3 6 Ke·2026-01-21 12:18Core Viewpoint - The semiconductor sector in A-shares has seen a significant surge, particularly in computing chips, with several stocks reaching new highs, driven by strong demand for CPUs and upcoming earnings reports from Intel and AMD [1][3]. Group 1: Market Performance - The semiconductor sector experienced a broad increase, with notable gains in CPU-related stocks such as Longxin Zhongke, which hit a 20% limit up, and Haiguang Information, which rose over 13% to a historical high [1]. - Key stocks and their respective gains include: - Longxin Zhongke: +20.00% - Zhizhi Co.: +15.78% - Haiguang Information: +13.34% - China Great Wall: +10.00% [2]. Group 2: Supply and Demand Dynamics - Intel and AMD have sold out their server CPU capacity for 2026 due to high demand from large cloud service providers, leading both companies to plan a price increase of 10-15% for server CPUs [2]. - The demand for server chips is expected to grow at an annual rate of 30% to 40% by 2026, significantly higher than Wall Street's current forecast of 4% to 6% [3][6]. Group 3: Technological Advancements - Intel has introduced its third-generation Intel® Core™ Ultra processor, which is based on the advanced Intel 18A process technology, aimed at supporting various sectors including smart cities and healthcare [3]. - AMD is also launching its fifth-generation EPYC "Turin" and Intel Xeon "Granite Rapids" CPUs, which feature significant improvements in core count and memory bandwidth [4]. Group 4: Industry Insights - The importance of CPUs is highlighted as they are essential for coordinating hardware and ensuring system stability in high-end AI servers, which typically use a configuration of 8 GPUs paired with 2 high-end CPUs [5]. - The ongoing evolution of generative AI is driving an increase in AI server procurement, which is expected to push the demand for server CPUs higher [6].