中国正在收紧针对全球半导体公司的所谓并购陷阱。美国芯片巨头英伟达——已经深陷中美贸易紧 张局势——是主要目标，但分析师表示，韩国企业也远非安全。 来源：内容来自 koreajoongangdaily 。 此 案 的 核 心 是 英 伟 达 2020 年 收 购 以 色 列 高 速 互 连 芯 片 及 解 决 方 案 开 发 商 Mellanox 的 交 易 。 Mellanox的InfiniBand技术广泛应用于大型数据中心的建设。 国家市场监督管理总局经过12个月的审查批准了这笔交易，但附加条件包括"无歧视地向中国市场 供应产品"。然而，去年12月，该监管机构突然再次开始调查这笔交易，并在中美两国进行敏感贸 易谈判之际，通知英伟达涉嫌违反反垄断法。据彭博社9月16日报道，美国财政部长斯科特·贝森特 称，这笔交易"时机不当"。 英伟达斥资 69 亿美元收购 Mellanox 被认为是一招妙招，将该公司从一家图形处理器 (GPU) 供 应商转型为一家业务范围更广的人工智能基础设施公司。如今，中国似乎正在冲击英伟达的核心业 务。 SK海力士可能也深陷其中。2021年12月，该公司经过14个月的等待，终于获得国家市 ...

Core Viewpoint - Marvell Technology Inc. reported earnings and revenue slightly above analyst expectations, but the performance outlook did not generate significant market reaction, leading to a decline in stock price during after-hours trading [1][3]. Financial Performance - The company reported a first-quarter earnings per share (excluding stock compensation and other specific costs) of $0.62, slightly above Wall Street's expectation of $0.61 [1]. - Revenue reached $1.9 billion, exceeding analyst predictions of $1.88 billion, and representing a year-over-year growth of 63% [1]. - Net profit for the quarter was $177.9 million, compared to a loss of $200.2 million in the same period last year [1]. Business Segment Performance - The data center business saw remarkable growth, with revenue increasing by 76% year-over-year to $1.44 billion, surpassing expectations [1][2]. - The operator infrastructure segment had the best performance, with sales soaring 93% to $138.4 million [2]. - The consumer segment grew by 50% to $63.1 million, while the enterprise networking segment increased by 16% to $177.5 million [2]. - The only segment to decline was the automotive and industrial business, which saw a 2% drop in sales to $75.7 million [2]. Future Outlook - For the upcoming quarter, Marvell expects revenue to be around $2 billion, slightly above Wall Street's forecast of $1.99 billion [2]. - The CEO praised the company's performance, attributing the momentum to strong AI demand in the data center end market and the rapid expansion of custom silicon projects [2]. - Marvell's custom chip business, including projects for major clients like AWS, is expected to continue strong growth in the second quarter and beyond [2]. Strategic Importance - The data center business is crucial for Marvell, accounting for 72% of total revenue in fiscal year 2025, up from 41% the previous year [3]. - Analysts noted that Marvell has demonstrated significant improvement compared to a year ago, turning a $400 million operating loss into strong profitability [3]. - The company has maintained a solid cost structure while increasing R&D spending, which is expected to encourage investor confidence [3]. Stock Performance - Despite the impressive growth in the data center business, Marvell's stock has underperformed this year, with a decline of over 3% in after-hours trading, resulting in a year-to-date drop of 42% [3].