Core Viewpoint - Intel and Nvidia have formed a historic partnership, with Nvidia investing $5 billion in Intel to co-develop customized data center and personal computing products, marking a significant shift from competition to collaboration in the semiconductor industry [2][3][4]. Group 1: Partnership Details - Nvidia will utilize its NVLink technology to seamlessly integrate its AI and accelerated computing advantages with Intel's advanced CPU technology, aiming to provide cutting-edge solutions for customers [3]. - Intel will customize x86 processors for Nvidia's AI infrastructure and launch x86 system-on-chip (SoC) products that integrate Nvidia's RTX GPU chiplets for various PC applications [4]. - This partnership is seen as a strategic move for both companies, with Nvidia seeking to enhance its CPU market presence and Intel aiming to revitalize its position in the semiconductor industry [5][6]. Group 2: Market Impact - Following the announcement, Intel's stock surged nearly 30%, closing with a 22.77% increase, while Nvidia's stock rose by 3.49% [6]. - The collaboration is expected to create a new competitive landscape in the semiconductor market, particularly affecting AMD and ARM, which may face increased pressure due to the strengthened position of Intel and Nvidia [9][10]. - The partnership may also challenge TSMC's dominance if Nvidia shifts some of its chip manufacturing to Intel [9]. Group 3: Implications for Chinese Semiconductor Industry - The alliance between Nvidia and Intel could further consolidate the U.S. dominance in high-end computing and data center chips, complicating competition for Chinese manufacturers [11]. - Chinese companies are likely to accelerate their independent innovation efforts, focusing on developing "super nodes" as a key strategy to enhance their competitive edge [11][12]. - Domestic firms are exploring distributed architectures and interconnect innovations to create independent systems that do not rely on Nvidia's ecosystem, which is crucial for China's long-term technological independence [13].

Investment Rating - The report suggests a positive outlook for the industry, indicating that the performance of related stocks is expected to outperform the benchmark index over the next 12 months [17]. Core Insights - Huawei's roadmap for AI chips, supernodes, and computing clusters is anticipated to lead a new paradigm in China's AI infrastructure, with supernodes becoming the new norm in AI infrastructure construction [5][11]. - The domestic computing power is constrained by manufacturing processes, but the development of "supernode + cluster" computing solutions is expected to continuously meet computing power demands [5][11]. - The introduction of supernodes is expected to enhance demand and value across multiple computing segments, including increased interconnectivity, liquid cooling value, and the transition from traditional product manufacturers to system solution providers [5][11]. Summary by Sections Event Description - On September 18, 2025, during the Huawei Connect 2025 conference, Huawei announced its AI chip roadmap, including the launch of the Ascend 950PR chip in Q1 2026, the Ascend 950DT chip in Q4 2026, the Ascend 960 chip in Q4 2027, and the Ascend 970 chip in Q4 2028 [8]. Event Commentary - Huawei's recent announcements include the launch of the Atlas 950 SuperPoD and Atlas 960 SuperPoD, supporting 8192 and 15488 Ascend cards respectively, and the introduction of new supernode clusters, Atlas 950 SuperCluster and Atlas 960 SuperCluster, with computing power exceeding 500,000 and reaching one million cards [11]. - The report emphasizes that supernodes are rapidly becoming a new standard in AI infrastructure, with Huawei leveraging its communication capabilities to overcome key bottlenecks and support large model training and inference [11]. - The domestic semiconductor industry is accelerating the iteration of domestic technologies, with improvements in advanced manufacturing processes and increasing localization of supporting equipment and materials [11]. Investment Opportunities - The report suggests focusing on investment opportunities in the following areas: leading domestic AI chip companies like Cambricon, high-end CPU and DCU leaders, supernode server manufacturers such as FiberHome and Digital China, supernode-related partners of Huawei, and suppliers in the advanced semiconductor manufacturing chain [11].

Investment Rating - The report maintains an "Outperform" rating for the industry [6] Core Insights - Huawei's new products, including Ascend chips and supernodes, are set to lead a new era in computing power, with a clear roadmap for product iterations from 2025 to 2028 [1][14] - The introduction of self-developed HBM technology marks a significant advancement in memory bandwidth, enhancing the efficiency of large model training [3][23] - The supernode architecture is designed to integrate hundreds of processors, reshaping the competitive landscape in AI infrastructure [22][24] Summary by Sections 1. Huawei Computing Power Product Launch - Ascend chips will follow a yearly iteration schedule, with the 910C launching in Q1 2025 and subsequent models (950PR, 950DT, 960, 970) planned through 2028 [14][15] - The Ascend 950 series introduces low-precision data formats and self-developed HBM, enhancing training efficiency for large models [15][16] - The Ascend 960 and 970 are expected to double performance metrics across various parameters, including computing power and memory bandwidth [18][19] 2. Supernode Products - The supernode data center (Atlas 900/950/960 SuperPoD) is designed for large-scale AI training, achieving EFLOPS-level computing power with high bandwidth and low latency [2][27] - The supernode cluster (Atlas 950/960 SuperCluster) enhances network performance and energy efficiency, reaching ZFLOPS-level computing power [2][37] - The enterprise-grade air-cooled supernode server (Atlas 850) is tailored for post-training and multi-scenario inference, supporting flexible scaling [2][38] 3. Related Investment Targets - Key investment targets include hardware partners for Ascend, domestic wafer foundries, and companies involved in copper connections, optical connections, power supplies, PCBs, and cooling solutions [4][46]

Core Insights - Huawei is making significant advancements in AI computing power, showcasing a comprehensive AI computing architecture at the Huawei Connect Conference [1][3] - The company aims to establish a sustainable computing ecosystem based on its proprietary Ascend chips and Kunpeng CPUs, positioning itself as a key player in the AI market [5][8] Group 1: AI Computing Strategy - Huawei's AI computing strategy is centered around the Ascend chip series, with a roadmap for iterative upgrades over the next three years, aiming for a doubling of computing power annually [3][5] - The upcoming Ascend 950 series is designed to enhance training efficiency and support various low-precision data formats, indicating a focus on optimizing AI workloads [3][4] Group 2: Supernodes and Clusters - Huawei introduced new supernode products, Atlas 950 SuperPoD and Atlas 960 SuperPoD, which support 8192 and 15488 Ascend cards respectively, positioning them as leaders in global computing power [6][7] - The Atlas 950 SuperCluster and Atlas 960 SuperCluster are set to exceed 500,000 and 1 million cards, respectively, further solidifying Huawei's dominance in AI infrastructure [6] Group 3: Competitive Landscape - Despite NVIDIA's current dominance in the AI chip market, Huawei is rapidly developing its Ascend and Kunpeng chips to compete effectively within the Chinese AI landscape [5][6] - Huawei's approach includes a focus on system-level engineering and innovation, aiming to create a competitive edge in the evolving AI computing sector [7][9]

Core Viewpoint - Huawei is leading a new paradigm in AI infrastructure with its innovative supernode interconnection technology, emphasizing the importance of computing power in artificial intelligence development [2][8]. Summary by Sections Ascend Chip Development - Huawei has committed to the monetization of Ascend hardware and plans to open-source its CANN compiler and virtual instruction set interface by December 31, 2025 [2]. - The Ascend 950 series, including Ascend 950PR and Ascend 950DT, is set to significantly enhance computing power and efficiency compared to previous models [3][4]. - The Ascend 950 chip will support new data formats and achieve a computing power of 1 PFLOPS for FP8 and 2 PFLOPS for FP4, with interconnect bandwidth increased to 2 TB/s [5][6]. Upcoming Chip Releases - The Ascend 950PR chip is targeted for Q1 2026, focusing on inference prefill and recommendation scenarios, while the Ascend 950DT will be released in Q4 2026, emphasizing inference decode and training [6][7]. - The Ascend 960 chip, expected in Q4 2027, will double the specifications of the Ascend 950, enhancing performance for training and inference [7]. - The Ascend 970, planned for Q4 2028, aims to further upgrade performance metrics across various specifications [7]. Supernode Products - The Atlas 950 supernode, based on the Ascend 950DT, will support 8192 Ascend 950DT chips, achieving FP8 computing power of 8 EFLOPS and interconnect bandwidth of 16 PB/s, set to launch in Q4 2026 [9][10]. - The Atlas 960 supernode, launching in Q4 2027, will support 15488 cards, with FP8 computing power reaching 30 EFLOPS and interconnect bandwidth of 34 PB/s [11]. Interconnection Technology - Huawei has developed a new interconnection protocol, "Lingqu," to support large-scale supernodes, enhancing reliability and bandwidth while reducing latency [18][19]. - The Atlas 950 SuperCluster, consisting of 64 Atlas 950 supernodes, will achieve a total FP8 computing power of 524 EFLOPS, launching alongside the Atlas 950 supernode in Q4 2026 [20]. Future Directions - Huawei aims to continue evolving its supernode and cluster products to meet the growing demands for AI computing power, with a focus on both AI and general computing applications [12][21].

明敏 发自 HC大会 量子位 | 公众号 QbitAI 华为的芯片节奏，全面走上了新轨道。 继余承东三折叠手机发布会上亮相麒麟芯片后，AI算力芯片也有了最新进展。 就在华为全联接大会上，轮值董事长徐直军，带来了 全球最强算力超节点和集群 ！ Atlas 950 SuperPoD和Atlas 960 SuperPoD超节点，分别支持8192及15488张昇腾卡。 明年Q1推出昇腾950PR，采用华为自研HBM 芯片方面，华为将坚持"一年一代，算力翻倍"的节奏，持续演进数据格式和带宽技术，以满足AI算力增长的无限需求。 由此公布了昇腾950系列、昇腾960系列和昇腾970系列的演进路线。 昇腾950系列 Atlas 950 SuperPoD预计在2026年第四季度上市，完全超越英伟达预计在2027年上市的NVL576， 在未来2年内保持全球算力第一 。 同时还发布了全球最强超节点集群，分别是Atlas 950 SuperCluster和Atlas 960 SuperCluster，算力规模分别超过50万卡和达到百万卡， 同样坐稳全球最强集群宝座。 此外，华为还公布了昇腾芯片、鲲鹏芯片未来2年的演进规划。包括昇腾9 ...

Core Insights - The article emphasizes the critical role of computing power in the development of artificial intelligence (AI) and highlights Huawei's advancements in this area through the launch of powerful supernodes and clusters [1][6]. Group 1: Huawei's Supernodes and Clusters - Huawei introduced the Atlas 950 SuperPoD and Atlas 960 SuperPoD, which support 8192 and 15488 Ascend cards respectively, claiming to be the world's strongest supernodes in terms of scale, total computing power, memory capacity, and interconnect bandwidth [1][2]. - The Atlas 950 SuperCluster and Atlas 960 SuperCluster were also launched, with computing power exceeding 500,000 cards and reaching one million cards, respectively, positioning them as the strongest computing clusters globally [1][2]. Group 2: Ascend Chips and AI Strategy - The Ascend chips are foundational to Huawei's AI computing strategy, with a roadmap that includes the Ascend 950 series, Ascend 960, and Ascend 970 series, with the Ascend 950PR chip expected to launch in Q1 2026 [2][6]. - The article notes that the Ascend 910C chip, part of the Atlas 900 supernode, can achieve a maximum computing power of 300 PFLOPS, maintaining its status as the largest supernode globally [2]. Group 3: Innovations in Interconnect Technology - Huawei faced significant challenges in designing the Atlas 950 and Atlas 960 supernodes, particularly in achieving long-distance, high-reliability connections and high bandwidth with low latency [4][5]. - The company implemented innovative solutions to enhance interconnect reliability by introducing high-reliability mechanisms at various protocol layers and achieving a 100-fold increase in optical interconnect reliability [5]. Group 4: Future of AI Infrastructure - The concept of supernodes is redefining AI infrastructure, enabling a new paradigm where multiple machines function as a single entity capable of learning, reasoning, and inference [3]. - Huawei's mixed supernode architecture is positioned as a solution for next-generation generative recommendation systems, supporting high-dimensional user features and low-latency inference [3].

华为还在现场发布了Atlas950 SuperPoD和Atlas 960 SuperPoD超节点，分别支持8192及15488张昇腾卡， 从卡规模、总算力、内存容量、互联带宽等关键指标上看，处于全球领先位置。此外，华为还同时发布 了超节点集群，分别是Atlas950 SuperCluster和Atlas960 SuperCluster，算力规模分别超过50万卡和达到 百万卡。 此外，他表示，超节点成为AI基础设施建设新常态，目前Cloud Matrix 384超节点累计部署300套以上。 徐直军指出："算力过去是，未来也将继续是人工智能的关键，更是中国人工智能的关键。"此外，他再 次强调："基于中国可获得的芯片制造工艺，华为努力打造'超节点+集群'算力解决方案，来满足持续增 长的算力需求。" 徐直军认为，超节点在物理上由多台机器组成，但逻辑上以一台机器学习、思考、推理。 华为在全联接大会2025上罕见公布了多款自研芯片的研发进展。 9月18日，华为副董事长、轮值董事长徐直军在演讲中表示，未来三年，华为已经规划了昇腾多款芯 片，包括950PR，950DT以及昇腾960和970。其中950PR2026年第一季度对 ...

Core Viewpoint - Computing power is crucial for artificial intelligence and will continue to be a key factor for China's AI development, as stated by Huawei's rotating chairman Xu Zhijun [3]. Group 1: Huawei's Chip Development - Huawei plans to launch the Ascend 950PR chip in Q1 2026, the Ascend 950DT in Q4 2026, the Ascend 960 chip in Q4 2027, and the Ascend 970 chip in Q4 2028 [3]. - The company has introduced the Atlas 900 A3 SuperPoD, with over 300 units deployed, serving more than 20 customers, and will release the Atlas 950 SuperPoD in Q4 2026, supporting 8192 Ascend cards with a computing power of 8 EFLOPS FP8 / 16 EFLOPS FP4 [5]. Group 2: Supernode Infrastructure - Huawei is developing the Atlas 960 SuperPoD, expected to support 15488 Ascend cards with a computing power of 30 EFLOPS FP8 / 60 EFLOPS FP4, planned for Q4 2027 [7]. - The company announced the Atlas 950 SuperCluster and Atlas 960 SuperCluster, with computing power exceeding 500,000 cards and reaching one million cards, respectively [9]. Group 3: General Computing and Open Technology - Huawei revealed the roadmap for the Kunpeng chip, with the Kunpeng 950 chip set to launch in Q4 2026 and the Kunpeng 960 chip in Q1 2028 [9]. - The company introduced the TaiShan950 SuperPoD, the world's first general computing supernode, expected to launch in Q1 2026, which aims to replace various large and small machines as well as Exadata database integrated machines [9]. - Xu Zhijun announced that the supernode technology will be fully open, including the Lingqu 2.0 technology specifications, which encompass foundational, firmware, and operating system reference design specifications [9].

Core Insights - Huawei has unveiled multiple self-developed chip advancements at the 2025 Global Connectivity Conference, including the launch timeline for the Ascend 950PR chip in Q1 2026, which utilizes Huawei's self-developed HBM technology [2] - The concept of "super nodes" has emerged as a new norm in AI infrastructure, with over 300 Cloud Matrix 384 super nodes deployed, emphasizing the critical role of computing power in the future of artificial intelligence in China [4][5] Group 1 - Huawei's newly released Atlas950 SuperPoD and Atlas 960 SuperPoD super nodes support 8,192 and 15,488 Ascend cards respectively, showcasing global leadership in key metrics such as card scale, total computing power, memory capacity, and interconnect bandwidth [7] - The company has also introduced super node clusters, Atlas950 SuperCluster and Atlas960 SuperCluster, with computing power exceeding 500,000 cards and reaching one million cards [7] - Huawei is confident in providing sustainable and ample computing power for the long-term rapid development of artificial intelligence, leveraging the strongest computing power globally through super nodes and clusters [8] Group 2 - Huawei has pioneered the introduction of super node technology into general computing, launching the world's first general computing super node, TaiShan 950 SuperPoD, which aims to replace various large and small machines as well as Exadata database integrated machines [8] - The company has overcome significant challenges in interconnect technology for large-scale super nodes, introducing the UnifiedBus interconnect protocol, with plans to open the Lingqu 2.0 technical specifications in the future [8] - Despite facing restrictions from U.S. sanctions that limit access to TSMC for chip production, Huawei emphasizes its strengths in connectivity technology, which has been developed over 30 years, enabling the achievement of super nodes with tens of thousands of cards [8]