对立的传言，有关H20！

Core Viewpoint - The article discusses two conflicting rumors regarding the H20 supply chain, focusing on NVIDIA's potential increase in H20 production and its implications for both NVIDIA's supply chain and domestic competitors. Group 1: Rumors and Market Reactions - The first rumor suggests a ban on major customers using H20, which is less widespread compared to the "Han Wang 690" rumor [2] - The second rumor indicates that NVIDIA is preparing for H20 production, requesting TSMC to provide 5,000 to 9,000 wafer capacities [3][4] Group 2: Implications of H20 Production - Due to H20's excellent performance and exclusive supply to China, NVIDIA has strong motivation to expand production [5] - Increasing H20 production could allow NVIDIA to capture market share and expedite the development and mass production of B-series special supply chips, potentially prioritizing H20 over B-series [6] - The exploration of H20 will not negatively impact the promotion of NVIDIA's Blackwell, as H20 is not considered a high-end product and will not psychologically affect other major customers [7] Group 3: Benefits to the Supply Chain - If production resumes, it will undoubtedly benefit NVIDIA's supply chain, as the value and maturity of H20 are recognized, leading to increased procurement [8] - The situation is not necessarily negative for domestic graphics cards, as there are procurement requirements and subsidies that will likely boost domestic card volumes [9] Group 4: Market Sentiment - The current market is characterized by rapid rotation driven by abundant liquidity, with a need for careful discernment amidst fluctuating emotions [10] - Although information about H20's supply restoration has not widely circulated, the prevailing sentiment is positive for both NVIDIA's supply chain and domestic competitors [11] - NVIDIA and Broadcom are reaching new highs, indicating a robust North American computing chain [12]