3 6 Ke·2025-08-22 11:00Core Viewpoint - The domestic computing power sector experienced a significant surge on August 22, with the Wande GPU Index rising by 9.87%, driven by news of Nvidia's H20 chip production halt, leading to a combined market capitalization of over 1 trillion yuan for several listed companies in this sector [1][2][12]. Group 1: Market Performance - The Wande GPU Index increased by 9.87% on August 22, with notable gains from companies like Cambricon, which rose by 20% and surpassed a market cap of 500 billion yuan, and Haiguang Information, which also saw a 20% increase, likely pushing its market cap above 500 billion yuan when considering its merger with Zhongke Shuguang [1]. - The combined market capitalization of listed companies involved in GPU-related businesses, including Cambricon, Haiguang Information, Jingjia Micro, and Chipone, officially exceeded 1 trillion yuan on August 22 [1]. Group 2: Nvidia H20 Chip Production Halt - Nvidia's decision to halt production of the H20 chip, which was designed to comply with U.S. export controls for the Chinese market, was catalyzed by supply chain management considerations and market conditions [2][6][7]. - The H20 chip, a lower-performance version of the H100, has been under scrutiny due to ongoing U.S. government restrictions and concerns over its security, leading to a significant decline in its perceived value [3][4][8]. - The halt in production is seen as a response to the declining feedback from domestic customers regarding the H20's safety and cost-effectiveness, further accelerated by the rapid development of domestic AI chips [9][10]. Group 3: Domestic AI Chip Development - The domestic AI chip sector is witnessing rapid advancements, with significant contracts awarded to major players like Huawei, Cambricon, and Haiguang, indicating a strong market presence [10]. - The recent launch of DeepSeek-V3.1, which supports new precision parameters for upcoming domestic chips, highlights the growing capabilities and competitiveness of local AI chip manufacturers [11]. - Since June, the domestic GPU sector has entered a new upward trend, with leading companies like Cambricon and Haiguang experiencing substantial stock price increases, reflecting positive market sentiment [12].