Nvidia(US:NVDA) 券商中国·2025-07-31 05:59Core Viewpoint - The article discusses the recent developments regarding Nvidia's H20 chip and its implications for the Chinese market, highlighting the security concerns raised by the Chinese government and the subsequent rise of domestic alternatives in the GPU sector [1][2][6]. Group 1: Nvidia's H20 Chip and Security Concerns - The Chinese government has summoned Nvidia to explain the security risks associated with the H20 chip, citing laws related to cybersecurity and data protection [1][2]. - The H20 chip, designed specifically for the Chinese market, has faced scrutiny due to potential backdoor vulnerabilities, leading to increased calls for advanced chips to include tracking and remote shutdown features [2][5]. Group 2: Market Reactions and Domestic Alternatives - Following the news of Nvidia's security issues, domestic companies like Cambrian Technology saw significant stock price increases, with Cambrian rising over 7% [1][6]. - Several domestic GPU companies, including Moore Threads and Muxi Integrated Circuit, are accelerating their development and have recently filed for IPOs to raise funds for GPU research and market expansion [6]. - Moore Threads aims to raise 8 billion yuan for its GPU development, indicating strong market potential and a commitment to enhancing domestic capabilities in AI and graphics processing [6]. Group 3: Technological Advancements - Huawei has announced the CloudMatrix384AI super node, significantly enhancing its computing power from 6.4 pFLOPS to 300 pFLOPS, marking a 50-fold increase [7]. - The new architecture supports advanced AI model inference, improving throughput and reducing latency, showcasing the rapid advancements in domestic technology [7].