative to Nvidia's offerings [6]. Market Potential - The AI chip market is projected to reach $383.7 billion by 2032, with a compound annual growth rate (CAGR) of 38.2% from 2023 [4]. - AMD's collaboration with Saudi Arabia-based Humain, valued at $10 billion, aims to develop a robust AI infrastructure, indicating strong growth potential in the AI sector [4]. Investment Outlook - A $25,000 investment in AMD could potentially grow to $1 million, requiring an average annual return of 20.25% over 20 years, or 11.12% over 35 years [7][8]. - The company is seen as a potential leader in the AI chip market, but it must demonstrate that its products can effectively compete with Nvidia to capture significant market share [10]. Valuation and Future Prospects - AMD's current valuation is high, trading at over 80 times its trailing earnings, but is projected to trade at a multiple of 27 times next year's profits as operations scale [11]. - The overall sentiment suggests that while AMD's stock may not guarantee a 40x return, it is still considered a strong long-term investment opportunity [12].

Core Viewpoint - Advanced Micro Devices (AMD) is positioned as a strong growth stock, benefiting from the AI revolution and increasing demand for semiconductors, particularly in its data center and client segments [2][10]. Company Overview - AMD has transformed under CEO Lisa Su since 2014, focusing on CPUs and GPUs, and is now structured into four chip-related enterprises [4]. - The data center business is the largest segment, contributing 50% of revenue in Q1 2025, with a 57% year-over-year growth rate [5]. - The client segment accounts for approximately 30% of revenue, with a 68% annual increase in Q1 due to the popularity of Zen 5 Ryzen processors [6]. - The embedded segment generates about 11% of revenue, while the gaming segment contributes 9%, with the latter facing challenges due to market conditions [7][8]. Financial Performance - AMD's total revenue for Q1 2025 reached $7.4 billion, reflecting a 36% year-over-year growth, a significant improvement from just 2% growth in Q1 2024 [10]. - The company reported a net income of $709 million for Q1 2025, a substantial increase from $123 million in the same quarter the previous year [10]. - Forecasts for Q2 revenue range between $7.1 billion and $7.7 billion, indicating a potential 27% year-over-year growth at the midpoint [11]. Valuation and Investment Potential - AMD's stock is currently down approximately 50% from its all-time high in early 2024 but has rebounded by 50% since hitting a low in early April [11]. - The stock's P/E ratio stands at 85, but the forward P/E ratio is more attractive at 29, suggesting potential value for investors [12]. - The combination of a 50% discount from its peak and a low forward P/E ratio positions AMD as an appealing investment opportunity [13]. Market Conditions - The data center and client segments are experiencing strong growth, while the embedded segment shows signs of recovery, and the gaming segment may be stabilizing after previous declines [14]. - Overall revenue growth is accelerating, indicating a positive trend for AMD's financial health and investment attractiveness [15].

Group 1: Tepper's Investment Activity - David Tepper's Appaloosa Management oversaw approximately $8.4 billion in assets as of the end of March, with notable net-selling activity in AI stocks during the first quarter [5][6] - Tepper sold significant amounts of shares in five prominent AI stocks, including Nvidia, Microsoft, AMD, Intel, and Lam Research, indicating a strategic shift in his investment approach [7][14] - The selling activity may reflect more than just profit-taking, as it could signal concerns about the sustainability of the AI market and potential economic pressures [8][9] Group 2: Market Dynamics and AI Stocks - Demand for AI GPUs and solutions has been strong, with Nvidia holding a significant market share in AI-accelerated data centers, but increased competition from AMD and internal chip development by customers may reduce Nvidia's pricing power [11][13][15] - The historical context of technology trends suggests that new innovations often experience bubble-bursting events, which could impact the current AI market and the stocks associated with it [16][17] - Despite strong sales growth for AI hardware, many businesses are still struggling to optimize AI solutions for profitability, indicating that the technology has not yet matured [18][19] Group 3: Implications for Major Companies - If an AI bubble were to burst, Nvidia could face significant challenges, as over 90% of its net sales come from its data center segment [19] - Microsoft, while somewhat insulated due to its software sales, could also experience slowed growth in its cloud infrastructure service platform Azure, which incorporates generative AI solutions [20]