智通财经网·2026-01-26 03:53Core Insights - The report from GF Securities highlights the increasing importance of AI memory as a foundational capability for context continuity, personalization, and historical information reuse, which is expected to accelerate the deployment of applications like AI Agents [1] Group 1: AI Agent and CPU Demand - The demand for CPUs is expected to increase due to AI Agents driven by three main factors: (1) Amplified application call volume as users can simultaneously engage multiple Agents, leading to higher system requests and increased CPU load [1] (2) Orchestration bottlenecks as the decision-making process involves multiple external tools, which increases CPU utilization [1] (3) Sandbox isolation raises overhead costs, necessitating additional CPU, memory, and storage configurations [1] Group 2: CPU Ratio Trends - According to a report by Semianalysis, the CPU ratio per GPU megawatt (MW) is currently below 10% but is projected to rise to 15% by Q2 2026, indicating a significant increase in CPU demand alongside GPU deployment [2] Group 3: Memory and Interface Chip Opportunities - The demand for memory modules is expected to grow as AI servers shift towards full insertion (2DPC) configurations to meet higher capacity and bandwidth requirements, leading to a doubling of DIMM demand relative to CPU growth [3] - The transition from traditional RDIMM to MRDIMM configurations will require more complex interface chips, which will drive up the average selling price (ASP) of supporting chips, thus expanding the market for memory modules and interface chips [3]