本文转载自芯东西，作者：程茜 非GPU芯片势力崛起已势不可挡。 近期， 上海GPU龙头沐曦股份在上交所科创板敲钟，开盘价为700.00元/股，截至午间休市股价大 涨687.79%，总市值达到3298.82亿元， 将全球算力产业的竞争推向全新高度。 近一段时间以来， 全球算力产业都处于重磅事件密集爆发期 。 海外，非GPU赛道的谷歌TPU狂揽千亿级订单，在GPU垄断的算力市场撕开缺口，上周博通CEO爆 料Anthropic向博通下总计210亿美元（折合人民币约1486亿元）订单，还叠加Meta等科技巨头的采 购意向；GPU层面，因害怕失去中国市场，美国批准英伟达H200 AI芯片对华出售。 反观国内，算力产业热度同样持续攀升，北京AI芯片明星企业清微智能拿下超20亿元大额融资，背 后是业界少见的投资阵容。此外还有国内AI芯片创企密集披露并购、上市计划，本土算力生态加速 成型。 上述海内外算力产业的密集动向，共同指向一个不可逆的行业变革： 全球算力市场长期由英伟达 GPU垄断的市场格局正在松动。 在大模型发展初期，市场对通用算力的强需求让英伟达GPU迅速占据绝对主导地位，几乎形成"无 GPU不训练"的行业局面。 ...

技术与市场的双重突破是清微智能获得资本青睐的关键。公司核心产品TX系列芯片基于自主研发的可 重构计算架构，在端边云多元场景中展现出显著竞争优势，能效比相比同行产品提升3倍，整体成本降 低50%。目前公司已形成TX5和TX8两大系列十多款芯片，覆盖智能安防、智能制造、智算中心、自动 驾驶等多元场景，在全国十余座千卡规模智算中心完成规模化部署，覆盖浙江、北京、安徽、内蒙古等 多地，累计获得可重构算力卡订单超2万张，可重构芯片总出货量突破3000万颗，服务客户包括国网、 阿里、商汤、腾讯、华为、中移动等行业巨头，构建起从技术到市场的强力闭环。 行业地位上，据IDC最新数据显示，2025年上半年清微智能在国产非GPU（含可重构新架构及AISC）加 速卡销量中位列第六名，成功跻身国产算力第一梯队，在"国产替代"浪潮中，为国内芯片产业发展增添 重要力量。 国内"非GPU"AI芯片领域迎来里程碑事件。近日，可重构计算芯片领军企业清微智能宣布完成超20亿元 人民币C轮融资，并已启动上市筹备工作。本轮融资由北京市属国企京能集团领投，北创投、建投投 资、武岳峰科创等15家机构跟投，京国瑞、中关村科学城公司、商汤国香资本等7家老股 ...

在11月刚刚落幕的"2025集成电路发展论坛（成渝）暨三十一届集成电路设计业展览会"（ICCAD-Expo 2025）上，清微智能创始人、董事长兼CEO王博从众 多杰出企业家中脱颖而出，荣获本届大会唯一颁发的中国"IC设计业年度企业家"称号，这也是当届唯一获此殊荣的企业家。 十四载仅九人登榜，一席难求的行业至誉 本届ICCAD-Expo以"开放创芯，成就未来"为主题，吸引了来自全球的2000余家集成电路产业链上下游企业，以及超过6300位行业专家齐聚成都。作为中国 集成电路设计领域规格、影响力都为独一档的行业盛会，ICCAD-Expo不仅是技术趋势与产业合作的风向标，更是行业荣誉的权威发布平台。 其中，"IC设计业年度企业家"奖项自设立以来，始终是全场瞩目的焦点。该奖项由中国半导体行业协会集成电路设计分会发起并主导评审，旨在表彰在技 术创新、产业推动和战略引领等方面作出突出贡献的企业掌舵人。因其坚持"宁缺毋滥"的原则，评审过程不仅考察候选人的技术前瞻性与商业成就，更注重 其对国产芯片生态的长期价值与实际带动效应，因而以标准之高、门槛之严、程序之慎而闻名业界。 自该奖项2012年设立至今的14届评选中，仅有9位 ...

Core Insights - Qingwei Intelligent, an AI chip company based in Beijing, has completed a C-round financing of over 2 billion RMB, led by Beijing state-owned enterprise Jingneng Group, with participation from various investors [1] - The financing will focus on the development of next-generation reconfigurable chips, large-scale implementation of intelligent computing scenarios, and the recruitment of high-end talent [1] - The company has initiated preparations for an IPO [1] Group 1 - Qingwei Intelligent is recognized as a leading domestic developer of "non-GPU" AI chips, with its reconfigurable chip technology rooted in advanced research from Tsinghua University [1] - The unique architecture allows for dynamic and real-time reconfiguration of hardware resources to create optimal computing pathways, balancing the versatility of GPUs and the efficiency of ASICs, resulting in a 50% reduction in overall costs and a threefold increase in energy efficiency [1] - The company has already mass-produced over ten high-efficiency intelligent computing chips in the TX5 and TX8 series, targeting intelligent computing scenarios such as intelligent computing centers, large models, and autonomous driving [2] Group 2 - Qingwei Intelligent has established partnerships with various AI innovation institutions and co-founded the "Beijing Reconfigurable Computing Software and Hardware Collaborative Technology Innovation Center" [2] - The CEO of Qingwei Intelligent emphasized the importance of independent innovation in developing reconfigurable computing as a path for China's AI chip industry [2] - The company's reconfigurable AI chips have been implemented in over ten large-scale intelligent computing centers across the country, with projected orders exceeding 20,000 units by 2025 and total shipments of over 30 million chips [2]

Core Insights - Qingwei Intelligent, a leading AI chip company in Beijing, announced the completion of over 2 billion RMB in Series C financing and initiated preparations for an IPO, aiming to become the first listed benchmark in the domestic "non-GPU" new architecture chip sector [1][4] Financing and Investment - The financing round was led by Beijing state-owned enterprise Jingneng Group, with participation from multiple institutions including Beichuang Investment, Jiantou Investment, Wuyuefeng Science and Technology Innovation, and Chengdu Science and Technology Investment, among others [3] - The funds will focus on three main areas: R&D of next-generation reconfigurable chip core technologies, large-scale implementation of intelligent computing scenarios, and the cultivation of high-end technical talent [3] Technology and Product Development - Qingwei Intelligent has developed a unique non-GPU technology path, leveraging 20 years of technical accumulation from Tsinghua University [3] - The TX81 reconfigurable AI chip achieves high bandwidth and low latency data flow through "C2C computing grid technology," with a single server's computing power reaching 4 PFLOPS, supporting trillion-parameter large model deployment, reducing costs by 50%, and improving energy efficiency by three times compared to traditional solutions [3] - The company has adapted its products to mainstream large models and has received over 20,000 orders for reconfigurable computing cards, ranking sixth in domestic AI acceleration card shipments in the first half of 2025 [3] Leadership and Market Position - The founder and CEO, Wang Bo, was recently awarded the title of "Annual Entrepreneur of the IC Design Industry in China 2025," recognized for his strategic vision in promoting the localization of new architecture AI chips [4] - The simultaneous advancement of financing and IPO preparations is seen as a dual validation of the company's technological accumulation and commercial achievements [4] Industry Impact - The IPO preparations are expected to empower the company with capital and set an industry benchmark for the non-GPU sector, promoting the ecological development of reconfigurable computing technology [4] - With steady progress in funding and the IPO process, the company is poised to further break through core technologies for the next generation of chips and deepen the implementation of intelligent computing scenarios, providing robust and controllable computing power for the digital economy [4]

Core Insights - The 2025 Integrated Circuit Development Forum (ICCAD-Expo) held in Chengdu highlighted the optimistic sales forecast for China's chip design industry, projecting sales to exceed $100 billion for the first time by 2025, indicating a return to high growth [1][3] - The event gathered over 2,000 renowned companies in the integrated circuit industry, including major players like Samsung, Siemens, and TSMC, showcasing the latest technologies [1][3] - The forum emphasized the significant growth potential of non-GPU AI chips, with projections indicating that the market share of reconfigurable chips in non-GPU server markets will reach 30% by mid-2025 and grow to 50% by 2028 [3][5] Industry Developments - The theme of this year's ICCAD-Expo was "Open Innovation, Achieving the Future," attracting over 6,300 industry experts to discuss the development trends of the integrated circuit industry [3] - The Chinese semiconductor industry is expected to experience a new wave of growth, potentially reaching a scale of 1 trillion yuan by 2030, driven by advancements in AI and other new technologies [3][5] - Clear Micro Intelligence, a domestic reconfigurable computing chip company, presented insights on the strategic development opportunities in the non-GPU chip architecture during the forum [5][6] Company Highlights - Clear Micro Intelligence's CEO, Wang Bo, was awarded the "2025 IC Design Annual Entrepreneur" title for his strategic vision and commitment to promoting the localization of new AI chip architectures [6][10] - The company has successfully mass-produced the TX81 chip, which is designed for large-scale AI applications, achieving a 50% cost reduction compared to competitors and a threefold increase in energy efficiency [6][7] - Since the mass production of its products, Clear Micro Intelligence has established large-scale intelligent computing clusters across multiple regions in China, with over 20,000 orders for reconfigurable computing cards [7]

Core Viewpoint - Qingwei Intelligent and Zhongbei Communication have signed a strategic cooperation agreement to deepen collaboration on reconfigurable computing chips and full-stack solutions [1] Company Summary - Qingwei Intelligent is a leading company in reconfigurable computing chips, originating from Tsinghua University [1] - The TX series chips developed by Qingwei Intelligent utilize a self-developed reconfigurable computing architecture, achieving a 3x improvement in energy efficiency compared to peer products and a 50% reduction in overall costs [1] Industry Summary - The collaboration aims to create a comprehensive AI computing power solution that spans from chips to clusters and from hardware to software [1]

Core Insights - The 2025 CPSE Security Expo showcased the latest advancements in AI technology, with Qingwei Intelligence presenting its new "chip matrix" and "full-stack" products, attracting significant attention from attendees [1][3] - Qingwei Intelligence won the "Top Ten Brand Award" at the expo, highlighting its leadership in the domestic AI computing sector and its contributions to digital city and security applications [3][8] - The company is positioned at the forefront of the emerging Edge AI 2.0 era, focusing on reconfigurable computing technology to enhance AI capabilities across various industries [4][6] Product Developments - Qingwei has successfully mass-produced cloud computing chips (TX8 series) and high-efficiency edge computing chips (TX5 series), providing comprehensive solutions for diverse scenarios [6] - The newly launched Zhiyuan Algorithm Training Platform features lightweight, high-accuracy, and high-security characteristics, enhancing applications in smart security and industrial inspection [6][7] - The TX5326 AI SoC product integrates advanced AI technologies and supports the deployment of large AI models, significantly improving performance for edge AI applications [7] Market Trends - The global edge AI market is projected to grow from $27.01 billion in 2024 to nearly $270 billion by 2032, with a compound annual growth rate (CAGR) of 33.3% [4] - The shift in focus for AI computing power is moving from hardware improvements to innovative architectures and algorithms, indicating a transformation in the industry landscape [4] Strategic Positioning - Qingwei Intelligence has established itself as a leader in the AI computing sector, with over 30 million reconfigurable chips shipped, emphasizing its commitment to domestic innovation and self-sufficiency [10][12] - The company's advancements in AI technology are seen as crucial for overcoming challenges in China's foundational computing capabilities, as highlighted by industry experts [10]

Group 1 - The 2025 China Computing Power Conference was successfully held in Datong, Shanxi, organized by the Ministry of Industry and Information Technology, focusing on enhancing computing power infrastructure and technological innovation in the industry [1] - Beijing Qingwei Intelligent Technology Co., Ltd. showcased its reconfigurable computing chip technology at the conference, emphasizing its ability to achieve high performance without relying on advanced processes [1][2] - The conference attracted major industry players, including three major domestic telecom operators, Huawei, and Lenovo, fostering discussions on long-term industry development [1] Group 2 - Qingwei Intelligent's reconfigurable chips are already in use in various smart computing center projects across multiple provinces in China, supporting high computing power demands in areas such as government cloud and industrial internet [2] - Qingwei Intelligent is collaborating with Zhongbei Communication Group to integrate reconfigurable computing technology into computing network construction, promoting the domestic production process across the entire chain from chips to servers to computing clusters [2] - The company is planning two "Reconfigurable Smart Computing Centers" in Shanxi Province to accelerate the transformation of cutting-edge technology into actual industrial momentum [2]

Group 1 - The emergence of DeepSeek has accelerated the global AI industry as of early 2025, highlighting the importance of computing power and large models as core foundations of the industry [1] - The AI computing power and large model sector is becoming increasingly competitive, with many entrants leading to a "hundred models battle" and "thousand chips battle," creating a red ocean market [1][2] - Tsinghua University-affiliated company Zhipu has initiated its IPO with a valuation exceeding 20 billion, marking it as the highest-valued startup in the domestic large model sector [1][4] Group 2 - The new generation of reconfigurable chips is seen as a critical technology for China to achieve "high-level domestic substitution" in the AI field, allowing for a leapfrog development strategy [2][3] - Reconfigurable chips can rapidly adapt to various computing needs, offering high energy efficiency, scalability, and flexibility, which are essential characteristics for modern AI applications [2] - The State Council's 2017 AI development plan emphasizes breakthroughs in high-efficiency, reconfigurable brain-like computing chips as a key technology for the new generation of AI [2] Group 3 - Qingwei Intelligent is the only domestic AI company utilizing a new generation chip architecture for high-level domestic substitution, with its core team originating from Tsinghua University's Integrated Circuit Institute [3][4] - Qingwei Intelligent has achieved significant milestones, including the mass production of the world's first commercially viable reconfigurable chip within a year of its establishment in 2018 [4] - The company has accumulated over 20 million units of reconfigurable chips shipped and nearly 20,000 orders for computing power cards, demonstrating successful commercialization [6] Group 4 - The Chinese government is focusing on strengthening AI development and regulation, emphasizing the need to seize opportunities and enhance foundational research in high-end chips and core technologies [5] - Qingwei Intelligent's commitment to original chip architecture positions it as a leader in the domestic chip industry, aiming to reduce reliance on foreign technologies [6][7] - The value of reconfigurable chips is becoming increasingly significant, not only in commercial terms but also as a strategic asset in national computing power sovereignty [7]