从停摆到回归：国产ARM大芯片，机会来了！

Core Viewpoint - The article discusses the revival of the Chinese semiconductor industry, focusing on the return of Borui Jinxin after overcoming financial difficulties and the broader implications for ARM CPU manufacturers and the semiconductor sector as a whole [2][6]. Group 1: Industry Trends - The Chinese chip design industry has seen significant growth, with the number of chip design companies increasing from 1,780 in 2019 to an expected 3,901 by 2025, reflecting a compound annual growth rate (CAGR) of approximately 24.6% from 2019 to 2025 [3]. - Factors driving this growth include the rise of artificial intelligence, the maturity of RISC-V, and the electrification and intelligence of vehicles, with ARM high-performance products being a standout segment [3][12]. Group 2: ARM Architecture and Market Dynamics - ARM architecture has gained recognition across various applications, including embedded systems, mobile devices, PCs, and servers, particularly in the context of AI and cloud computing [4][12]. - IDC predicts a 70% increase in server shipments based on ARM architecture by 2025, with nearly 50% of computing power in top-tier data centers expected to be ARM-based by the same year [4][5]. Group 3: Challenges and Opportunities for Domestic Companies - Domestic companies like Borui Jinxin face challenges in SoC design due to the high costs associated with advanced manufacturing processes, with design costs escalating from $9 million at 16nm to $249 million at 7nm, and potentially reaching $725 million at 2nm [10][11]. - Despite a cautious investment environment, Borui Jinxin has secured new funding, raising questions about the future opportunities for domestic ARM chip manufacturers in the evolving market landscape [11][14]. Group 4: Competitive Landscape - The article highlights the competitive advantage of Borui Jinxin due to its access to ARM instruction set licensing, which allows for greater autonomy in CPU development compared to competitors relying solely on IP licensing [14]. - Major cloud service providers like AWS, Google, and Microsoft are increasingly adopting ARM-based server CPUs, indicating a growing acceptance and demand for ARM architecture in the market [12][13].