《中国经营报》记者注意到，消息公布后，英特尔、英伟达股价连续两日持续上涨。截至12月19日收 盘，英特尔股价报收于36.82美元每股，近半年上涨74.67%；而英伟达股价报收于180.99美元每股，市 值达4.40万亿美元。 市场人士多认为，FTC的放行为这个被业界视为"芯片行业历史性联姻"的交易扫清了一道关键的监管障 碍。此举不仅将加速两家公司联合开发的下一代AI芯片落地，更将在中美科技博弈加剧的背景下，深 刻影响全球半导体产业链格局。 50亿美元押注：一场精密计算的战略合谋 根据双方于2025年9月18日公布的协议，英伟达将以每股23.28美元的价格认购英特尔新发行的普通股， 总投资额约50亿美元，获得接近4%的股权。 尽管持股比例并不高，但合作内容或远超财务投资范畴——双方将共同开发基于x86架构的定制化 CPU，并通过英伟达主导的NVLink高速互连技术与GPU深度集成，打造面向数据中心和AI PC的新一代 异构计算平台。 更引人注目的是，该合作几乎与美国政府动作无缝衔接。2025年8月，美国商务部与财政部依据《芯片 与科学法案》，以89亿美元注资英特尔，获得9.9%股份，实质上将其纳入"半国家化"轨 ...

Core Insights - The 2025 Bay Area Semiconductor Industry Ecological Expo ("Bay Chip Expo") will be held from October 15 to 17 in Shenzhen, aiming to create a platform for deep integration of the semiconductor industry chain, supply chain, and value chain [1][2] - The expo will feature over 600 participating companies and an exhibition area exceeding 60,000 square meters, significantly larger than the previous year's 40,000 square meters and 400 companies [1][2] Marketization - The expo will introduce high-end forums such as the International Lithography Conference and Chip Academic Conference, providing customized one-on-one matchmaking services to enhance participation and collaboration [2] Cutting-edge Technology - The expo will include four core exhibition areas: wafer manufacturing, advanced packaging, compound semiconductors, and chip design, along with three special exhibition areas focusing on AI chips, RISC-V ecosystem, and Chiplet technology [2] Internationalization - The event will attract over 600 leading companies and institutions from more than 20 countries, featuring international professional forums to promote global collaboration in the semiconductor industry [2] Branding - The expo will implement a comprehensive resource integration service mechanism combining online, exhibition, and offline elements to enhance the influence of China's semiconductor brands [2] Industry Highlights - The expo will showcase significant projects and innovations from leading companies, with participation from over 5,000 professional buyers from top firms like BYD, Foxconn, DJI, and Yangtze Memory Technologies [3] - The event will also announce the "2024 China Chip Science Top Ten Advances" and launch a 5 billion yuan Shenzhen Semiconductor Industry Investment Fund [3] Regional Development - Longgang District will establish a semiconductor industry cluster covering 138 hectares, aiming to create a high-quality environment for innovation and talent development [4] - As of mid-2025, Longgang's semiconductor and integrated circuit industry has expanded to 215 companies, forming a scale of over 100 billion yuan [4]

Group 1 - The Shanghai RISC-V Ecological Block was officially launched at the 2025 RISC-V China Summit, aiming to gather more upstream and downstream enterprises and talents in the RISC-V industry chain to promote technological research, development, and application [1] - The chairman of Zhangjiang Hi-Tech, Liu Ying, highlighted three main initiatives: accelerating the introduction of edge-side enterprises to expand application boundaries, promoting standardization to form scale effects, and improving public service platforms to provide innovative technological support [1] - The initiative will focus on various fields including consumer electronics, industrial control, intelligent computing, smart vehicles, and satellite internet [1]

Core Viewpoint - The recent policies introduced in Guangzhou, Zhuhai, and Shanghai reflect China's determination and action to accelerate breakthroughs in the semiconductor industry, emphasizing the importance of the integrated circuit sector for national technological self-reliance and competitiveness [1][9]. Guangzhou - Guangzhou aims to establish itself as a core area for China's integrated circuit industry, focusing on high-quality development through various measures, including enhancing chip design capabilities and supporting domestic production of core design tools [2][5]. - The policy includes financial support for companies developing high-end chips, with subsidies up to 5 million yuan for specific design projects [3]. - Measures also promote the localization of essential semiconductor materials and equipment, with subsidies for fixed asset investments exceeding 10 million yuan [4]. Zhuhai - Zhuhai has introduced ten measures to support the high-quality development of the semiconductor and integrated circuit industry, focusing on areas such as factory acquisition and advanced packaging [6][7]. - The policies encourage the development of the RISC-V ecosystem, with financial rewards for product development and sales achievements, aiming to foster innovation in key technology areas [6][7]. - The establishment of the RDSA industry alliance and the RISC-V application innovation center in Zhuhai highlights the city's commitment to building a robust RISC-V ecosystem [7]. Shanghai - Shanghai is enhancing its semiconductor industry by implementing a comprehensive strategy that focuses on the entire supply chain, from design to manufacturing and testing [8]. - The city plans to leverage a 100 billion yuan fund to support the development of the semiconductor sector, with a projected industry scale exceeding 390 billion yuan by 2024, marking a growth of over 20% [8]. - Recent initiatives include the establishment of a semiconductor materials laboratory and policies to support wide-bandgap semiconductor development, aiming to create a conducive environment for innovation and industry growth [9]. Overall Implications - The coordinated policies from Guangzhou, Zhuhai, and Shanghai collectively aim to enhance China's self-sufficiency and advancement in the semiconductor industry, fostering a competitive edge in the global market [9].