吸引投资者买入半导体股票的利好因素接连不断。首先，中美举行贸易磋商，美国商务部长 暗示放宽半导体等出口管制。此外，生成式AI用先进半导体的销售坚挺。半导体巨头博通 的总市值已超过特斯拉…… 全球半导体相关股票呈现出强劲的上涨态势。在6月11日的东京股市，爱德万测试（Advantest）的涨幅 一度超过4%，与4月创出的年初以来低点相比，涨幅达到8成。日经平均股指连续4天上涨。半导体相关 股票带动整个股市行情的剧本备受期待。 当前，吸引投资者买入半导体股票的利好因素接连不断。首先，中美两国政府6月10日举行了与贸易问 题相关的部长级磋商。双方就切实履行5月在瑞士签订的协议内容达成一致。美国商务部长卢特尼克表 示，中国的稀土出口管制问题"可能会得到解决"，同时也暗示美国将放宽半导体等产品的出口管制。 中国市场需求扩大容易惠及爱德万测试和迪思科等日本企业。原因是虽然中国也有开展半导体制造设备 业务的企业，但也很依赖日本和欧洲的主要企业。 由全球主要半导体相关股票组成的费城半导体股票指数（SOX）6月10日上涨了超过2%，创出了2月以 来的新高。与美国宣布对等关税后4月创出的年初以来新低相比，涨幅达到5成。 由日本主 ...

Group 1 - The core viewpoint of the articles highlights the positive factors attracting investors to semiconductor stocks, including easing export controls and strong sales driven by generative AI [1][2] - The U.S. and China held ministerial-level trade talks on June 10, with indications that the U.S. may relax semiconductor export controls, which is expected to benefit the semiconductor sector [1][2] - TSMC reported a 40% year-on-year increase in sales for May 2025, marking a historical high for that month, indicating robust demand for advanced semiconductors [1] Group 2 - The Evercore ISI index for U.S. high-tech companies reached 57.5 in early June, the highest level in two years, reflecting positive sales and order trends [2] - DeepSeek's advancements in AI models are intensifying competition between U.S. and Chinese companies, which could expand the application range of AI and benefit related manufacturing equipment [2] - The Philadelphia Semiconductor Index (SOX) rose over 2% on June 10, achieving a new high since February, with a 50% increase compared to the low in April [2] Group 3 - The Nikkei Semiconductor Index in Japan saw a 43% increase since its low in early April, reflecting strong performance in the semiconductor sector [3] - Broadcom's market capitalization has surpassed Tesla, breaking the dominance of the "Magnificent 7" tech stocks, which has drawn investor attention [3] - However, there are concerns about overvaluation in Japanese semiconductor stocks, with Advantest's expected price-to-earnings ratio (PER) rising above 34, suggesting potential slowing in future price increases [3]

Group 1 - The core viewpoint is that the U.S. risks losing its leadership in AI to China if it imposes excessive regulations on the AI industry, as China is only 3 to 6 months behind the U.S. in AI model development [1] - The U.S. government has implemented different strategies to curb China's chip manufacturing capabilities, with Biden's administration introducing "AI diffusion rules" and Trump's administration reversing them [3][4] - The U.S. Department of Commerce has issued warnings regarding the legal consequences for global companies that allow American chips to be used for training Chinese AI models, indicating a strong stance against China's advancements [3] Group 2 - The statements made by U.S. officials highlight a significant concern regarding the international competitiveness of the U.S. AI industry, as efforts to "weaponize" AI may inadvertently harm its global collaboration [5] - There is a growing sentiment in the tech community that U.S. export controls could lead to a loss of competitive advantage, as companies like NVIDIA acknowledge that China will continue to advance regardless of U.S. chip availability [4] - The discussion around the potential smuggling of AI chips is downplayed, with assertions that the physical size and weight of these chips make them difficult to hide, suggesting a focus on legitimate market expansion instead [4]

根据英伟达15日提交给美国监管机关文件，美国政府已通知英伟达，其为大陆市场设计的降规版AI芯 片H20须先取得许可才能出口，而且这项规定"没有期限"。 英伟达警告，1月底至4月底的本年度第1季将提列55亿美元费用，这笔费用与H20系列的"库存、采购承 诺及相关准备"有关。 H20和MI308都是为了符合先前规定、为中国大陆市场打造的"降规版"。H20算力参数只有常规版H100 的14%左右，连网速度和频宽也较慢，但仍是英伟达在中国大陆销售的最先进产品。根据估计，2024年 H20芯片贡献英伟达约120亿至150亿美元营收。 台积电原本预期，今年AI加速器营收贡献将翻倍成长，法人以此估计，台积电2025年AI相关营收将至 少达8,600多亿元。随着英伟达、AMD降规版AI芯片销陆再度受限，法人聚焦今天台积电法说会是否调 整AI订单展望。 业界分析，美国收紧H20和MI308销陆管制，很可能与"DeepSeek事件"及超级电脑相关。大陆AI新创 DeepSeek今年初推出号称"CP值高"又具有竞争力的AI模型R1，震撼业界，其研究就采用H20芯片。路 透2月报导，由于DeepSeek带动对低成本AI模型的需求激增 ...