Core Viewpoint - The Chinese Ministry of Commerce has reiterated its opposition to the U.S. export controls on artificial intelligence chips, stating that such actions are a violation of international law and harm the legitimate rights of Chinese companies [1] Group 1: U.S. Export Controls - The U.S. is accused of abusing export controls to suppress China, which is seen as a violation of basic international relations principles [1] - The Chinese government emphasizes that these measures severely damage the legitimate rights and interests of Chinese enterprises [1] Group 2: China's Response - China will closely monitor the subsequent actions of the U.S. and is prepared to take resolute measures to protect its legitimate rights [1]

该 27 国集团正在咨询行业利益相关者，包括位于布鲁塞尔的 SEMI 欧洲分支机构，以规划 2028 年至 2034 年期间的长期支出，并计划于 7 月公布预算。 SEMI 在 路 透 社 看 到 的 信 函 中 表 示 ， 欧 盟 委 员 会 将 需 要 在 整 个 半 导 体 供 应 链 中 拨 款 200 亿 欧 元 （226.4亿美元），这将引发公共和私人实体总计超过2600亿欧元的投资。 3月下旬，欧洲审计院表示，按照目前的速度，欧盟到2030年芯片产量达到全球20%的目标无法实 现。 欧盟最高审计机构在报告中表示，欧盟委员会迄今仅为430亿欧元的《欧洲芯片法案》投入了45亿 欧元，而约80%的公共资金来自成员国。 SEMI表示，单独的欧盟预算将有助于创造整个地区公平的竞争环境，因为目前每个成员国都首先 投资于自己的民族产业。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：本文编译自路透社 ，谢谢 。 国际半导体产业协会 (SEMI) 周二在对欧盟即将出台的投资预算进行磋商的官方回应中表示，欧盟 应该将其芯片支出增加四倍，并为此分配单独的预算。 欧洲立法者和行业团体正在推动"芯片法案2.0"，力求 ...

Market Performance - The three major U.S. indices rose, with the Dow Jones and S&P 500 increasing for the sixth consecutive day, closing at 40,527.62 points (up 0.75%) and 5,560.83 points (up 0.58%) respectively [1] - European markets showed mixed results, with Germany's DAX30 up 0.72% and France's CAC40 down 0.24% [1] Economic Indicators - The U.S. consumer confidence index fell to 86.0, the lowest level since May 2020, reflecting growing concerns over tariffs and economic outlook [4] - Job vacancies in the U.S. dropped to the lowest level since September of the previous year, indicating weakened labor demand amid economic uncertainty [5] Corporate Developments - UPS announced a significant layoff of approximately 20,000 employees, marking it as the first major U.S. company to implement large-scale layoffs due to the impact of tariff-related trade slowdowns [9] - Adidas' CEO expressed that U.S. tariff policies are creating uncertainty, affecting the company's ability to adjust revenue and profit forecasts [10] - Walmart decided against disclosing tariff-related costs on product pricing to avoid aggravating the Trump administration, while striving to keep product prices low [10][11] Industry Investments - The U.S. battery industry plans to invest $100 billion over the next decade to establish a fully domestic supply chain, which is expected to create 350,000 jobs [6]

Summary of the Conference Call on Cambricon Technologies Industry and Company Overview - The conference call focuses on the domestic AI chip industry, specifically highlighting Cambricon Technologies as a leading player in the market [3][5][6]. Core Points and Arguments - **Excess Opportunities in Domestic Computing Power**: The recommendation for Cambricon-U is based on the significant opportunities in the domestic computing power sector, driven by increased capital expenditures from major internet companies like ByteDance, Alibaba, and Tencent, with an expected cycle of three years [3][4]. - **Supply Constraints**: The supply side faces restrictions due to overseas HRS export limitations to China and constraints in chip production, leading to a favorable environment for domestic AI chips like Cambricon [3][4]. - **Revenue Growth**: Cambricon's revenue for 2023 is projected to exceed 709 million RMB, with expectations to reach 1.1 to 1.2 billion RMB in 2024, indicating rapid growth [3][6]. - **Market Dynamics**: The global GPU chip market is experiencing rapid growth, with an expected annual growth rate of nearly 33% from 2024 to 2030, providing a favorable backdrop for Cambricon's expansion [7]. - **Chinese AI Chip Market**: The Chinese AI chip market is expected to grow to approximately 140 billion RMB in 2024 and around 180 billion RMB in 2025, with domestic market share likely to increase due to U.S. export controls on high-end AI chips [9][10]. Additional Important Insights - **Technological Leadership**: Cambricon focuses on AI chip R&D, maintaining a stable ownership structure and leveraging its academic and industrial partnerships to drive innovation [5][6]. - **Product Development**: The company has consistently iterated its cloud-based products, launching the 3,000 series and the latest 590 series, which competes with NVIDIA's Ampere architecture [12]. - **Software Platform Advantages**: Cambricon's training software platform supports distributed training tasks and enhances product cost-effectiveness, contributing to its competitive edge [13]. - **Future Prospects**: The company is expected to achieve breakeven or profitability by 2025, supported by a robust supply chain and cost management strategies [7]. - **Competitive Landscape**: Other companies, such as Aerospace Information, are also noted for their competitive advantages in the domestic computing power sector, indicating a growing market landscape [8]. Conclusion - Cambricon Technologies is positioned to capitalize on the growing demand for domestic AI chips, driven by supply constraints and increasing capital expenditures from major tech firms. The company's focus on technological innovation, product development, and strategic partnerships enhances its competitive position in the rapidly evolving AI chip market.