电子行业周报：英伟达Rubin平台正式发布，台积电2025全年营收创新高-20260112

Investment Rating - The report suggests a positive outlook for the semiconductor industry, highlighting structural opportunities in AI computing, AIOT, semiconductor equipment, key components, and rising storage prices [6][7]. Core Insights - The semiconductor industry is experiencing a comprehensive recovery in demand, with TSMC reporting a December revenue of approximately NT$335 billion, a year-on-year increase of 20.4%, and a full-year growth of 31.6%, marking a historical high [6][12]. - NVIDIA's Rubin platform, which integrates six core chips, has been fully mass-produced, significantly reducing the cost of generating tokens to about one-tenth of the previous generation [6][12]. - The report emphasizes the ongoing recovery in the electronics sector, with storage chip prices rising and domestic production efforts exceeding expectations [6][7]. Summary by Sections Industry Overview - The electronics sector is witnessing a strong recovery, with NVIDIA showcasing its Rubin platform at CES 2026, which includes six chips designed for optimal collaboration, enhancing AI deployment efficiency [6][12]. - TSMC's December revenue reflects robust demand driven by AI applications, with a high capacity utilization rate indicating a sustained recovery in the semiconductor industry [6][12]. Market Performance - The report notes that the electronics industry outperformed the broader market, with the Shenzhen and Shanghai 300 Index rising by 2.79% and the Shenwan Electronics Index increasing by 7.74% [21][23]. - Various sub-sectors within the electronics industry showed significant gains, particularly semiconductors (+10.61%) and electronic chemicals (+15.95%) [23][27]. Investment Recommendations - The report recommends focusing on companies benefiting from strong domestic and international demand in the AIOT sector, such as Lexin Technology and Rockchip Technology [7]. - It also highlights opportunities in AI-driven sectors, including computing chips and optical devices, suggesting investments in companies like Cambricon and Source Photonics [7].