Group 1: Automotive Industry Overview - The automotive industry generated revenue of 32,552 billion yuan from January to April 2025, representing a year-on-year increase of 7% [1] - During the same period, the production of vehicles reached 10.12 million units, marking an 11% increase year-on-year [1] - The industry's cost was 28,636 billion yuan, up 8% year-on-year, while profits decreased by 5.1% to 1,326 billion yuan, resulting in a profit margin of 4.1% [1] Group 2: Company Developments - Xiaomi's SU7 Ultra has received over 23,000 pre-orders as of May 26, 2025, exceeding expectations, with the company aiming to achieve an annual delivery target of 350,000 units [2] - NIO Power Technology has increased its registered capital from 2 billion yuan to 2.04 billion yuan [7] - GAC Group has published a patent for an AI computing device for smart cockpits, which enhances AI capabilities without modifying existing hardware [4] Group 3: Technological Innovations - Hongmeng Zhixing announced that its vehicles equipped with Huawei's ADS have avoided over 1.81 million potential collisions [3] - Chery Automobile has published a patent for an automatic follow robot system that utilizes facial and voice recognition for enhanced user convenience [6] - Geely has applied for a trademark for its "Qianli Haohan Smart Driving" system, which integrates various AI technologies for a unified smart mobility solution [5] Group 4: Market Trends - Tesla's new car registrations in Europe fell by 52.6% in April, with a total of 5,475 vehicles registered, contributing to a year-to-date decline of approximately 46% [8] - Meko, a Swedish automotive parts distributor, announced the establishment of a new department to produce exclusive brand parts for repair shops and vehicle owners [8]

Core Insights - The KADC2025 conference showcased a series of new technologies, tools, and platforms aimed at enabling partners and developers for efficient development [1] - Huawei's ecological strategy emphasizes "hardware openness, software open-source, enabling partners, and talent development," focusing on core technology and system architecture innovation [1] - As of May 2025, over 6.65 million developers and more than 8,800 partners have been engaged, with 23,900 solutions certified [1] Group 1 - The Kunpeng AI+ solution was officially launched, along with the open-source community openFuyao for diverse computing cluster software [1] - The AI Core segment introduced the Kunpeng+xPU inference solution, compatible with Ascend and other domestic GPUs, covering scenarios from data centers to edge computing [1] - AI Infra components were released, enhancing data processing and retrieval capabilities with improved performance and security [1] Group 2 - AI application capabilities were presented, including business orchestration, deployment, and scheduling, aimed at building end-to-end AI solutions for enterprises [2] - The Kunpeng RAG solution 1.0 was launched, creating an open ecosystem for RAG business orchestration, AI microservices, deployment, scheduling, security, and storage [2] - The openFuyao project focuses on "cloud-native + AI," providing diverse computing interconnect management and scheduling capabilities [2] Group 3 - Ascend introduced the CATLASS operator template library, MindIE Motor inference service acceleration library, and inference microservice MIS, enhancing the ease of operator development and application deployment [2] - Continuous upgrades to the layered open CANN capabilities and the MindSpeed RL reinforcement learning suite were announced, improving model training and inference efficiency [2]

Core Viewpoint - The article discusses the challenges faced by Chinese companies in the large model AI sector, particularly regarding the MoE architecture's inherent inefficiencies and high hardware costs. It highlights Huawei's innovative approach to enhance efficiency and user experience through its DeepSeek technology, aiming to create a sustainable collaborative ecosystem in the AI industry [1]. Group 1: Huawei's Technological Innovations - Huawei has introduced three significant hardware affinity operator technologies: AMLA, Fusion Operator Optimization, and SMTurbo, which aim to revolutionize the speed and energy efficiency of large model inference [4][5]. - AMLA (Ascend MLA) redefines floating-point operations, achieving a chip utilization rate exceeding 70% by transforming complex multiplication into simpler addition operations, thus enhancing computational efficiency [7][9]. - Fusion Operator Optimization integrates multiple operators into a single composite operator, optimizing parallelism and eliminating redundant data transfers, leading to significant performance improvements in model inference [11][12]. Group 2: Performance Enhancements - SMTurbo technology enables ultra-low latency memory access across 384 cards, significantly improving memory throughput by over 20% per thread in cross-machine memory communication scenarios [14][16]. - The combination of these technologies positions Huawei's DeepSeek as a competitive alternative to existing solutions, potentially outperforming Nvidia in inference performance [20][22]. Group 3: Future Development Directions - Future research on AMLA will focus on optimizing MLA operators for KVCache quantization and full quantization scenarios, expanding the application of operators [17]. - The exploration of fusion operator optimization will continue, aiming to enhance the efficiency of large language models on Ascend hardware [17]. - Load/Store optimization will be refined to balance read and write loads, integrating the CPP concept into DeepSeek dispatch and combine scenarios for practical benefits at large batch sizes [17].

配置上天选6还采用全新冰川散热系统，搭配第二代Arc Flow绝尘风扇，84外叶片+42内叶片双叶轮设计，更为高效的"内吹技术2.0"及贯穿式后出风设计， 可疾速排出废热，避免内部热量堆积。此外，天选6采用了全新模具设计，高颜值机甲风细节到位，镂空设计还便于热气排出。整机轻约2.2kg，薄至 1.79cm，小轴美背设计一体性更强。 其中天选Air 2025在CPU性能方面，可选锐龙 AI 7 H 350及锐龙7 H 260两款处理器。锐龙 AI 7 H 350采用"Zen 5"架构打造，具备8核心16线程规格，经典核加 速频率可达5.0GHz，集成50 TOPS高算力NPU，为AI计算提供了强大性能支撑。而锐龙7 H 260同样具有8核心16线程，加速频率达5.1GHz，内置Radeon 780M集显，NPU算力达16 TOPS，性能同样出色。 天选Air 2025还搭载全新GeForce RTX 50系列笔记本电脑GPU，采用全新Blackwell架构打造，8GB显存，TGP高达110W。支持DLSS 4全新功能与NVIDIA Studio驱动，针对游戏玩家的Smooth Motion功能可实现驱动级AI插 ...

编译 | 华尔街大事件 基于对NAND市场复苏的预期，分析师于2024年10月给予 Lam Research ( NASDAQ: LRCX ) "强力买入" 评级。相信技术升级周期将继续推动 该公司未来的增长。然而，由于 风险逐渐上升，分析师将其评级下调至"持有"，其合理价值为73美元。 4月23日，Lam Research公布了其 2025财年第三季度 业绩，如下图所示，营收增长24.2%，营业利润增长34.7%。强劲增长的动力源于市场对 其系统（包括用于沉积、蚀刻、清洗和其他晶圆制造的设备）的强劲需求。整体系统收入同比增长26.7%，值得关注。 强劲的系统增长反映了市场对NAND技术驱动的系统升级的强劲需求。正如 财报电话会议 中所强调的，DRAM和代工逻辑客户正在积极升级其 现有系统，以适应更先进的NAND技术，并满足对AI计算和GPU的强劲需求。管理层指出，鉴于Lam Research在先进NAND技术领域的强大市 场地位，系统升级可能会推动其未来的增长。 本季度的另一大亮点是管理层对全球晶圆厂设备 (WFE) 支出充满信心，预计2025财年支出约为1000亿美元。尽管地缘政治风险和关税战不断升 级， ...

点击 上方 硬AI 关注我们 尽管英特尔一季度业绩超预期，但该公司承认这一表现可能只是受到潜在关税实施前客户集中采购的短暂提振，预计其第 二季度展望疲软，公司也宣布将裁员以削减成本和资本开支，使其运营结构更契合当前缩小业务规模的战略。英特尔预计 2025年总体资本开支目标将从200亿美元下调至180亿美元，2026年运营资本开支将进一步降低至160亿美元。受此影 响，英特尔盘后下跌超过6%。 硬·AI 数据中心与AI芯片业务营收： 英特尔第一季度数据中心与AI芯片业务营收为41.3亿美元，高于分析 师预期的29.6亿美元 作者 | 赵雨荷 编辑 | 硬 AI 英特尔试图在新任首席执行官陈立武领导下试图重振业务，但最新财报显示，尽管该公司一季度业绩超预 期，但其第二季度展望疲软，公司也宣布将裁员以削减成本和资本开支，使其运营结构更契合当前缩小业 务规模的战略。受此影响，英特尔盘后下跌超过6%。 以下是英特尔第一季度财报要点： 主要财务数据： 营收： 英特尔第一季度营收126.7亿美元，高于分析师预期的123.1亿美元。 毛利率： 英特尔一季度经调整毛利率为39.2%，相比之下其巅峰时期毛利率超过60% 每股亏损 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant improvement in operational quality and has made notable progress in collaboration with Company N [1][5] - The company's revenue for 2024 is projected to be 4.95 billion yuan, with a slight year-on-year decline of 0.82%, while the net profit attributable to the parent company is expected to reach 858 million yuan, reflecting a substantial year-on-year growth of 390.75% [4] - The company has successfully launched three new chip products, enhancing its technological leadership and providing strong momentum for future growth [6] Financial Summary - The company has adjusted its net profit forecasts for 2025-2026 to 131 million yuan and 188 million yuan, respectively, with a new forecast for 2027 set at 257 million yuan [3] - The earnings per share (EPS) are projected to be 0.65, 0.93, and 1.27 yuan for 2025, 2026, and 2027, respectively [3] - The price-to-earnings (P/E) ratios corresponding to the current stock price are 60.2, 41.8, and 30.6 for the years 2025, 2026, and 2027, respectively [3] - The company achieved a gross margin of 50.12% in 2024, an increase of 6.6 percentage points year-on-year [4] - The company’s revenue is expected to grow significantly in the coming years, with a projected increase of 50.6% in 2025 and 27.5% in 2026 [8][11]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant improvement in operational quality and has made notable progress in collaboration with Company N [1][5] - The company's revenue for 2024 is projected to be 4.95 billion yuan, a slight decline of 0.82% year-on-year, while the net profit attributable to the parent company is expected to reach 858 million yuan, a substantial increase of 390.75% year-on-year [4] - The company has successfully launched three new chip products, enhancing its technological leadership and providing strong momentum for future growth [6] Financial Summary - The company has adjusted its net profit forecasts for 2025-2026 to 131 million yuan and 188 million yuan, respectively, with a new forecast for 2027 set at 257 million yuan [3] - The earnings per share (EPS) are projected to be 0.65, 0.93, and 1.27 yuan for 2025, 2026, and 2027, respectively [3] - The price-to-earnings (P/E) ratios corresponding to the current stock price are 60.2, 41.8, and 30.6 for the years 2025, 2026, and 2027, respectively [3] - The company achieved a gross margin of 50.12% in 2024, an increase of 6.6 percentage points year-on-year [4]