电子行业点评：昇腾路线图重磅发布，超节点全面赶超加速放量

Investment Rating - The report maintains a "Recommended" rating for the industry [6] Core Insights - Huawei's recent announcements at the 2025 Full Connect Conference highlight the launch of the Ascend AI chip roadmap, indicating a strategic push to compete with NVIDIA in the high-end AI market [3][4] - The Ascend chip series will see annual upgrades, with significant performance enhancements in computing power, interconnect bandwidth, and memory capacity, positioning domestic AI computing chips among the world's best [4] - The emergence of supernodes as a new standard for AI infrastructure emphasizes the importance of internal interconnect capabilities, with Huawei's Atlas 950 SuperPoD expected to outperform NVIDIA's upcoming products in multiple performance metrics [5][7] Summary by Sections Chip Development - The Ascend 950 series will achieve a single-chip computing power of 1 PFLOPS (FP8) and 2 PFLOPS (FP4), with subsequent models doubling this performance [4] - The interconnect bandwidth of the 950 series will increase by 2.5 times compared to the current Ascend 910C, reaching 2 TB/s [4] Supernode Infrastructure - Supernodes are becoming the dominant product form in AI infrastructure, with Huawei's Atlas 950 SuperPoD supporting up to 15,488 Ascend cards [5] - The Atlas 950 Supernode's interconnect bandwidth is projected to reach 16.3 PB/s, significantly surpassing competitors [5][7] Investment Recommendations - The report suggests focusing on companies involved in chip production, supernode technology, and related infrastructure, including companies like SMIC, Tongfu Microelectronics, and others [7]