从细分领域看，增长最快、规模最大的芯片类别是英伟达、超威半导体（AMD）和英特尔生产的逻辑 芯片。2025年，这类芯片的销售额增长39.9%，达到3019亿美元。排第二的是存储芯片，在人工智能 （AI）浪潮下，存储芯片供应紧张，导致价格大幅上涨，其销售额增长34.8%，达到2231亿美元。 责任编辑：钟离 当地时间周五（2月6日），美国半导体行业协会（Semiconductor Industry Association，SIA）发布报告 称，半导体行业将在今年首次实现1万亿美元的营收规模，全球芯片销售额将在2026年再增长26%。其 数据显示，2025年全球芯片销售额达到7917亿美元，较上一年增长25.6%。SIA首席执行官John Neuffer 表示："当我们这个行业实现增长时，意味着其他行业将获得指数级的收益。" 财经频道更多独家策划、专家专栏，免费查阅>> ...

Core Viewpoint - Jinglin Capital has significantly adjusted its US stock holdings in the fourth quarter, reducing its position in Nvidia while increasing investments in Google, Pinduoduo, and Intel [1][5]. Group 1: Holdings Overview - As of the end of the fourth quarter, Jinglin's total US stock holdings amounted to $4.04 billion, a decrease of 3.37% from the previous quarter [2]. - The top ten holdings include Google, Meta, Pinduoduo, NetEase, Manbang, Futu, Nvidia, Alibaba, Intel, and Yaduo [2]. Group 2: Major Increases in Holdings - The largest increase in holdings was in Google, where the number of shares rose to 2.69 million, reflecting a 52.81% increase, making it the largest position at 20.82% of the portfolio [4]. - Jinglin also initiated a position in Broadcom with 245,800 shares, representing 2.1% of the portfolio, and increased holdings in Pinduoduo, Intel, and Futu [4]. Group 3: Major Reductions in Holdings - The most significant reduction was in Nvidia, where Jinglin sold 1.5409 million shares, a decrease of 64.78%, reducing its portfolio share to 3.86% [5]. - Additionally, Jinglin reduced its stake in Meta by 22,910 shares, resulting in an 18.68% decrease in holdings [5]. Group 4: Investment Strategy Insights - Jinglin's partner and fund manager, Gao Yuncheng, highlighted the importance of companies in emerging sectors like AI, new energy, and smart driving, emphasizing the ongoing transformation across industries [5][6]. - The core holdings are characterized by strong customer loyalty, pricing power, and distinct product differentiation, focusing on companies with stable valuations and cash flows [6].

Core Viewpoint - Intel and AMD have informed Chinese customers about a shortage in server central processing units (CPUs), with Intel warning that delivery times could extend up to six months [1] Group 1: Supply Chain Issues - The supply tightness has led to an average price increase of over 10% for Intel's server products in China, although specific prices vary based on customer contracts [1] - Intel has begun implementing a rationing system for shipments due to the significant backlog of unfulfilled orders, particularly for its fourth and fifth generation Xeon CPUs [1] Group 2: Market Impact - The Chinese market accounts for over 20% of Intel's total global revenue, indicating its critical importance to the company's overall financial health [1] - The delivery cycle for certain CPU models has been extended, with the longest delays reaching six months, reflecting the severity of the supply constraints [1]

Group 1 - The China Academy of Space Technology has successfully transitioned the Land Detection Satellite No. 4 and the Ocean Salinity Detection Satellite into operational status, showcasing advancements in microwave remote sensing technology and enhancing China's observation systems in marine and disaster reduction fields [2] - The world's first 20-megawatt offshore wind turbine has successfully connected to the grid in Fujian, marking a significant milestone in China's offshore wind power capabilities, with a weight reduction of over 20% compared to industry averages and improved wind capture and power generation efficiency [2] - Intel and AMD have informed Chinese customers about CPU supply shortages, with delivery times potentially extending up to six months, leading to a price increase of over 10% for Intel's server products in China due to tight supply conditions [2] - The first domestically produced electric vertical takeoff and landing (eVTOL) aircraft has successfully completed its maiden flight in Chongqing, demonstrating an innovative design that allows seamless transition between land and air travel [2]

Core Insights - Jinglin Asset significantly reduced its holdings in NVIDIA while increasing its position in Alphabet Inc. to become the largest holding in the fourth quarter of 2025 [1][6]. Group 1: Portfolio Overview - Jinglin Asset's total market value for the fourth quarter was $4.04 billion, down from $4.44 billion in the previous quarter, reflecting a decrease of approximately 3.37% [2]. - The fund made one new purchase, added to five existing positions, sold out of three stocks, and reduced holdings in ten stocks, with the top ten holdings accounting for 82.85% of the total market value [2][5]. Group 2: Major Holdings - Alphabet Inc. (GOOGL) is the largest holding with approximately 2.69 million shares valued at about $841.97 million, representing 20.82% of the portfolio, an increase of about 929,680 shares or 52.81% from the previous quarter [2][5]. - Meta Platforms Inc. (META) is the second-largest holding with approximately 996,908 shares valued at about $658.05 million, accounting for 16.27% of the portfolio, a decrease of about 229,056 shares or 18.69% [2][5]. - Pinduoduo (PDD) ranks third with approximately 3.97 million shares valued at about $449.96 million, representing 11.12% of the portfolio, an increase of about 611,306 shares or 18.21% [3][5]. Group 3: Changes in Holdings - Jinglin Asset reduced its holdings in NVIDIA by approximately 1.54 million shares, cutting over 60% of its position, due to market concerns regarding AI industry financing [6][7]. - The fund also reduced its stake in Meta by approximately 229,056 shares, leading to its drop from the top position to second largest [6]. - In contrast, Jinglin increased its holdings in Alphabet by approximately 929,680 shares and in Pinduoduo by approximately 611,306 shares, indicating a strategic shift in technology stock allocation [6][7]. Group 4: Other Notable Adjustments - The fund also reduced its positions in other semiconductor-related stocks such as TSMC and Spotify, while increasing its stake in Intel by approximately 694,363 shares [7][9]. - Notably, Jinglin continued to reduce its holdings in KE Holdings, having sold 1.88 million shares in the fourth quarter, following a significant reduction in the previous quarter [9].

Core Viewpoint - Jinglin Asset significantly reduced its holdings in NVIDIA while increasing its position in Alphabet, making it the largest holding in the fourth quarter of 2025 [1][5]. Group 1: Portfolio Overview - Jinglin Asset's total portfolio value for the fourth quarter was $4.04 billion, down from $4.44 billion in the previous quarter, reflecting a decrease of approximately 3.37% [2][1]. - The fund made one new purchase, added to five existing positions, sold out of three stocks, and reduced holdings in ten stocks, with the top ten holdings accounting for 82.85% of the total portfolio [2][1]. Group 2: Major Holdings - Alphabet Inc. (GOOGL) is the largest holding with approximately 2.69 million shares valued at about $841.97 million, representing 20.82% of the portfolio, an increase of about 929,700 shares from the previous quarter [2][4]. - Meta Platforms Inc. (META) is the second-largest holding with approximately 996,908 shares valued at about $658.05 million, accounting for 16.27% of the portfolio, a decrease of about 229,000 shares [3][4]. - Pinduoduo (PDD) ranks third with approximately 3.97 million shares valued at about $449.96 million, representing 11.12% of the portfolio, an increase of about 611,300 shares [3][4]. Group 3: Changes in Holdings - Jinglin Asset reduced its holdings in NVIDIA by approximately 1.54 million shares, cutting over 60% of its position, due to market concerns regarding AI industry financing [5][1]. - The fund also decreased its position in Meta by about 229,000 shares, leading to its drop from the top position to second [5][1]. - In contrast, Jinglin increased its holdings in Alphabet by approximately 929,700 shares and also added to its positions in Intel and Futu Holdings [5][6].

Group 1 - Vista Equity Partners is leading a new funding round of over $350 million for AI chip startup SambaNova Systems, marking a rare deviation from its traditional focus on enterprise software [2][3] - The funding round includes participation from existing supporter Intel, which plans to invest approximately $100 million, with a potential commitment of up to $150 million [2] - SambaNova is seeking funds to compete with market leader Nvidia and meet the growing demand for inference chips used in AI applications [2][3] Group 2 - Vista's investment in an AI chip startup is a notable shift for a firm that typically invests in enterprise software companies, having previously acquired Citrix Systems and Nexthink [3] - The software sector has faced pressure recently, with a sell-off erasing nearly $1 trillion in market value as investors reassess valuations amid AI's disruptive potential [3] - AI chip manufacturer Cerebras Systems raised $1 billion in a funding round, achieving a valuation of $23 billion, indicating increased interest in AI hardware [3] Group 3 - Discussions for Intel to acquire SambaNova for approximately $1.6 billion had stalled prior to this investment [5] - SambaNova was valued at $5 billion in a funding round led by SoftBank's Vision Fund in 2021, but has faced challenges and layoffs in 2024 [5] - The company has raised over $1 billion from investors since its inception in 2017 and has shifted its focus to AI inference and cloud services [5]

Core Viewpoint - Vista Equity Partners is leading a $350 million funding round in AI chip startup SambaNova Systems, marking a shift from its traditional focus on enterprise software [1][4]. Group 1: Investment Details - Vista, in partnership with Cambium Capital, is participating in the Series E funding round for SambaNova, with Intel Corp also investing approximately $100 million, potentially increasing to $150 million [2][3]. - The funding aims to help SambaNova compete with Nvidia Corp in the growing demand for inference chips used in AI applications [3]. Group 2: Market Context - The investment comes amid a selloff in global software stocks, which have lost nearly $1 trillion in value as AI transitions from a supportive factor to a potential disruptor [5]. - Interest in AI hardware has surged, driven by increased dealmaking among companies seeking efficient chips for AI applications [5]. Group 3: Competitive Landscape - Other AI chipmakers, such as Cerebras Systems, have also raised significant funding, with Cerebras securing $1 billion at a valuation of $23 billion [6]. - OpenAI is exploring partnerships with companies like Groq and Cerebras to find alternatives to Nvidia GPUs for their computing needs [7].

Core Insights - Vista Equity Partners is leading a funding round of over $350 million for SambaNova Systems, an artificial intelligence chip startup, indicating a strategic shift from its traditional investment focus [1] Group 1: Investment Details - The funding round exceeds $350 million, showcasing significant investor confidence in the AI chip sector [1] - This investment marks a notable departure for Vista Equity Partners, which typically focuses on software and technology companies rather than hardware startups [1] Group 2: Company Overview - SambaNova Systems specializes in developing advanced AI chips, positioning itself in a rapidly growing market driven by increasing demand for AI technologies [1] - The investment from Vista Equity Partners may enhance SambaNova's capabilities and market reach, potentially leading to accelerated growth in the AI hardware space [1]

Shares of Intel (NASDAQ: INTC) were rallying on Friday, with shares up 5.5% as of 11:52 a.m. EDT. Intel is up strongly year to date, even though the stock pulled back from recent highs following its Jan. 22 earnings report. However, the stock has been recovering this week and is now approaching its multi-year highs once again. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Today, th ...