公众号记得加星标⭐️，第一时间看推送不会错过。 多年来，虚拟或云无线接入网 (RAN) 概念的主要问题之一在于英特尔作为通用芯片的唯一供应商。 这与相关的开放式 RAN 运动及其最初倡导的供应商多元化理念背道而驰。虽然其他公司也生产中央 处理器 (CPU)，但没有一家公司能像英特尔那样在 RAN 技术上投入如此巨资。像 Orange 这样的运 营商一再呼吁硬件和软件"完全解耦"，并实现"在任何类型的硬件上运行任何类型的软件"。然而，即 使是从英特尔转向使用相同 x86 架构的 CPU 竞争对手 AMD，也显得困难重重。最近 AI-RAN 的出 现更是雪上加霜。 根据英伟达的定义，AI-RAN 将用其图形处理器 (GPU) 取代传统 RAN 的定制芯片和虚拟 RAN 的 中央处理器 (CPU)。其部分原因是希望通过人工智能和机器学习来提高频谱效率——英伟达坚称，旧 硬件平台无法实现如此显著的频谱效率提升。然而，对于电信行业而言，不利之处在于，英伟达目前 在 GPU 领域的统治地位甚至超过了英特尔在 CPU 领域的统治地位。 人工智能替代方案即将问世吗？近来，谷歌内部研发的一款名为张量处理单元 (TPU) 的芯片 ...

Core Viewpoint - China is tightening regulations on global semiconductor companies, particularly targeting Nvidia amid ongoing US-China trade tensions, with potential implications for South Korean firms as well [2][3]. Group 1: Nvidia's Situation - Nvidia is under investigation by China's State Administration for Market Regulation (SAMR) for alleged violations of antitrust laws related to its $6.9 billion acquisition of Mellanox, which was approved with conditions [2][3]. - The SAMR may impose fines ranging from 1% to 10% of Nvidia's previous year's revenue based on the investigation's findings [2]. Group 2: Impact on South Korean Companies - SK Hynix is also facing challenges, having received conditional approval for its acquisition of Intel's NAND business, which includes price controls and supply commitments to the Chinese market [3][4]. - The conditions imposed on SK Hynix's acquisition will remain in effect until at least December 2026 unless explicitly lifted by SAMR [3]. Group 3: Regulatory Environment - The SAMR has historically been the final gatekeeper for semiconductor mergers, often delaying approvals and imposing stringent conditions [4]. - Recent actions by the US government have further complicated the situation for South Korean companies, including the revocation of "validated end-user" status for their Chinese factories, impacting semiconductor equipment shipments [4].

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].