算力产业系列跟踪：AMD发布MI350系列产品，单卡和综合性能再次大幅提升

Investment Rating - The report maintains a "Positive" investment rating for the industry [7]. Core Insights - AMD has launched the Instinct MI350 series GPUs, significantly enhancing single-card and overall performance, with a 4x increase in AI computing capability and a 35x increase in AI inference performance compared to the previous generation [2][11]. - The domestic computing power industry in China is experiencing growth in both total volume and market share, highlighting the industry's beta characteristics, and the report reiterates a recommendation for the domestic computing power sector [2][11]. Summary by Sections Event Description - AMD held the Advancing AI conference on June 12, 2025, where it unveiled the Instinct MI350 series GPUs, an end-to-end open-standard rack-level AI infrastructure, and previewed the next-generation AI rack named "Helios" [4]. Product Performance - The AMD Instinct MI355X accelerator card achieves FP6 and FP4 computing power of 20.1 PFLOPS, representing a 4x increase in AI computing capability and a 35x increase in AI inference performance compared to the previous generation [11]. - The MI350 series supports FP6 and FP4, aligning with current AI inference trends and offering better overall cost-performance [11]. - AMD's next-generation MI400 series is expected to double the peak computing power to 40 PFLOPS for FP4 precision and reach 20 PFLOPS for FP8 [11]. Infrastructure Development - AMD is advancing towards an open rack-level AI infrastructure, integrating the fifth-generation EPYC CPU and Instinct MI350 series GPUs into industry-standard designs, achieving 3.58 times higher FP6 performance compared to competitors [11]. - The upcoming "Helios" infrastructure will support up to 72 MI400 series GPUs with a vertical expansion bandwidth of 260 TB/s [11]. Software Enhancements - The new AMD ROCm 7 software stack significantly improves performance, with inference capabilities increasing by over 3.5 times and training capabilities by 3 times compared to ROCm 6 [11]. - AMD Developer Cloud has been introduced to provide developers with immediate access to AMD computing power for various applications [11]. Market Outlook - The AI chip market for data centers remains robust, with continuous product iterations and improvements in cost-performance [11]. - The report highlights the growth of domestic AI chip manufacturers in China, particularly in high-end CPU and GPU sectors, amidst U.S. restrictions on high-end AI chip exports [11].