Group 1: AI Market Growth - The global AI market is experiencing rapid growth, with a projected market size of approximately $23.4 billion in 2024 and an expected increase to $274.5 billion by 2032, reflecting a CAGR of 36% [1] Group 2: Power Supply Challenges in the US - The current power capacity of data centers in the US is nearing its limit, with over 400 GW of power supply requests reaching 57% of the national peak load, but the actual implementation rate is only about 20% [4] - Microsoft CEO Nadella highlighted that a significant amount of AI chips (GPUs) are idle due to insufficient power and cooling capacity in data center rack space, rendering high-performance chips ineffective [4] Group 3: Investment in Power Distribution Systems - For a 5MW data center, the distribution system accounts for 55% of the construction cost, while the cooling system represents 19% [7] - The power supply system is evolving towards 800V/±400V high voltage direct current systems due to increased IT load power and limited physical space in data centers [9] Group 4: Company Performance - Siyi Electric - Siyi Electric, established in 1993, has become a leading private power equipment manufacturer in China, with a diverse product range and strong EPC capabilities [11] - In 2023, Siyi Electric achieved overseas revenue of 2.158 billion yuan, a year-on-year increase of 15.71%, with new overseas orders reaching 4.01 billion yuan, up 34% [14] - The company is expected to reach overseas revenue of 3.122 billion yuan in 2024, a growth of 44.67%, with overseas orders accounting for 20.2% of total revenue [14] Group 5: Company Performance - Jinpan Technology - Jinpan Technology's dry-type transformers are key products for the AI data center market, meeting the stringent power supply stability and efficiency requirements [23] - In the first three quarters of 2025, Jinpan Technology's revenue from AIDC and IDC sectors surged to 974 million yuan, a year-on-year increase of 337%, making it a significant part of the company's total revenue [23] - The company reported a revenue growth of 8.25% in the first three quarters of 2025, with net profit growth reaching 20.27%, indicating improved profitability [26]

（全球TMT2025年9月19日讯）今日要点：英伟达50亿美元投资英特尔将联合开发芯片；小米召回11.6 万辆SU7将升级OTA；华为广汽官宣合作品牌"启境"；微软将在威斯康星州建第二座数据中心；软银愿 景基金裁员近20%；AI将开启全球不平等的新纪元。 英伟达9亿美元挖走Enfabrica CEO及核心团队 英伟达以超过9亿美元的现金与股票交易，将AI硬件初创公司Enfabrica的首席执行官Rochan Sankar及部 分核心员工打包带走，并获得该公司的技术许可。知情人士透露，这笔交易已于上周完成。Enfabrica成 立于2019年，英伟达在2023年参与了 Enfabrica的1.25亿美元B轮融资。 小米召回11.6万辆SU7将升级OTA 小米汽车宣布，小米汽车OTA秋季大版本升级已开始在小米SU7车上推送。此次OTA对高速领航辅助功 能进行升级优化，同时新增泊车偏移辅助功能、小爱同学免唤醒、小米超级任务、露营模式，宠物模式 等。日前，小米汽车向国家市场监督管理总局备案召回计划，召回2024年2月6日至2025年8月30日生产 的部分SU7标准版电动汽车，共计116887辆。本次召回范围内部分车辆 ...

Core Viewpoint - Nvidia has announced a $5 billion investment in Intel to support the struggling chipmaker, without providing key manufacturing orders, while planning to jointly develop PC and data center chips, posing a potential threat to TSMC [2] Group 1: Investment and Strategic Moves - Nvidia's investment in Intel is seen as a strategic move that may be influenced by U.S. government support for Intel, which could lead to policy advantages for the company [2] - Nvidia plans to acquire Intel shares at $23.28 each, higher than the U.S. government's previous offer of $20.47, potentially making Nvidia one of Intel's largest shareholders with a stake of 4% or more [3] - Intel's recent funding from SoftBank ($2 billion) and the U.S. government ($5.7 billion) enhances its financial position, allowing for significant investments in research and development [3] Group 2: Competitive Landscape - The collaboration between Nvidia and Intel on custom data center processors could significantly challenge competitors like AMD and Broadcom, as both companies are also developing AI-related technologies [4] - Nvidia's provision of custom graphics chips for Intel's CPUs may give Intel a competitive edge against AMD in the consumer market [5] - Nvidia's CEO emphasized that this partnership merges Nvidia's AI capabilities with Intel's CPU ecosystem, aiming to lay the foundation for the next computing era [5]