如果你正在寻找一款能够运行本地AI推理或对中小规模模型进行微调的工具，那么Tenstorrent的 QuietBox可能并不适合你。我们预计这种情况会有所改变，但就目前而言，该公司的软件栈对于大 多数本地AI爱好者来说还不够完善。 然而，对于有兴趣探索 Tenstorrent 的硬件架构和软件栈的机器学习软件开发人员，或者那些希望在 生产中部署这家初创公司芯片的开发人员来说，像 Blackhole QuietBox 这样的系统提供了一个相对 低成本的切入点，可以进入该公司基于 RISC-V 的加速器生态系统。 TT-QuietBox 开箱 提到人工智能基础设施，Tenstorrent 可能不是人们首先想到的名字。但与众多争夺风险投资和英伟 达市场份额的人工智能芯片初创公司不同，Tenstorrent 的芯片实际上已经走出了实验室。 如果您有点特立独行，想要打破常规，Tenstorrent 的组件和系统随时可供任何有需要的人使用。事 实上，您或许会惊讶地发现，该公司已经推出了三代基于 RISC-V 的加速器，旨在为开源社区积蓄力 量。 他们的理念是提供性能合理的加速器，能够高效地从单卡扩展到 32 芯片系统甚至 ...

格隆汇11月27日丨振华风光(688439.SH)在投资者互动平台表示，公司始终坚持技术创新与市场需求相 结合的发展策略，通过优化资源配置和提升研发效率来平衡研发投入与短期业绩表现。公司重点布局信 号链、电源管理、RISC-V MCU及射频微波等方向，并通过"新产品、新客户、新领域"策略挖掘增量市 场。关于新产品进展：RISC-V MCU：公司从2022年6月开始布局RISC-V架构MCU，截止2025年11月已 完成2款MCU产品的研发，均通过用户端的软、硬件适配验证，已具备量产能力，订单稳步增长。受 RISC-V生态的影响，行业需要一定的学习周期和适应周期来形成规模化应用，公司坚持看好RISC-V的 市场发展。高速高精度运算放大器：突破高压轨到轨增强技术，实现宽动态范围、低输入偏置等关键指 标提升。市场反馈与量产计划：前述产品已通过用户试用，但受行业需求调整影响，尚未形成批量订 单。公司正通过专项团队拓展商业航天、无人机等新兴领域，其中抗辐照新品已有多款进入小卫星选用 目录。 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4][8]. Core Insights - The company is a leading domestic AIOT enterprise based on the RISC-V instruction set, maintaining a leading net profit margin in the industry. It has developed a range of high-performance CPU cores and various functional module IPs, including Bluetooth and audio chips, which are widely used in wireless interconnected terminals [4][14]. - The company has experienced significant revenue growth, with a compound annual growth rate (CAGR) of approximately 18.36% from 2020 to 2024, driven by its competitive pricing strategy and expansion into emerging markets [4][44]. - The global TWS earphone market is expected to grow significantly, with a projected CAGR of 34.88% over the next eight years, benefiting the company as it captures a substantial market share [4][8]. - The company is diversifying its AIOT product offerings, including smart wearables and wireless microphones, and is well-positioned to capitalize on the industry's growth [4][5]. Summary by Sections Company Overview - The company is a leading integrated circuit design firm focused on wireless audio SoC chips, established in 2016 and listed on the STAR Market in 2022. It has developed a product architecture consisting of ten product lines, including Bluetooth earphone chips and AIoT chips [14][21]. Product Structure - The company has a diverse product structure with a focus on Bluetooth earphone chips (59% of revenue), Bluetooth speaker chips (21%), and smart wearable chips (7%) for 2024. The product range is expanding to meet various market demands [4][28]. Financial Performance - The company's revenue is projected to reach 20.02 billion yuan in 2025, with a net profit of 3.17 billion yuan. The net profit margin has remained above 13%, indicating strong cost control and operational efficiency [6][44][49]. Market Opportunities - The global TWS earphone market is projected to reach approximately $51.4 billion in 2022, with significant growth expected in the coming years. The company is well-positioned to benefit from this trend due to its strong market presence and product offerings [4][8]. Competitive Position - The company maintains a competitive edge through its proprietary RISC-V architecture, which allows for cost savings and flexibility in chip design. This positions the company favorably against competitors in the AIOT space [17][49]. Future Outlook - The company is expected to continue its growth trajectory, with revenue forecasts of 24.11 billion yuan in 2026 and 29.65 billion yuan in 2027, reflecting a robust market demand for its products [6][8].

AIoT 生态持续扩张，智能家居与 AI 端侧双 引擎驱动成长 买入（首次） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,433 | 2,007 | 2,679 | 3,487 | 4,463 | | 同比（%） | 12.74 | 40.04 | 33.50 | 30.15 | 27.97 | | 归母净利润（百万元） | 136.20 | 339.32 | 542.28 | 809.47 | 1,045.70 | | 同比（%） | 39.95 | 149.13 | 59.81 | 49.27 | 29.18 | | EPS-最新摊薄（元/股） | 0.81 | 2.03 | 3.24 | 4.84 | 6.26 | | P/E（现价&最新摊薄） | 192.80 | 77.39 | 48.42 | 32.44 | 25.11 | 乐鑫科技（688018） 2025 年 11 月 26 日 证券分析师 陈海进 执业 ...

Core Insights - RISC-V is rapidly emerging as a key player in the semiconductor industry, with projections indicating a market penetration rate of 25% for RISC-V-based chip solutions by 2025 and an expected unit count exceeding 20 billion by 2031, generating IP revenues of $2 billion [1] - The overall market penetration of RISC-V is anticipated to surge from 2.5% in 2021 to 33.7% by 2031, covering various industry sectors [1] - Zhuhai is positioning itself as a significant hub for RISC-V technology, transforming the entire city into a "testbed" for RISC-V applications [1][2] Zhuhai's Strategic Initiatives - Zhuhai has established the RDSA industry alliance, the world's first DSA (Domain-Specific Architecture) innovation cooperation organization based on RISC-V, to foster collaboration among leading companies and institutions in the semiconductor sector [2] - The city is developing a national-level RISC-V ecological innovation center, the Guangdong-Hong Kong-Macao Greater Bay Area RISC-V Open Source Ecological Development Center, to enhance its industrial ecosystem [3] - Zhuhai's semiconductor industry is robust, with a revenue of approximately 18.49 billion yuan in 2024, ranking third in the province and showing a year-on-year growth of 16.1% [4] Ecosystem Development - The city is focusing on integrating industrial innovation, technological advancement, and application scenario innovation to create a modern industrial system with distinct Zhuhai characteristics [4] - Zhuhai is actively promoting the development of various cutting-edge sectors, including brain-like intelligence and low-altitude economy, to seize future industrial opportunities [5] - The RISC-V architecture is seen as a critical technology direction supported by national policies, particularly in the context of emerging industries [5] Scene Innovation as a Competitive Edge - Zhuhai is leveraging its integrated circuit industry foundation and talent pool to establish RISC-V as a core driver of new productivity [6] - The city has opened over 20 high-value urban application scenarios to facilitate the practical implementation of RISC-V technology [6] - The approach of "demand-driven technology, technology feeding back to scenarios" is being adopted to create a virtuous cycle in the RISC-V ecosystem [7] Collaborative Efforts and Future Outlook - The collaboration among innovation hubs like Beijing, Xiong'an, Zhuhai, Suzhou, and Chengdu aims to promote RISC-V technology in various applications, including smart connected vehicles and data centers [8] - RISC-V is positioned as a key force in reshaping the global semiconductor landscape, particularly in the AI era, with expectations of significant growth in chip shipments by 2030 [9] - The establishment of strategic partnerships, such as the one between the China Electronics Standardization Institute and the Brazilian Semiconductor Industry Association, aims to enhance global interoperability within the open-source ecosystem [10]

如果您希望可以时常见面，欢迎标星收藏哦~ 来 源 ： 内容来自半导体芯闻综合 。 针对某近期出版新书的新闻,ASML发表声明称： 点这里加关注，锁定更多原创内容 *免责声明：文章内容系作者个人观点，半导体芯闻转载仅为了传达一种不同的观点，不代表半导体芯闻对该 观点赞同或支持，如果有任何异议，欢迎联系我们。 10万亿，投向半导体 芯片巨头，市值大跌 黄仁勋：HBM是个技术奇迹 Jim Keller：RISC-V一定会胜出 推荐阅读 全球市值最高的10家芯片公司 ASML注意到近期一本以荷兰语出版、聚焦公司内容的新书引发了媒体关注。ASML不认可该书的 内容。 在该书出版前，我们已通过书面形式明确告知作者，书中多处陈述存在严重不实，并对ASML声誉 造成损害。我们保留采取进一步行动的权利。 书中任何关于ASML曾向任何政府提出"代其行事"的所谓提议，均与事实不符并具有严重误导性。 同样，任何声称ASML有意或曾经有意违反荷兰、美国或任何其他政府相关协议的说法，也均不属 实。 ASML始终遵守所有适用于其业务经营的法律法规，并在相关出口管制规定范围内开展业务。 全球市值最高的10家芯片公司 喜欢我们的内容就点 "在 ...

近日，在2025龙蜥操作系统大会（OpenAnolis Conference）上，中国智能计算产业联盟正式发布《国产服务器操作系统发展报告（2025）》（以下简称 为"报告"）。 会上，龙蜥社区发布龙腾计划3.0——AI引擎生态加速合作计划，标志着龙蜥社区在推动操作系统与AI技术创新融合、以及利用AI驱动上下游产业合作 变革方面迈出了重要的一步。 报告显示，在用户企业当前使用的服务器操作系统中，龙蜥生态相关社区版和商业版的市场占比近 50%，装机量已突破1000万。在国产操作系统迁移 意愿方面，龙蜥操作系统的吸引力最高，用户意愿迁移至龙蜥生态社区版和商业版的比例为54.25%，占比第一。 在过去一年中，龙蜥社区在RISC-V领域取得双突破：软件生态方面，联合达摩院、中兴、浪潮、中国科学院软件所等机构制定RISC-V SIG 2.0规划，并 携手中兴、达摩院、浪潮、如意社区等伙伴首次发布支持RVA23高性能扩展的Anolis23 RISC-V预览版，包含适配内核、工具链及1300+软件包，推动RISC-V 向数据中心级应用演进。国际标准化方面，社区专家在RISC-V国际基金会担任主席/副主席要职，主导Data ...

Core Viewpoint - The semiconductor industry faces high barriers to entry, significant investment, and long R&D cycles. Companies often choose between quickly launching products based on mature foreign technologies or investing more in R&D for independent innovation. Qinheng Microelectronics has opted for a slower, more deliberate approach, focusing on foundational IP development before chip production, reflecting a strategic wisdom of "slow for fast" in domestic chip innovation [1][3][10]. Group 1: Long-term Strategy - Qinheng has been dedicated to foundational technology research, developing its self-researched Qinkai RISC-V processor IP since 2018, with USB interface IP development taking even longer. This deep and steady approach has allowed Qinheng to master core technologies in MCU and interface chips, ensuring technological independence, supply chain security, and rapid market response [3][5]. - The Qinkai series has expanded from low-power small cores to high-performance large cores, achieving over a billion units in sales in recent years, indicating a shift to a faster growth trajectory [3][5]. Group 2: Performance and Product Development - The focus on core IP development has led to significant product performance improvements. The Qinkai V5F processor has achieved a performance of 5.73 CoreMark/MHz, surpassing Arm's high-end M7 processor. The integration of Qinkai processors with self-developed high-speed USB, Ethernet, and Bluetooth technologies has resulted in a diverse range of low-power, high-functionality MCU/SoC products [5][9]. - Qinheng has introduced the "RISC-V full family bucket," which includes a vertical chain from core IP to chips and tools, significantly lowering the technical barriers for developers transitioning to RISC-V and accelerating time-to-market for end products [7][9]. Group 3: Market Impact and Future Outlook - Qinheng's success with the Qinkai RISC-V has challenged the notion that fully independent technology cannot be profitable, demonstrating that strong technical capabilities can translate into product features and market competitiveness. This approach fosters a virtuous cycle of business growth and technological innovation [9][10]. - The current landscape positions RISC-V as a strategic pillar for China in mastering core processor technologies. The "slow for fast, foundational first" development model is crucial not only for individual companies but also for the sustainable growth of the entire Chinese semiconductor industry [10].

在过去一年中，龙蜥社区在RISC-V领域取得双突破：软件生态方面，联合达摩院、中兴、浪潮、中国 科学院软件所等机构制定RISC-V SIG 2.0规划，并联合中兴、达摩院、浪潮、如意社区等伙伴首次发布 支持RVA23高性能扩展的Anolis23 RISC-V预览版，包含适配内核、工具链及1300余款软件包，推动 RISC-V向数据中心级应用演进。国际标准化方面，社区专家在RISC-V国际基金会担任主席/副主席要 职，主导Data Center SIG（RISC-V国际基金会下的一个技术工作组，专注于推动RISC-V架构在数据中 心领域的标准化和应用）运作，推进RAS/PMU云方案增强、AIOE扩展及虚拟化标准制定，参与全球标 准建设。 "面对'云+AI'催生的操作系统新纪元，我们将推动龙蜥与通义大模型、魔搭社区等阿里AI开源体系深度 融合，让龙蜥成为中国操作系统走向世界的名片。"阿里巴巴集团合伙人、阿里云智能集团基础设施事 业部负责人蒋江伟说。 来源：北京日报客户端 转自：北京日报客户端 11月17日，在2025龙蜥操作系统大会上，中国智能计算产业联盟发布《国产服务器操作系统发展报告 （2025）》。报告显示 ...

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