当AI时代算力集群规模正逐步从万卡向十万卡、百万卡甚至千万卡升级时，一支中国团队悄然另辟蹊径。 今年10月，北京大学人工智能研究院/集成电路学院双聘助理教授孙仲与北京大学集成电路学院蔡一茂教授、王宗巍助理教授率领的团队成功研制出基于 阻变存储器的高精度、可扩展模拟矩阵计算芯片，在全球范围内首次将模拟计算的精度提升至24位定点精度，让未来同等任务下使用更少的计算卡成为可 能。 这是一种完全不同于目前所有商用量产芯片的新型芯片，计算精度从1%跃升至千万分之一；可以支撑6G、具身智能及AI大模型训练等多个前沿场景；更 重要的是，它可在28纳米及以上成熟工艺量产，绕开光刻机"卡脖子"环节。 事实上，AI大模型、具身智能、6G等应用背后都是矩阵计算，AI推理是做矩阵乘法，AI训练是在解矩阵方程。而英伟达的崛起正是得益于GPU（图形处 理器）很擅长做矩阵计算。 但如今摩尔定律趋于终结，晶体管很难再微缩，所以业界现在只能横向堆计算卡：少则百卡，多则万卡、十万卡。但这样的方式我认为是不可持续的—— 能耗、碳排放均呈指数级上升，与国家"双碳"目标相悖。因此，我认为需要探索一种不同的计算范式，即模拟（类比）计算。 模拟计算并非全 ...

早盘提示 Morning session notice 更多精彩内容请关注格林大华期货官方微信 格林大华期货研究院 证监许可【2011】1288 号 2025 年 12 月 30 日 星期二 研究员： 于军礼 从业资格： F0247894 交易咨询资格：Z0000112 联系方式：yujunli@greendh.com | 板块 | 品种 | 多（空） | | | --- | --- | --- | --- | | | | | 【重要资讯】 | | | | | 1、野村预计，美联储新主席将在 6 月主导一次降息，但 FOM 内部可能强烈反对进 | | | | | 一步降息，可能引发美联储与特朗普政府之间的紧张关系。这种不确定性预计将在 | | | | 明年 | 7 月至 11 月集中爆发，届时市场可能出现"逃离美国资产"的趋势。 | | | | | 2、以色列总理将在美国佛州分别与美国国务卿和美国总统会面，可能与美方讨论 | | | | | 再次打击伊朗导弹项目的问题。伊朗总统表示，伊朗正面临与美国、以色列和欧洲 | | | | | 的"全面战争"。伊朗将对任何新的美以"侵略行为"做出更加果断的回应。 | | ...

新华财经北京12月30日电（王媛媛）2025年收官在即。这一年，注册制改革如一股强劲东风，深刻改变 IPO市场参与主体的格局，也是资本市场从"增量改革"迈向"存量优化"的深化之年。这一年，IPO市场在 新"国九条"及资本市场"1+N"系列政策支持的双重作用下，呈现出"量稳质升、结构为王"的鲜明特征， 深刻反映了经济转型与资本配置的新方向。 其中，电子行业年内上市企业19家，累计募资金额337.4亿元，位居首位。排名第二至第五的行业是汽 车、公用事业、电力设备和医药生物，这五大行业合计募资占比年内总募集资金的比例超七成。 具体来看，华电新能以181.71亿元的募资额位居首位。公司将募资额精准投向风力发电与太阳能发电项 目建设，成为传统产业绿色转型的资本标杆。摩尔线程、西安奕材紧随其后，分别以80亿元、46.36亿 元的募资额位列第二和第三。摩尔线程是国内稀缺的全功能GPU研发企业；西安奕材则专注于12英寸硅 片研发生产，产品覆盖AI芯片、存储等领域。 2025年，新股上市数量同比上一年小幅增加12.12%，来自高科技产业的企业推动了新股融资额的大幅 增长，"新质生产力"成为绝对年度募资金额主线。同时，上海证券交 ...

Advanced Micro Devices, Inc. ( AMD ) has become a dramatically larger GPU company, with a market capitalization of roughly $350 billion. In our last article, we argued the company was a poor investmentThe Value Portfolio specializes in building retirement portfolios and utilizes a fact-based research strategy to identify investments. This includes extensive readings of 10Ks, analyst commentary, market reports, and investor presentations. He invests real money in the stocks he recommends. He is the leader of ...

Shares of Nvidia sinking among the broader tech pullback here sinking down 1.3%. The company announcing last week a $20 billion non-exclusive licensing agreement with chipmaking startup Gro for Grock's inference technology. Joining me now to discuss what a deal like this means for the future of the AI race and the whole ecosystem is CNBC contributor Plexo Capitals Lo Tony.It's great to have you Lo. What what do you think of the of the structure of this deal that Nvidia is doing. It's not an allout acquisiti ...

LAST UPDATED: December 29, 2025 at 12:49 PMGUEST POST from Art InteligenciaIn the world of corporate strategy, we love to manufacture myths of inevitable visionary genius. We look at the behemoths of today and assume their current dominance was etched in stone a decade ago by a leader who could see through the fog of time. But as someone who has spent a career studying Human-Centered Innovation and the mechanics of innovation, I can tell you that the reality is often much messier. And this is no different w ...

Last week, it was reported that Nvidia Corporation ( NVDA ) will acquire AI chip start-up Groq for $20B that will see the GPU maker gain access to the firm's critical Language Processing Unit/LPUAnalyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA, AMD, GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relations ...

Last week, it was reported that Nvidia Corporation ( NVDA ) will acquire AI chip start-up Groq for $20B that will see the GPU maker gain access to the firm's critical Language Processing Unit/LPUAnalyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA, AMD, GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relations ...

Q&A 升腾产业链的最新市场表现和预期是什么？ 今天升腾供应链板块表现强劲，华丰、伟测、华正、深南等公司涨幅居前，杰 华特、南亚新材、中芯国际也有所表现。市场主要在交易 H 客户战略调整的预 期。虽然该战略调整尚未官宣，但若转向发生，将带来供应链逻辑的巨大变化。 首先，H 客户研发资源将更加集中，产品和技术迭代加速。其次，升腾系芯片 在互联网大厂中的份额有望提升，因为 H 客户自身云业务与这些互联网客户存 在竞争关系，一旦竞争关系减弱，其算力芯片的技术和产能优势将更好体现。 此外，供应商议价能力可能降低，从而改善盈利能力。因此，目前许多供应链 公司值得关注。 H 公司积极调整，缓解云业务与芯片客户的竞争，改善软件生态和 GP GPU 架构转换速度。通信板块关注与 H 芯片价值量占比稳定且利润释放 同步的环节，如液冷和服务器合作伙伴。 杰华特加速 GPU 多项和 DiMOS 国产化进程，完美适配 H 客户的 GPU 及 CPU 场景，每张卡可贡献 100-150 美元价值量。预计明年收入增长 30%-40%，并成为值得重点关注的核心标的。 华正新材在升腾产业链中的地位和未来预期如何？ 重视国产算力产业链逻辑扭转 ...

In this article, we will look at the 10 Best Performing Quantum Computing Stocks in 2025.On November 12, Ray Harishankar, IBM Fellow at IBM Research, appeared on a CNBC interview to discuss how quantum computing is quickly transitioning towards daily use. Harishankar noted that the world has made immense progress in quantum technology in the last decade, compared to other times in history. He noted that one recent example of quantum computing progress occurred a few months ago when HSBC announced its use of ...