半导体与半导体生产设备行业周报：GPU产业链行情持续修复，苹果AI上线国内临近

Investment Rating - The report maintains a "Recommended" investment rating for the semiconductor and semiconductor production equipment industry [4]. Core Insights - The GPU industry chain is experiencing a recovery, with significant movements in AI chip indices both domestically and internationally. The overseas AI chip index rose by 4.5%, while the domestic AI chip index fell by 2.2% due to the influence of the DeepSeek model [1][9]. - The global semiconductor sales are projected to reach $626 billion in 2024, with an 18.1% year-over-year increase, and are expected to grow to $705 billion in 2025. Data centers are anticipated to be a major growth driver, with revenues expected to reach $112 billion in 2024, a 73% increase year-over-year [2][18]. - Major cloud service providers (CSPs) are significantly increasing their capital expenditures for 2025, with Google planning a 42.7% increase, Amazon 11%, Meta 59%, and Microsoft approximately 44% [2][21]. Market Indices - The overseas AI chip index has increased by nearly 69% over the past year, while the domestic AI chip index has risen by approximately 132% [9]. - The server ODM index has seen a 5.6% increase this week, driven by improved GPU supply and expanded capital expenditures from CSPs [10]. - The storage chip index has decreased by 2.8% due to weak demand in traditional sectors such as consumer electronics, industrial, and automotive [13]. Industry Data - In 2024, the storage chip segment is expected to grow by 71.8%, increasing its share of total semiconductor revenue to 25.2% [2][18]. - The AI PC and AI smartphone markets are projected to see significant growth, with AI PC shipments expected to rise from 5% in 2023 to 55% in 2024, and AI smartphones from 8% to 16% in the same period [28][31]. - The Chinese tablet market is forecasted to see a shipment volume of 29.85 million units in 2024, reflecting a 4.3% year-over-year increase [28]. Major Events - SMIC forecasts a revenue of approximately 57.8 billion yuan for 2024, representing a 27.7% year-over-year increase, despite a projected decline in net profit [3][33]. - Sunny Optical anticipates a net profit increase of 140%-150% for 2024, driven by the recovery in the global smartphone market and the integration of AI in hardware [3][34]. - Apple is set to launch AI features for iPhone users in China, pending regulatory approval, which is expected to enhance its market position [35].