Core Viewpoint - Tianshu Zhixin (09903) has announced a roadmap for its fourth-generation chip architecture, aiming to surpass NVIDIA's Rubin architecture by 2027, which has positively impacted its stock price, increasing by 4.26% to HKD 178.5 with a trading volume of HKD 139 million [1] Group 1: Chip Architecture Roadmap - The company plans to exceed NVIDIA's Hopper architecture with its Tianshu Tianshu architecture by 2025 [1] - The Tianshu Tianxuan architecture is set to match NVIDIA's Blackwell architecture in 2026 [1] - The Tianshu Tianji architecture is expected to surpass Blackwell in 2026 [1] - By 2027, the Tianshu Tianquan architecture aims to exceed NVIDIA's Rubin architecture [1] - After 2027, the company will shift focus to breakthrough computing chip architecture design [1] Group 2: Product Launch - Tianshu Zhixin has launched the "Tongyang" series of edge computing products [1] - The TY1000 has demonstrated performance exceeding NVIDIA's AGX Orin in tests related to computer vision, natural language processing, and DeepSeek 32B large models [1]

Core Insights - Domestic GPU companies are seizing the industry window period with intensive initiatives, exemplified by TianShu ZhiXin's release of its fourth-generation architecture roadmap, aiming to surpass NVIDIA's Rubin architecture by 2027 [1][2] Group 1: Product Development and Architecture - TianShu ZhiXin has introduced a roadmap for its four-generation GPU architecture, with specific timelines: "TianShu TianShu" in 2025 to surpass NVIDIA's Hopper architecture, "TianShu TianXuan" in 2026 to match Blackwell, and "TianShu TianQuan" in 2027 to exceed Rubin [3] - The company emphasizes energy efficiency and improved parallel computing resource utilization in its architecture design, achieving over 90% effective utilization in AI-related calculations [3][4] - The efficiency of the "TianShu TianShu" architecture is reported to be 60% higher than the industry average, with a 20% performance increase over NVIDIA's Hopper architecture in specific scenarios [4] Group 2: Product Launches and Market Positioning - TianShu ZhiXin has launched the "TongYang" series of products aimed at edge computing, which includes four models catering to various computational needs [5][6] - The "TongYang" series has demonstrated superior performance compared to NVIDIA's AGX Orin in multiple real-world scenarios, with the goal of becoming the leading domestic solution for edge computing [6][8] Group 3: Market Dynamics and Competitive Landscape - As of now, TianShu ZhiXin's products have served over 300 clients and completed more than 1,000 deployments across various sectors, indicating a growing commercial application [8] - The domestic GPU market is witnessing increased activity, with several companies like MoEr Thread, MuXi Co., and BiRan Technology completing IPOs, reflecting the ongoing interest in hard technology [8][9] - Despite the enthusiasm in the capital market, domestic GPU companies still hold a small market share compared to NVIDIA, which commands a significant global market presence [9]

Core Insights - The Chinese GPU industry is rapidly developing, posing a significant challenge to Nvidia, as highlighted by Jensen Huang's concerns about the rise of domestic chip companies and their potential to surpass Nvidia's technology [2][24]. - A recent conference by a Chinese GPU manufacturer revealed a detailed roadmap for surpassing Nvidia's architectures, indicating a strategic shift in the competitive landscape [3][25][26]. Group 1: Industry Dynamics - Nvidia's founder, Jensen Huang, has acknowledged the rapid growth of Chinese chip companies, suggesting that export controls may inadvertently accelerate their technological advancements [2][24]. - The competitive pressure is not from a single entity but from a collective effort within the Chinese GPU industry, leveraging the largest application market for rapid iteration [2][24]. Group 2: Technological Advancements - The Chinese GPU manufacturer presented a roadmap indicating that its TianShu architecture has already surpassed Nvidia's Hopper architecture, with future architectures set to challenge Blackwell and Rubin [3][25][29]. - The TianShu architecture has demonstrated approximately 20% higher performance than Nvidia's Hopper in practical applications, not just theoretical peak values [4][29]. Group 3: Strategic Positioning - The company has adopted a transparent approach by publicly sharing its three-year roadmap, which outlines specific targets and milestones, thereby building trust and confidence in its capabilities [4][31]. - The introduction of the "Tongyang" series edge chips represents a strategic move to establish a foothold in the edge computing market, with performance metrics that match or exceed Nvidia's offerings [10][34]. Group 4: Customer Engagement and Validation - The company has successfully deployed over 5.2 million chips and served more than 300 clients, demonstrating its transition from theoretical capabilities to practical applications [4][33]. - Real-world results from clients include significant reductions in processing costs and time, showcasing the effectiveness of the company's products in various sectors such as finance and healthcare [18][20][42]. Group 5: Future Outlook - The competitive landscape is shifting as the company focuses on building a strong foundation in edge computing, which is expected to redefine the center of the industry [36][38]. - The relationship with clients is evolving into a strategic partnership, where customer feedback is integral to product development and optimization, reinforcing the company's market position [20][44].

Group 1 - The core viewpoint of the article is that TianShu ZhiXin has released a roadmap for its fourth-generation architecture, aiming to surpass NVIDIA's related products [2][3] - The roadmap includes the TianShu TianShu architecture expected to surpass Hopper by 2025, TianShu TianXuan architecture targeting Blackwell in 2026, TianShu TianJi architecture also surpassing Blackwell in 2026, and TianShu TianQuan architecture expected to surpass Rubin by 2027 [3] - The company plans to launch multiple products over the next three years based on this roadmap, continuously enhancing computing performance [3] Group 2 - Key details of the architectures include: TianShu TianShu architecture achieving over 90% effective utilization efficiency in AI calculations, TianShu TianXuan architecture introducing ixFP4 precision support, TianShu TianJi architecture covering all scenarios of AI and accelerated computing, and TianShu TianQuan architecture incorporating more precision support and innovative designs [3] - The company has reportedly achieved approximately 20% higher performance than the Hopper architecture in the DeepSeek V3 scenario due to core technology innovations [3] - TianShu ZhiXin was listed on the Hong Kong Stock Exchange on January 8, 2026, and its stock price closed at 188.2 HKD per share on January 26, 2026, reflecting a decline of 7.65%, with a market capitalization of 47.8 billion HKD [4]

Core Viewpoint - TianShu ZhiXin has released a roadmap for its fourth-generation architecture, aiming to surpass NVIDIA's related products, as announced at the "Smart Start Chip Journey" partner conference on January 26 [2][4]. Group 1: Architecture Roadmap - In 2025, the TianShu TianShu architecture is expected to surpass NVIDIA's Hopper architecture [4]. - In 2026, the TianShu TianXuan architecture will benchmark against NVIDIA's Blackwell architecture [4]. - By 2026, the TianShu TianJi architecture is projected to exceed Blackwell [4]. - In 2027, the TianShu TianQuan architecture is anticipated to surpass Rubin [5]. - After 2027, the focus will shift to breakthrough computing chip architecture design [5]. Group 2: Product Development and Performance - Over the next three years, TianShu ZhiXin plans to release multiple products based on the announced fourth-generation architecture, continuously enhancing computing performance [6]. - The TianShu TianShu architecture supports high-precision scientific computing and AI precision computing, achieving over 90% effective utilization efficiency in attention mechanism-related calculations [7]. - The TianShu TianXuan architecture introduces ixFP4 precision support [7]. - The TianShu TianJi architecture aims for full-scene AI and accelerated computing coverage [7]. - The TianShu TianQuan architecture incorporates more precision support and innovative designs [7]. - Current core technology innovations have allowed TianShu ZhiXin to achieve approximately 20% higher performance than the Hopper architecture in the DeepSeek V3 scenario [7]. Group 3: Company Overview - The chairman and CEO of TianShu ZhiXin, Gai Lujian, has been with the company since July 2020 and is responsible for daily management and overall strategic planning [7]. - TianShu ZhiXin was listed on the Hong Kong Stock Exchange on January 8, 2026, and its stock closed at HKD 188.2 per share on January 26, experiencing a decline of 7.65%, with a market capitalization of HKD 47.8 billion [7].