近日，已于上海证券交易所科创板挂牌的龙迅半导体（688486.SH），正式开启其H股IPO进程。 作为一家典型的Fabless（无晶圆厂）芯片设计公司，龙迅半导体专注于集成电路的研发与销售，其产品矩阵牢牢锁定 在智能视频芯片与高速互连芯片两大高增长赛道。据弗若斯特沙利文的报告，在2024年的全球视频桥接芯片市场中， 龙迅半导体以收入计位列全球第五，在中国大陆厂商中拔得头筹。 凭借其在SerDes、高速接口协议处理以及高清音视频处理等方面的核心竞争力，公司正试图从智能视觉终端、智能车 载等传统优势领域，全面跨越至AI与高性能计算（HPC）的星辰大海。 面对半导体行业的周期性波动、复杂的地缘政治环境以及技术范式的演进，龙迅半导体能否凭借其全栈自研的技术底 座，在更广阔的国际资本市场中开创出多模态数据互连的全新格局？ 在A股科技公司纷纷寻求H股"二次上市"以拓展国际资本渠道的浪潮中，又一家半导体领域的明星企业迈出了关键一 步。 业绩稳健增长，构建音视频互连的技术壁垒 智通财经APP了解到，龙迅半导体采用行业主流的Fabless业务模式，该模式使其能够将宝贵的资源高度集中于附加值 最高的研发设计与销售环节，从而保持对 ...

Core Insights - Cipher Mining (CIFR) is advancing its AI and high-performance computing (HPC) expansion through long-term contracts and a rapidly scaling pipeline, reshaping its growth profile [1] Group 1: AI/HPC Expansion - During Q3 2025, Cipher Mining executed two significant AI/HPC transactions, including a 10-year hosting agreement with Fluidstack and a 15-year lease with Amazon Web Services (AWS), securing approximately $8.5 billion in contracted lease payments, with revenues expected to start in 2026 [2][9] - The company has successfully grown its contracted AI hosting capacity from zero to 544 MW in a single quarter, while maintaining a development pipeline of 3.2 GW extending through 2029 and beyond [3][9] Group 2: Revenue Growth and Estimates - AI revenues are anticipated to ramp up primarily from 2026, with a Zacks Consensus Estimate projecting a 15.69% revenue growth for that year, indicating expectations for accelerating contributions from the expanding AI/HPC platform [4] - For the full year 2026, the Zacks Consensus Estimate for loss is pegged at 88 cents per share, remaining unchanged over the past 30 days [14] Group 3: Competitive Landscape - IREN Limited is a competitor with a GPU-centric strategy, building a large-scale GPU cloud platform supported by a $9.7 billion Microsoft contract, aiming for over $500 million in AI Cloud ARR by early fiscal 2026 [5] - TeraWulf is emerging as a competitor through a long-term joint venture with Fluidstack, targeting long-duration contracts valued at $9.5 billion over 25 years, although its capacity expansion is back-end loaded, likely not online before 2026 [6] Group 4: Share Price Performance - Cipher Mining shares have increased by 207.7% over the past six months, significantly outperforming the Zacks Technology Services industry's gain of 20.9%, while the broader Zacks Business Services sector declined by 7.8% [7]

Cipher Mining Inc. (NASDAQ:CIFR) is one of the most active US stocks to buy according to analysts. On December 19, Rosenblatt lowered the firm’s price target on Cipher Mining to $25 from $33, while maintaining a Buy rating on the shares. 2025 has been a difficult year for Bitcoin miners, as high network difficulty collided with a sharp downturn in BTC prices to create a worst-case scenario for profitability. The firm also noted that pure-play miners that are solely focused on crypto face significant financ ...

Core Insights - Super Micro Computer (SMCI) is increasing its internal power capacity to 52 megawatts and aims to scale its rack capacity to 6,000 racks per month, including 3,000 direct liquid cooling racks, to meet rising demand for AI and HPC workloads [1][10] Company Overview - SMCI provides rack-scale compute architecture for large-scale AI training, enterprise AI inference, visualization, content delivery, and AI edge applications, utilizing advanced NVIDIA technologies [2] - The company is establishing new facilities in the United States, Taiwan, Malaysia, the Netherlands, and the Middle East specifically for rack-level production, which is a key component of its data center building block strategy [3] Financial Performance - Despite the increasing demand for rack-scale products, SMCI experienced a revenue decline in the first quarter of fiscal 2026 due to shipment delays caused by a custom rack platform upgrade [4] - The company has nearly tripled its revenues over the past two years, with the Zacks Consensus Estimate for fiscal 2026 revenues projected at $36.5 billion, reflecting a year-over-year growth of 66% [5][10] Competitive Landscape - SMCI competes with Dell Technologies and Hewlett Packard Enterprise in the AI and data center market, both of which are significant suppliers of servers and storage systems [6] - Dell offers solutions like the Integrated Rack 5000 and 7000 Series, while Hewlett Packard Enterprise provides the ProLiant series [7] Valuation Metrics - SMCI's shares have decreased by 34% over the past six months, contrasting with a 65.9% growth in the Zacks Computer – Storage Devices industry [8] - The company trades at a forward price-to-sales ratio of 0.46, which is lower than the industry average of 1.81 [11] Earnings Estimates - The Zacks Consensus Estimate for SMCI's earnings in fiscal 2026 and 2027 indicates a year-over-year increase of approximately 3.58% and 41.5%, respectively, although estimates for fiscal 2026 earnings have been revised downward recently [13]

智通财经APP获悉，据港交所12月22日披露，龙迅半导体(合肥)股份有限公司(简称：龙迅股份(688486.SH))向港交所主板提交上市申 请，中信建投国际为独家保荐人。 | 编纂]的编纂]數目 : | [編纂]股H股(視乎[編纂]行使與否而定) | | --- | --- | | [编纂]數目 : | [编纂]股H股(可予[编纂]) | | [编纂]數目 ። | [编纂]股H股(可予[编纂]及視乎[编纂]行使與 | | | 否向定) | | 最高[编纂] : | 每股[編纂]隔纂]港元,另加1%經紀冊金、 | | | 0.0027%證監會交易徵費、0.00565%聯交所 | | | 交易費及0.00015%會財局交易徵費(須於申 | | | 請時以港元繳足,多繳款項可予退還) | | 面值 : | 每股H股人民幣[1.00]元 | | [编纂] : | 【编纂】 | | 獨家保薦人、[編纂] | | 基于高带宽SerDes方面的技术优势，龙迅股份扩展到更广泛的互连芯片领域。特别是，公司专注于PCIe/CXL/USBRetimer和Switch等 关键互连元件的开发。为满足HPC和AI日益增长的需求，公司的解 ...

All right. So, we're going to talk about Nscale. The company that employs me at the moment.We are a new hyperscaler or neocloud. There are different names for that these days. The unique value proposition that we offer is essentially we're end to end vertically integrated AI stack from the ground to the cloud which sounds very cool.I'm going to talk about mainly about in this slide about the the DC construction kind of part and then in the other slides we'll cover other data parts as well. The resolution co ...

the founding uh quote from Danny Thomas, if you're familiar with Danny Thomas in the 60s was no child should die in the dawn of life. That I think is a mission we can all get behind. It's a it's a statement we can all agree with.And so it's a really amazing organization and as a children's research hospital, we don't really do product endorsements, but we do have a very close collaboration with DDN. They are they are provider of a lot of our equipment. We work with them closely to make sure we're getting th ...

The final thing that was just announced at GTC is our hyper pod solution. So our hyper pod solution is a core data center building block. So it is something where the GPU servers and the storage servers are integrated and delivered at different scaling sizes.So basically t-shirt sizing that you can get from super micro that's a combination of DDN storage infinia storage a cluster of GPUs and this is and this is available in t-arch sizing so that you could go from four GPU servers to 32 GPU servers and we wo ...

Company Growth & Strategy - Super Micro has experienced significant growth, evolving from a sub $1 billion company to a much larger entity due to the rise of AI [1] - Super Micro differentiates itself from tier one vendors by being 100% software-defined, aligning with the trend of startups in the server and storage industries [4] - Super Micro utilizes a building block approach, integrating from motherboard to rack level, and now data center building blocks for AI solutions [5][6][7] Product & Technology Focus - Super Micro offers a diverse storage server portfolio, including large capacity 3.5" drives and high-performance flash storage solutions [9][10] - Super Micro is developing advanced cooling solutions like DLC2, using warm water to improve power efficiency for high TDP components [13] - Super Micro emphasizes the importance of proper cabling and integration for delivering optimal performance at scale, addressing challenges with building block solutions [11][12] Partnership with DDN - Super Micro partners with DDN to deliver solutions, reselling DDN's Exoscale for traditional HPC and integrating with DDN's Infinia platform, a software-defined solution [14][15] - Super Micro and DDN have a strong relationship, cemented by a large AI cluster project [7] - Super Micro and DDN offer a hyper-pod solution, a core data center building block with integrated GPU and Infinia storage, available in various sizes from 4 to 32 GPU servers [16][17]

Hey everybody, Ethan Sloan with SanDisk. We're going to talk a little bit about SanDisk DDN powering the next generation of AI and HBC. Nobody's talked AI here, so this will be the first one, right.Obviously, a little bit about me. So, at SanDisk, enterprise solid state drive representation, helping to fuel the uh the channel. So the goal today is to answer questions with regards to who, what, where, why, when, and how.The who part is who am I. Ethan just introduced myself. Let's get into the what.Right. So ...