Group 1 - The article highlights the sectors that will benefit from the "anti-involution" policy [1] - The successful delivery of the first NVIDIA GB300 NVL72 is expected to lead to a peak season for the supply chain, with analysts optimistic about the growth in Q2 and Q3 due to the rapid ramp-up of NVIDIA Blackwell and the strong development of ASICs [1] - A total of 388 institutional research reports were published today, with SF Express receiving an upgraded rating and 15 companies getting initial coverage, including four stocks like Ruijie Networks receiving in-depth coverage from New Fortune analysts [1] Group 2 - In the individual stock institutional attention ranking, Xinhecheng made its debut, with the top five being Xiaogoods City, Xinhecheng, Taotao Automotive, Kidswant, and Zijin Mining [1]

Investment Rating - Industry rating: Recommended [6] Core Insights - The GB300 is expected to start volume production in the second half of the year, with significant advancements in AI performance and capabilities [1][8] - The central government emphasizes high-quality development of the marine economy, with wind power generation rapidly increasing, accounting for over 12% of total power generation [2][10] - There is a strong growth in overseas AI demand, particularly from new enterprises, driving high capital expenditure in AI [3][14] Summary by Sections GB300 Launch - CoreWeave announced the first market delivery of the NVIDIA GB300 NVL72, featuring advanced AI performance with over exaflop capabilities and significant improvements in user response speed and throughput [1][8] Marine Economy Development - The central government is focusing on enhancing the marine economy through policy support and encouraging social capital participation, with wind power generation capacity rapidly increasing [2][10] Investment Recommendations - The report recommends focusing on the AI capital expenditure and related sectors, highlighting the growth potential in the optical module industry and PCB supply chain [3][14] - Specific beneficiary stocks include NewEase, Zhongji Xuchuang, and Tianfu Communication in the optical module sector, and China Telecom, China Mobile, and China Unicom in the telecommunications sector [3][16][17] - The marine economy sector is also highlighted, with companies like Zhongtian Technology and Hengtong Optic-Electric being potential beneficiaries [4][15]

电子周观点： GB300 开始出货，继续看好 AI-PCB 及核心算力硬件。7 月 3 日，美国 CoreWeave 公司在官网宣布，已收到市 场上首个英伟达 GB300 NVL72，PowerEdge XE9712 服务器是戴尔公司基于 Nvidia GB300 NVL72，专门为推 理任务设计的 AI 服务器，具备高效能、高密度加速技术，能提供 50 倍的 AI 推理输出并提升 5 倍的吞吐量， 适用于大规模 AI 部署的 LLM 训练和即时推论。采用液冷技术，实现节能运行。具备实时万亿参数 LLM 推理能 力，增强大规模 AI 模型训练。戴尔表示，采用创新的直接芯片冷却技术，最多可支持 192 个 Nvidia Blackwell Ultra GPU。我们认为，GB200 下半年迎来快速出货，GB300 也将快速上量，此外，B200、B300 也在积极拉 货，产业链迎来拉货旺季。谷歌、亚马逊、Meta 等公司 ASIC 芯片快速发展，我们预计 2026 年三家公司 ASIC 芯片的数量将超过 700 万颗，OpenAI 及 xAI 等厂商也在大力推进 ASIC 芯片。英伟达 Blackwell 的快速放 ...