谷歌TPU“造富”赛微电子

Core Viewpoint - Saiwei Electronics has experienced a significant surge in stock price, driven by its close association with Google's TPU technology and the recent release of Google's Gemini3 model, which has garnered positive reviews and optimistic market expectations for TPU sales [2][4]. Group 1: Stock Performance - On December 2, Saiwei Electronics' stock rose by 15.27%, reaching a market capitalization of 42.78 billion yuan and closing at 58.43 yuan, marking a new historical high [2][3]. - Over the past month, the stock has seen a cumulative increase of 139%, largely attributed to the AI wave initiated by Google [4]. Group 2: Industry Context - Google's recent advancements in AI, particularly the release of the seventh-generation TPU "Ironwood" and the Gemini3 model, have led to heightened optimism regarding the TPU supply chain, with projected production increases from approximately 3 million units in 2027 to about 5 million units, and from 3.2 million units in 2028 to around 7 million units [4]. - There are rumors that Meta is planning to invest billions in purchasing TPUs, which could help Google capture 10% of Nvidia's annual revenue [4]. Group 3: Company Operations - Saiwei Electronics specializes in MEMS chip manufacturing and operates under a Pure-Foundry model, aligning closely with Google's TPU architecture, which incorporates OCS switches that utilize MEMS technology [5]. - The company holds a 45.24% stake in Swedish firm Silex, which has established a connection with Google through MEMS-OCS orders [5][7]. - Saiwei's Beijing facility has an existing MEMS wafer production capacity of 15,000 pieces per month, with plans for further expansion [5]. Group 4: Strategic Moves - The company has actively sought growth opportunities, transitioning from its original focus on inertial navigation products to a more diversified portfolio that includes MEMS and semiconductor technologies [9][10]. - Recent acquisitions include a 56.24% stake in Zhan Cheng Technology and investments in companies involved in IC design and EDA software, indicating a strategic pivot towards self-sufficiency in semiconductor technology [11]. Group 5: Leadership and Management - The company's actual controller, Yang Yunchun, has a background in high-precision navigation and has been instrumental in the company's strategic direction and capital operations [12]. - Yang has a history of capital management, including significant stock purchases during market downturns and subsequent reductions in holdings as the company's stock price increased [13][14].