万亿AI巨头，紧急声明

Core Viewpoint - Industrial Fulian (601138) issued a clarification statement on November 24, denying rumors about a "reduction in fourth-quarter performance targets" and adjustments in major clients' business models, asserting that operations are proceeding as planned and customer demand remains strong [1][2] Group 1: Company Operations - The company confirmed that the overall operations for the fourth quarter, including the shipment of products like GB200 and GB300, are progressing according to established plans, with no adjustments to performance targets [1][2] - There have been no requests from major clients to alter business models, reduce shares, or adjust prices, indicating stable client relationships [1] - The development of next-generation products in collaboration with clients is on track and proceeding smoothly as per the initial schedule [1][2] Group 2: Market Reactions - Industrial Fulian's market capitalization exceeds 1 trillion, but the stock has seen a nearly 8% decline over two consecutive days, closing at 55.94 yuan per share with a trading volume of 18.72 billion yuan, ranking second in A-share trading [1] - Recent market rumors suggested a downward adjustment in the shipment volume of AI server cabinets to 80,000 units and a decline in profit per cabinet due to cloud service providers and Nvidia reclaiming more profitable segments of the server supply chain [1] - The company has not officially lowered its fourth-quarter performance targets despite these rumors [1][2] Group 3: Industry Context - There are conflicting views regarding the recent volatility in AI-related stocks, with the International Monetary Fund (IMF) warning that the current AI investment boom resembles the internet bubble of 25 years ago, suggesting potential irrational exuberance in market valuations [2] - Conversely, some investment institutions argue that AI investments are still in the early stages, with significant long-term productivity enhancement potential [2]