Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The release of the Rubin CPX inference chip by Nvidia emphasizes cost-effectiveness and is designed specifically for large-scale context AI models, providing 20 PFLOPS of computing power with a memory bandwidth of 2TB/s, significantly reducing memory costs by over 50% by switching from HBM to GDDR7 [5][6] - The introduction of the Rubin CPX chip expands the VR200 server architecture into three versions, which is expected to create new opportunities in the supply chain, particularly increasing demand for PCB and copper cable connectors due to the complexity of interconnections [6][7] Summary by Sections Industry Investment Rating - The report maintains a "Positive" rating for the industry, indicating expectations for the industry to outperform the overall market [2] Nvidia Rubin CPX Chip - The Rubin CPX chip is designed for two critical stages of AI inference: Prefill and Decode, with a focus on maximizing computational throughput while minimizing memory bandwidth waste [5] - The chip features a design that prioritizes computational FLOPS over memory bandwidth, making it suitable for high-demand AI applications [5] Supply Chain Opportunities - The new architecture introduced by the Rubin CPX chip is anticipated to generate additional demand in the supply chain, particularly for PCB and copper cable connectors, as the complexity of interconnections increases [6][7] - Beneficiary companies in the PCB segment include Huadian Co., Shenghong Technology, and others, while copper cable connector beneficiaries include Huafeng Technology and others [7]

Truckloads of money are being spent on AI computing equipment currently.Artificial intelligence (AI) investing is what's keeping the market propped up right now. A significant amount of money is being spent on building AI computing infrastructure, and numerous businesses are benefiting from this spending trend.By picking up shares of companies that are benefiting from the spending now, investors can ensure they're not buying into hype.I've got five stocks that meet this criteria, and each looks like a great ...

Investment Rating - The report maintains a "Positive" investment rating for the industry [6]. Core Viewpoints - The introduction of the Rubin CPX technology presents significant investment opportunities in PCB equipment, driven by increased demand for advanced computing capabilities [14][35]. - The Rubin CPX system is designed to enhance performance for large context processing, achieving up to 7.5 times the performance of the current flagship systems [14]. - The report highlights the expected increase in PCB demand due to the integration of new technologies and materials, which will benefit upstream equipment and consumables [35][36]. Summary by Sections Rubin CPX Technology Overview - Rubin CPX integrates 36 Vera CPUs, 144 Rubin GPUs, and 144 Rubin CPX GPUs, optimized for handling large context windows [14]. - The expected shipment of Rubin CPX is projected by the end of 2026 [14]. Performance and Design Enhancements - The Rubin CPX architecture significantly improves power density and cooling solutions, with a power budget of approximately 370 kW for the VR NVL144 CPX [24]. - The design includes a wireless configuration and enhanced PCB midplane for better signal integrity and reduced cable complexity [29][31]. PCB Demand and Equipment Insights - The report anticipates a rise in PCB demand due to the introduction of CPX chips and the need for upgraded materials to support advanced signal transmission [31][35]. - Key production processes for PCBs include drilling, exposure, plating, and testing, with a focus on leading companies in drilling and exposure equipment [36]. Market Outlook - The global scale of PCB production equipment is expected to grow, with significant opportunities in the drilling and plating segments [36]. - The report suggests monitoring leading companies in the PCB equipment sector for potential investment opportunities [36].

Good morning. Novartis CEO Vas Narasimhan said something to me recently that has stuck in my mind: “If you want an organization that’s able to navigate complexity in the external world,” he said, “you have to radically take out complexity internally.”That’s prompted Narasimhan to focus on taking out layers of leadership, eliminating roles and reducing headcount to create a leaner and simpler organization. “We underestimate the cognitive load on our management and leaders when they have to spend time figurin ...

英伟达方面：英伟达表示计划推出一款旨在处理视频生成和软件开发等复杂任务的新产品，英伟达称， 这款名为Rubin CPX的产品将于2026年底上市，这将进一步刺激科技的炒作热情！ 华为方面：9月18日，华为将在上海举办以"跃升行业智能化"为主题的华为全联接大会！ 明确的告诉大家 市场经过近期的洗盘之后 科技股将再次王者归来 尤其是接下来与甲骨文+英伟达+华为深度合作的公司，更加值得高度重视起来！ 甲骨文方面：近期OpenAI已与甲骨文公司签署一项协议，将在大约五年内向甲骨文购买价值3000亿美 元的算力。甲骨文收盘大涨36%创纪录新高，逼近万亿美元大关！ 第三家、荣联科技 甲骨文：荣联科技是甲骨文中国区核心MSP（管理服务提供商），为中国移动、国家电网等客户提供从 Oracle数据库到华为高斯数据库的迁移服务。 第一家、神州信息 华为：作为华为"银行分布式核心系统"联合解决方案提供商，其自主研发的"智能银行解决方案"已接入 华为昇腾910B算力，交易处理速度较传统方案提升4倍。 甲骨文：作为甲骨文中国区总代理，神州信息推出"登云数据库一体机"，实现甲骨文数据库与华为泰山 服务器的深度适配。 英伟达：基于英伟达H ...

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The new deal exposes one of the biggest risks facing Nvidia right now.Nvidia (NVDA) has been perhaps the single biggest beneficiary of the boom in AI progress over the last three years. The company's market cap now tops $4.3 trillion, making it the most valuable company in the world. That's driven by continued demand for its market-leading graphics processing units (GPUs), which are essential for large language model training and inference.Nvidia's financials show a massive company that's still growing sale ...

| 模仿陷阱 从中国头部科技企业到韩国、日本的 AI 研发机构，在训练 ChatGPT 类大语言模型（LLM）、 DeepSeek 等多模态模型时，几乎清一色采用英伟达 GPU 作为核心算力支撑 ——A100、H100 系列产品凭借其强大的张量核心、高效的 CUDA 生态，成为亚洲 AI 实验室的 "标配"。 上游空心化 英伟达 GPU 的核心技术，包括架构设计、制程工艺、软件生态，均掌握在美国企业手中。以 H100 为例，其采用台积电 4nm 工艺制造，但芯片设计的核心 IP、指令集架构由英伟达主导，配 套的 CUDA 工具链更是形成了难以替代的技术壁垒。亚洲企业虽然在 AI 算法研发、应用场景落地 方面具备优势，但在算力基础设施的核心环节，始终处于 "被动跟随" 状态。 算力成本陷阱 据彭博社报道， 中国半导体行业协会副会长、 IEEE Fellow、清华大学教授 魏少军 在新加坡 召开 的一个行业 论坛上警告称， 依赖美国硬件将对中国及其亚洲伙伴构成长期风险。 呼吁中国与其他 亚洲国家摒弃使用英伟达 GPU 进行 AI 训练与推理。 魏少军批评当前亚洲 AI 发展模式过度效仿美国路径 —— 即采用英伟达 ...

Both chipmakers dominate their respective niches in the AI semiconductor market and are growing at an impressive pace.Nvidia (NVDA) and Broadcom (AVGO -2.69%) have stamped their dominance on the artificial intelligence (AI) semiconductor market. Both chip designers are the dominant players in their respective AI chip niches, and that explains why they have been clocking solid growth.The latest quarterly reports of Nvidia and Broadcom make it clear that the two companies are head and shoulders above their pe ...

Nvidia's stock has what it takes to blast higher.Nvidia (NVDA) has already shown its wealth-building prowess. The world's top chip designer has delivered a 1,000% gain over the past three years thanks to its dominance in the artificial intelligence (AI) market. This leadership has helped Nvidia generate outsize earnings growth, with revenue and profit climbing in the triple digits in recent years.That's because demand is surging for Nvidia's products and services, essential tools in the development and appl ...