在华尔街投资巨鳄Loop Capital以及Wedbush看来，以AI算力硬件为核心的全球人工智能基础设施投资 浪潮远远未完结，现在仅仅处于开端，在前所未有的"AI算力需求风暴"推动之下，这一轮AI投资浪潮 规模有望高达2万亿美元。 智通财经APP获悉，近期全球芯片股"超级牛市行情"激情演绎的时刻，尤其是与AI训练/推理系统密切 相关联的半导体/芯片股涨势如虹之际，高盛最新发布的半导体行业研报可谓为无比火热的AI看涨情 绪"再添一把火"。在该机构举办的覆盖全球最顶尖半导体公司的Communacopia + Technology 大会之 后，高盛研究团队表示，对于半导体行业继续维持"AI驱动的结构性牛市"主线判断。 高盛在研报中表示，在全球半导体行业中，与AI密切相关的基础设施最具长期"牛市叙事"确定性—— 比如英伟达AI GPU、博通AI ASIC以及SK海力士、美光所主导的至关重要AI算力硬件组件——HBM 存储系统。其次则是高盛长期看涨的"半导体设备端"，尤其是聚焦 HBM/先进封装与GAA/BPD工艺推 升的中长期巨额增量半导体设备领域。在高盛看来，阿斯麦、应用材料以及泛林集团等半导体设备领军 者堪称" ...

Market Overview - The market experienced a significant decline, with the ChiNext index leading the drop, and the STAR 50 index falling over 6% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.54 trillion yuan, an increase of 180.2 billion yuan compared to the previous trading day [1] - The Shanghai Composite Index fell by 1.25%, the Shenzhen Component Index dropped by 2.83%, and the ChiNext Index decreased by 4.25% [1] Sector Performance - The computing power sector faced downward pressure, with the ChiNext AI ETF (159388) and Communication ETF (515880) nearing their daily limit down, while the semiconductor sector saw declines of over 4% [1] - Specific ETFs showed significant declines, with the ChiNext AI ETF down by 9.47% and the Communication ETF down by 9.35% [2] Fundamental Analysis - No significant negative news was reported; instead, there were positive developments in North America, particularly with Google's advancements in AI [3] - Google is negotiating with small cloud service providers to deploy its TPU chips, marking competition with NVIDIA's GPUs [3] - The Ironwood TPU (TPU v6) is expected to enhance performance by approximately 10 times compared to its predecessor, with a projected revenue of 90 billion yuan for Broadcom over the next 6-7 months [3] Market Dynamics - Recent adjustments in the STAR 50 index have led to short-term selling pressure on major stocks [4] - There is a strong demand for profit-taking among investors, particularly after a period of overall market gains since April [4] Future Outlook - The 30-day leading indicators suggest a projected profit of 122 billion yuan for 2026, representing a year-on-year growth of 37% [5] - The overall market valuation is expected to improve, with a projected PE ratio of 24 times for 2026 [5] - The AI industry trend remains positive, with expectations for significant growth in ASIC contributions and continued rapid growth in GPUs [8] Investment Strategy - It is recommended to balance investments between North American and domestic computing power sectors [9] - The Communication ETF (515880) has a strong representation of computing hardware fundamentals, with over 75% exposure to light modules, servers, and fiber optics [9] - The ChiNext AI ETF (159388) also shows a significant allocation to light modules, indicating potential for better performance during bullish market conditions [9]

智通财经APP获悉，在有着"AI芯片霸主"称号的英伟达(NVDA.US)将于美东时间8月27日正式公布季度业绩之前， 覆盖半导体行业股票的一大批华尔街知名分析师近日可谓默契上调这家市值破4万亿美元的全球AI基础设施建设浪 潮之下最核心受益者的业绩增长预期以及目标股价，并且近期绝大多数顶级分析师看好英伟达市值在AI基建如火 如荼背景之下，有望突破5万亿美元这一颇具历史意义的创纪录超级关口。 华尔街竞相上调"全球最高市值公司"英伟达盈利预期以及未来12个月内的目标股价，与本周英伟达股价疲软走势 行成鲜明对比——连续三日下跌且累积跌幅约4%，意味着虽然该公司股价正在经历自4月低点以来暴涨超70%后带 来的逢高抛售与获利了结压力，但是华尔街对于英伟达业绩增长前景与股价预期可谓非常看好。 英伟达目标价在业绩前攀升——华尔街分析师密集上调12个月股价预期 英伟达当前市值约4.3万亿美元，仍然位列全球榜首，遥遥领先于市值排名第二的美国科技巨头微软(MSFT.US) ——该公司当前市值约3.75亿美元。华尔街分析师们坚信以AI算力硬件为核心的全球史无前例人工智能基础设施浪 潮仍然如火如荼，全球持续井喷式扩张的AI算力需求有望 ...

Core Viewpoint - TSMC has raised its full-year earnings outlook due to strong demand for AI computing power, leading to a market capitalization exceeding $1 trillion for the first time, making it the first Asian stock to achieve this milestone since PetroChina in 2007 [1][3]. Group 1: Financial Performance - TSMC reported a 61% increase in net profit for Q2, driven by surging AI computing demand [1]. - The company expects a 30% growth in sales by 2025, up from a previous estimate of nearly 20% [1]. - TSMC's stock price has risen nearly 50% since April, reaching historical highs [4]. Group 2: Market Demand and Trends - The demand for AI GPUs and AI ASICs is booming, with TSMC positioned as a key player in the AI chip manufacturing sector [7][8]. - TSMC's management anticipates a compound annual growth rate (CAGR) of approximately 20% over the next five years, with AI-related revenue expected to grow at a CAGR of around 45% [3][11]. - Major tech companies like Meta are investing heavily in AI infrastructure, indicating sustained demand for AI computing power [9]. Group 3: Competitive Position - TSMC is the largest contract chip manufacturer globally, benefiting from the increasing demand for AI chips from clients like NVIDIA and AMD [8]. - The company has secured nearly all high-end chip packaging orders for 5nm and below processes, indicating a strong competitive edge [9]. - Analysts from major financial institutions have reiterated "buy" ratings for TSMC, with target prices ranging from 1,210 to 1,400 New Taiwan Dollars [11][12][14].

Group 1 - The announcement of a $92 billion investment in AI infrastructure in Pennsylvania, including $36 billion for AI data centers and $56 billion for energy projects, highlights the state's role in enhancing the U.S. competitiveness in the global AI sector [1] - Blackstone Group has committed over $25 billion for new data centers and energy infrastructure in Pennsylvania, partnering with PPL Corp. to meet the energy demands of these data centers [1][3] - CoreWeave plans to invest up to $6 billion to establish a large AI data center in Lancaster, Pennsylvania, with an initial capacity of 100 megawatts, potentially expanding to 300 megawatts [2] Group 2 - Major tech companies like Amazon and Google are also investing significantly in AI infrastructure, with Amazon planning a $20 billion investment and Google $25 billion for data centers and energy projects in the region [3] - The global AI infrastructure investment wave is expected to reach $2 trillion, driven by unprecedented demand for AI computing power [2][4] - Nvidia's AI chips are being referred to as "the gold and oil of the new era," with predictions of its market capitalization reaching $5 trillion to $6 trillion in the coming years [7]

因特拉托表示，计划在数据中心配置未来数年将推出的下一代性能更加强大的英伟达AI GPU以及英伟 达 NVL AI服务器机架，以便从大西洋中部各州训练和运营所需AI算力资源无比庞大的"全球最大规模 的AI大模型"。据悉，有着"英伟达亲儿子"称号的CoreWeave已经成为首批部署英伟达Blackwell Ultra 架 构GB300 NVL72 AI服务器系统的AI算力提供商。 CoreWeave 上周同意以大约90亿美元收购数据中心运营商Core Scientific Inc.，该公司正在扩大其主要位 于美国的高性能站点网络，以满足大型云服务提供商们和AI大模型开发者们租赁最新AI算力设备的愈 发强劲需求。 "我们看到对于更大规模算力资源部署的持续需求，"因特拉托表示。"三年前还是10兆瓦基础设施，然 后变成100兆瓦。如今的讨论已逐渐指向吉瓦级别。"一座吉瓦级的电力系统设施可为大约75万户美国家 庭供电。 首批100兆瓦数据中心预计将于2026年向客户们开放，因特拉托预计该算力工厂的产能"将备受需求端追 捧"。CoreWeave 将成为兰开斯特大型站点的承租方，该站点由 Chirisa Technology ...

Core Viewpoint - TSMC is evaluating the construction of a large chip manufacturing facility in the UAE, leveraging advanced technology, with discussions ongoing with U.S. officials, but the project requires Washington's approval to proceed [1][2][3] Group 1: Project Details - The proposed facility is a "gigafab" complex consisting of six chip factories, larger than TSMC's existing project in Arizona, but total construction costs in the UAE remain unclear [1][2] - TSMC's previous investment plan for the Phoenix, Arizona project was $165 billion, which includes R&D and chip packaging infrastructure [1] Group 2: Strategic Importance - The UAE project aims to capitalize on AI chip manufacturing amid the region's push for AI development, with TSMC being a critical player in the global chip supply chain [2][3] - TSMC's dominance in advanced chip manufacturing, particularly in 5nm and below processes, positions it as a key supplier for major U.S. tech companies like Apple, Qualcomm, and NVIDIA [2][3] Group 3: Political and Economic Considerations - U.S. officials express concerns about national security and economic implications of TSMC's expansion into the Gulf region, particularly regarding the potential impact on domestic investments [2][5] - The Biden administration previously showed openness to the project under strict conditions, but discussions stalled before the end of its term [3][4] - The Trump administration is now attempting to revive the project as part of broader AI cooperation discussions, although skepticism remains among some officials [4][5]

硬·AI 作者 |张雅琦 编辑 | 硬 AI 点击 上方 硬AI 关注我们 AI数据中心提供商CoreWeave原计划在下月进行首次IPO，估值或超过350亿美元；然而，报道称，其最大客户微软已撤 回了部分合作承诺，原因是CoreWeave在交付方面存在问题，未能按时完成任务。 01 微软撤回部分合作 CoreWeave上市前景遇阻 CoreWeave最初是一家名为Atlantic Crypto的加密货币矿场，由商品交易员Mike Intrator、Brian Venturo 和Brannin McBee创立，主要业务是挖掘以太坊。2019年，该公司转型为AI公司提供云计算服务，利用英 伟达的高性能图形处理器（GPU）来构建和训练AI模型。 上市前夕遭微软"背刺"？人工智能数据中心提供商CoreWeave原计划在下月进行首次公开募股（IPO）， 估值或超过350亿美元，有望成为今年科技行业最大规模的IPO之一。 然而，据英国《金融时报》6日报道，CoreWeave的最大客户微软，已撤回了部分合作承诺，这无疑给 CoreWeave的上市前景蒙上了一层阴影。 报道援引知情人士透露， 微软撤回部分合作的原因是Cor ...