电子：AI席卷CES 2025，芯片加速迭代满足持续高增的算力需求

Investment Rating - The industry investment rating is "Outperform the Market" with a projected relative performance exceeding 10% over the next 6-12 months [5][11]. Core Insights - The CES 2025 showcased AI as the central theme, highlighting advancements in AI chips to meet the rapidly growing demand for computing power [1]. - Major companies like NVIDIA, Intel, AMD, and Qualcomm are making significant strides in AI chip development, indicating a robust growth trajectory in the semiconductor sector driven by AI applications [2][3][4][5]. Summary by Relevant Sections NVIDIA - Introduced the Grace Blackwell NVLink 72 chip with 1.4 ExaFLOPS computing power and 14 TB memory [2]. - Launched the RTX 50 series graphics cards aimed at gamers and creators, with the RTX 5090 offering 3400 TOPS computing power [2]. - Announced Project Digits, a personal supercomputer capable of running AI models with up to 200 billion parameters [2]. - Developed the Cosmos foundational model for accelerating the development of physical AI systems [2]. - Released the Thor automotive chip, boasting 20 times the computing power of its predecessor, Orin [2]. Intel - Announced the Panther Lake processor, its first chip based on Intel 18A technology, set to launch in the second half of 2025 [3]. AMD - Launched new Ryzen 9 9950X3D and 9900X3D processors, featuring up to 16 cores and 5.7GHz boost frequency [4]. - Introduced the Fire Range series mobile processors, with flagship models also featuring 16 cores and advanced cache technology [4]. - Released Radeon RX 9070/60 graphics cards based on RDNA 4 architecture, supporting high-quality 4K resolution [4]. Qualcomm - Launched the Snapdragon X series for PCs, with over 100 models expected by 2026 [7]. - Focused on AI-enabled in-car experiences and advanced driver-assistance systems (ADAS) [7]. - Positioned 2025 as the "Smart Home 2.0" year, showcasing new AI-integrated home appliances and robots [7]. - Introduced the Qualcomm Aware platform to enhance IoT solutions across various industries [7]. Investment Opportunities - Suggested companies to watch include Haiguang Information, Longxin Zhongke, Cambricon, and others in the computing chip sector [8]. - Advanced packaging companies like Tongfu Microelectronics and Changjiang Electronics Technology are also highlighted as potential investment opportunities [9].