寒武纪股价暴涨，是期待过大吗？

Group 1 - The core viewpoint is that China's AI industry is moving towards a stage of software and hardware integration, significantly reducing reliance on foreign products like those from Nvidia [2][4] - The stock price of Cambricon Technology, a key player in China's semiconductor self-sufficiency policy, has surged, reflecting market optimism about domestic AI development without dependence on American companies [2][3] - The release of DeepSeek's new large language model (LLM) "V3.1" has heightened market expectations, with the Shanghai Stock Exchange's STAR Market 50 Index rising by 8.6%, reaching its highest level since February 2022 [2] Group 2 - Goldman Sachs raised Cambricon's target stock price from 1,223 yuan to 1,835 yuan, with the stock price doubling since the end of July [3] - Cambricon anticipates its revenue for the fiscal year 2025 to reach between 5 billion to 7 billion yuan, which is 4.3 to 6 times that of the previous year, with a total market value expected to exceed 600 billion yuan [3] - The expectation that China's AI development will not rely on American semiconductors is strengthening, despite potential competition from Alibaba's self-developed AI semiconductors [3]