来源 ： 内容编译自tomshardware 。 据彭博社报道，美国政府终于向英伟达颁发了出口许可证，允许其向阿联酋出口价值数百亿美元的尖 端人工智能 GPU，开启了双方大规模双边技术合作的第一阶段。不过，运往阿联酋的这些人工智能 加速器均不会交付给位于阿布扎比的人工智能公司 G42，而是将由在阿联酋设有数据中心的美国公司 运营。 此次授权是在5月份达成的一项协议之后达成的，该协议允许阿联酋每年购买最多50万台先进的英伟 达处理器（目前为Blackwell处理器，未来几年将购买Rubin和Feynman处理器），同时承诺未来十 年在美国投资1.4万亿美元。预计双方将以等额出资的方式匹配出资。首批许可不包括G42公司的芯 片。G42公司是阿布扎比政府支持的人工智能公司，正在为OpenAI开发一个5千兆瓦的数据中心。然 而，根据协议条款，G42公司未来将获得阿联酋20%的人工智能处理器。 公众号记得加星标⭐️，第一时间看推送不会错过。 END 今天是《半导体行业观察》为您分享的第 41 90 期内容，欢迎关注。 推荐阅读 ★ 一颗改变了世界的芯片 这项政策标志着拜登政府的重大转变，此前拜登政府曾限制人工智能芯片出 ...

Core Viewpoint - AMD has agreed to share 15% of its AI GPU sales in China with the U.S. government in exchange for export licenses, which has raised concerns, but analysts believe the impact on AMD's profitability will be minimal [1] Group 1: Financial Impact - Citigroup analyst Christopher Danely maintains a "neutral" rating on AMD with a target price of $180, noting that the stock's valuation is slightly above its historical average [1] - The agreement primarily affects low-margin products like the MI308X, which has a profit margin significantly lower than AMD's average margin of nearly 54% [1] Group 2: Growth Projections - AMD's mainstream AI GPUs, specifically the MI355 and MI400, are expected to drive significant growth, with AI sales projected to reach $6.2 billion in 2025 (a 23% increase) and $9.9 billion in 2026 (a 58% increase) [1] - Key customers contributing to this growth include Amazon, Oracle, Meta, and OpenAI [1] Group 3: Competitive Landscape - Competitor NVIDIA has also signed a similar export agreement with China [1] - Wall Street currently rates AMD as "moderate buy," with analysts estimating an average upside of about 5% from current levels [1]

Group 1 - Morgan Stanley compares the U.S. tariff issue to an "iceberg," indicating that the global memory semiconductor market faces increasing uncertainty [1] - The report titled "Memory - The Iceberg is Coming" highlights that the actual impact of tariffs on memory semiconductors is significant but largely hidden [1] - Factors contributing to the bleak outlook for the memory semiconductor market include delayed PC replacement demand and declining consumer confidence in China [1] Group 2 - Morgan Stanley emphasizes that HBM faces greater risks due to slowing chip packaging capacity growth and recommends Samsung Electronics as a preferred stock [2] - Several Korean securities firms have lowered their target prices for SK Hynix, with estimates ranging from 20,000 to 26,000 KRW [2] - Despite previous negative forecasts, SK Hynix's performance has exceeded expectations, with significant revenue growth since the second half of last year [2] Group 3 - SK Hynix reported a 41.9% year-on-year revenue increase in Q1, reaching 17.6 trillion KRW, and a 157.8% surge in operating profit to 7.4 trillion KRW, both surpassing market expectations [3]