Zhong Guo Neng Yuan Wang·2025-08-15 01:52Group 1 - The accumulation of sentiment around domestic computing power has been significantly influenced by market speculation regarding the successful shipment of the H20 chip since late July [1][2] - The National Internet Information Office's discussions with NVIDIA regarding security risks associated with the H20 chip's vulnerabilities, along with a commentary from People's Daily questioning trust in NVIDIA, indicate a cautious and vigilant stance from Chinese authorities [2][3] Group 2 - Recent U.S. policy developments, including the approval of export licenses for NVIDIA's H20 chip to China, highlight ongoing geopolitical tensions and the potential limitations imposed by the U.S. government on the chip's competitive edge in China [3][4] - The H20 chip's performance and energy efficiency are significantly inferior to the standard H100 model, with only about 20% of the overall computing power and an energy efficiency of 0.37 TFLOPS/W, which does not align with China's green development goals [3][4] - The restrictions on the H20 chip create opportunities for domestic computing power solutions, as the limitations on H20's market presence may enhance the competitiveness of local alternatives [4]