格隆汇9月18日丨鼎信通讯(603421.SH)在投资者互动平台表示，公司芯片开发采用平头哥的CK802 32位 内核架构，平头哥与公司签订有全面技术授权协议。 ...

Core Insights - Oracle projected its cloud infrastructure revenue to reach $144 billion over the next five years, supported by non-cancellable contracts [1] - Despite Oracle's optimistic outlook, it faces challenges such as a heavy debt load and significant capital expenditures required to realize this revenue [2] - Major cloud providers like Amazon, Microsoft, and Alphabet have opted not to pursue this opportunity, allowing Oracle to build data centers for them instead [3] Company Analysis Oracle - Oracle's stock surged following the revenue projection, but the company is not expected to be the primary beneficiary of its own cloud computing push due to financial constraints [2] - The uncertainty surrounding the economics of the projected revenue raises questions about Oracle's ability to capitalize on this growth [3] Nvidia - Nvidia holds a dominant position in AI infrastructure, with a 94% market share in the GPU market and a 56% increase in data center revenue to $41.1 billion [6] - The company has established a competitive advantage through its CUDA software platform and NVLink interconnect system, which enhances the performance of its GPUs [7][8] - Nvidia is expected to benefit significantly from Oracle's data center projects due to its close relationship with the company [9] Broadcom - Broadcom is positioned to benefit from Oracle's spending as customers seek to diversify their AI processing capabilities beyond Nvidia [10] - The company has been instrumental in developing custom chips for AI workloads, with a serviceable market opportunity estimated between $60 billion to $90 billion by fiscal 2027 [12] - OpenAI, a key customer for Oracle, is anticipated to utilize Broadcom's custom AI chips alongside Nvidia's GPUs, presenting a substantial growth opportunity for Broadcom [13]

Core Insights - The semiconductor sector is experiencing significant momentum, with the Shanghai Composite Index targeting 3900 points and the ChiNext Index rebounding strongly, driven by key players like Cambrian, North Huachuang, SMIC, and Haiguang Information reaching new highs [1] Group 1: Market Performance - The semiconductor ETF surged by 5.9%, while the largest chip ETF increased by 4.48%, reflecting strong investor interest in the sector [1] - The market saw a net inflow of 136 million in the Sci-Tech Semiconductor ETF, which rose by 5.9% after a previous increase of 3.6% [2] Group 2: Industry Catalysts - Recent developments include Alibaba and Baidu utilizing self-developed chips for AI model training, which has heightened market attention on the chip sector [1] - Alibaba's self-developed AI chip was featured on CCTV's "News Broadcast," reportedly matching key parameters of NVIDIA's H20 chip and surpassing the A800 chip [1] - Tencent announced the full opening of its AI capabilities, adapting to mainstream domestic chips [1] - Huawei's rotating chairman emphasized the importance of computing power for AI and revealed future plans for its Ascend chips [1] - The Federal Reserve's recent 25 basis point rate cut and China's strong performance in AI technology and biomedicine have attracted renewed interest from overseas investors [1] Group 3: Notable Products - The largest chip industry ETF, covering the entire semiconductor value chain, includes leading companies such as SMIC, Cambrian, Haiguang Information, North Huachuang, and Shengbang [1] - Key components of the Sci-Tech Semiconductor ETF include companies specializing in etching equipment, thin film deposition equipment, CMP equipment, 300mm silicon wafers, and silicon carbide substrates [2]

【环球网科技报道 记者 张阳】9月18日，华为在上海世博展览馆召开全联接大会（HC）。华为轮值董事长徐直军发表了题为《以开创的超节点互联技术引 领AI基础设施新方式》的主题演讲。在演讲中，徐直军首次公开了华为昇腾芯片演进路线图，以及面向超节点的互联协议灵衢架构，并将灵衢2.0技术规范 对外开放。 徐直军表示，自2019年发布昇腾910芯片，到2025年，基于昇腾910C芯片打造的Atlas900超节点的规模部署，业界对昇腾芯片就一直有很多诉求和期待。此 次，就正式公布昇腾芯片演讲路线图。 大规模超节点，把计算和通用计算的能力推向了新的高度，但是，大规模超节点带来的技术挑战也显而易见：如何满足长距离且高可靠的连接，并且还要能 实现大带宽且低时延。 徐直军表示，为了解决长距离铁高可靠性的问题，我们在互联协议的物理层、数据链路层、网络层、传输层等每一层都引入了高可靠机制。同时，我们在光 路上引入了纳秒级的故障检测和保护功能，当出现光模块闪断和故障时，让应用感知，并重新定义和设计了光器件、光模块以及互联芯片，这些创新设计让 光互联的可靠性提升了100倍，满足了高可靠全光互联、高带宽、低时延的要求，让大规模超节点成为可 ...

Core Viewpoint - Recently, Huanchip Optoelectronics (Henan) Co., Ltd. was established with a registered capital of 10 million RMB, focusing on various sectors within the optoelectronics and semiconductor industries [1] Company Overview - The legal representative of Huanchip Optoelectronics is Jia Hongsuo [1] - The company has a registered capital of 10 million RMB [1] Business Scope - The company’s business scope includes the manufacturing and sales of optoelectronic devices, semiconductor lighting devices, and semiconductor discrete devices [1] - It also engages in integrated circuit design, manufacturing, and sales, as well as smart home consumer devices and display devices [1] - Additional activities include the manufacturing and sales of electronic components, lighting fixtures, and electronic special materials [1] - The company is involved in software development, technical services, and system integration [1] - It has various licensed projects, including construction engineering design and supervision [1]

Core Insights - Huawei is positioning itself as a leader in AI computing power, directly competing with Nvidia by unveiling a comprehensive AI computing architecture at the Huawei Connect Conference [1][2] - The company has ambitious plans for its Ascend chip series, with multiple new chips scheduled for release between 2026 and 2028, indicating a long-term commitment to enhancing AI capabilities [1][3] - Huawei's new supernodes and superclusters, including Atlas 950 and Atlas 960, are touted as the world's strongest computing clusters, with capabilities exceeding 500,000 and 1 million cards respectively [2] Group 1: AI Computing Power - Huawei's Ascend chip roadmap includes the release of Ascend 950PR in Q1 2026, Ascend 950DT in Q4 2026, Ascend 960 in Q4 2027, and Ascend 970 in Q4 2028, showcasing a strategic long-term vision for AI chip development [1][3] - The company emphasizes the importance of computing power as a key driver for artificial intelligence, particularly in the context of China's AI development [1] Group 2: Supernodes and Superclusters - The Atlas 950 SuperPoD and Atlas 960 SuperPoD supernodes support 8,192 and 15,488 Ascend cards respectively, setting new benchmarks in computing power, memory capacity, and interconnect bandwidth [1][2] - Huawei has deployed over 300 CloudMatrix 384 supernodes, serving more than 20 clients, indicating a strong market presence and customer adoption [2] Group 3: Interconnect Technology - Huawei has developed a new interconnect protocol called Lingqu, aimed at addressing the challenges of large-scale supernode interconnectivity, and plans to open the Lingqu 2.0 technology specifications to foster an open ecosystem [4]

Core Insights - The ETF market showed mixed performance on the 18th, with the semiconductor sector leading gains [2] - The total trading volume for ETFs reached 297.14 billion yuan, with stock ETFs accounting for the largest share [2] Group 1: ETF Performance - The leading performer was the Penghua Sci-Tech Semiconductor ETF (589020), which rose by 6.90% [2] - Other notable gainers included the Semiconductor Materials ETF (562590) with a 6.65% increase and the Semiconductor Equipment ETF (159327) up by 6.53% [2] - The Rare Metals ETF (561800) was the biggest loser, declining by 1.96% [2] Group 2: Trading Volume Breakdown - The trading volume for stock ETFs was 126.15 billion yuan, while bond ETFs had a volume of 88.02 billion yuan [2] - Money market ETFs recorded a trading volume of 22.46 billion yuan, and commodity ETFs had 3.72 billion yuan [2] - The highest trading volumes among non-money market ETFs were for the Hang Seng Technology ETF (513130) at 7.13 billion yuan, followed closely by the Huaxia Hang Seng Technology ETF (513180) at 7.13 billion yuan and the Huaxia Hang Seng Internet Technology ETF (513330) at 7.00 billion yuan [2]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to consider their financial situation and needs before relying on the information provided [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to perform their own research and understand the risks involved with financial instruments before making investment decisions [1].

Huawei's AI Chip Development - Huawei is advancing its AI chip development with plans for new Ascend and Atlas series chips, including the Ascend 910C, which is set for mass production in Q1 2025 as a domestic alternative to Nvidia's H20 chip [3][8] - The Ascend 910C faces challenges with a yield rate of approximately 20% from SMIC's N+2 process, which is below the commercially viable threshold [3] - Future releases include the Ascend 950PR and Ascend 950DT chips in 2026, and the Atlas 950 Supercluster, expected to launch in late 2025, aimed at enhancing China's domestic AI computing capabilities [4][8] UAE Interest Rate Cut - The Central Bank of the UAE has reduced its benchmark interest rate by 25 basis points, bringing the Overnight Deposit Facility rate down from 4.40% to 4.15%, effective immediately [5][8] - This rate cut follows a similar action by the U.S. Federal Reserve, reflecting the UAE dirham's peg to the U.S. dollar [5] - The UAE has slightly revised its inflation forecast for 2025 to 1.9% from 2% and for 2026 to 1.9% from 2.1% [5] South Korea E-commerce Joint Venture - The Fair Trade Commission in South Korea has conditionally approved a joint venture between AliExpress Korea and a unit of Shinsegae Group, named "Grand Opus Holding" [7][8] - This joint venture involves Emart affiliate Apollo Korea contributing 100% equity in Gmarket, while Alibaba affiliate BK4 invests $225 million in cash and 100% equity in AliExpress Korea [7] - The merger is expected to reshape the domestic e-commerce landscape, intensifying competition with existing players like Coupang and Naver [7][8] Geopolitical Developments - Iranian Foreign Minister engaged in discussions with European nations regarding Iran's nuclear program, aiming to prevent the re-imposition of international sanctions [10] - Poland is advocating for a 2026 deadline for the EU to halt Russian oil imports, citing geopolitical risks and the need to stop financing Russia's military actions [11]

徐直军表示，超节点成为AI基础设施建设新常态，目前CloudMatrix 384超节点累计部署300+套，服务20+客户。华为将推出全球最强超节点Atlas 950 SuperPoD，算力规模8192卡，预计于今年四季度上市。此外新一代产品Atlas 960 SuperPoD ，算力规模15488卡，预计2027年四季度上市。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责 任自负。 9月18日周四，华为全联接大会2025在上海举办。大会首日，华为副董事长兼轮值董事长徐直军、华为董事兼ICT BG CEO杨超斌出席并发表主题 演讲。 会上，徐直军首次公布了昇腾芯片演进和目标。他表示，未来三年，华为已经规划了昇腾多款芯片，包括950PR，950DT以及昇腾960和970。其 中950PR2026年第一季度对外推出，该芯片采取了华为自研HBM。 ...