2026.01.07 本文字数：2556，阅读时长大约5分钟 作者 |第一财经 刘佳 当地时间1月6日，拉斯维加斯夜幕降临，在世界上最大的球形建筑Sphere里，英伟达CEO黄仁勋、英特 尔CEO陈立武、AMD CEO苏姿丰、高通CEO安蒙相继登场。 在芯片行业竞争日趋激烈、技术路线与生态之争持续升级的背景下，这四家芯片巨头中既有合作伙伴， 也有彼此最直接的竞争者。尽管它们同处AI叙事框架，却鲜少出现在同一舞台。 这一次将四大巨头共同推至舞台中央的，是联想。在CES 2026期间举行的联想全球创新科技大会 （Tech World）上，芯片四巨头齐聚，也清晰地勾勒出一个正在重塑中的产业逻辑：当AI从训练走向推 理、从云端走向本地与边缘，成为枢纽的，不再只是单一芯片厂商，而是能够整合多元算力、打通智能 硬件场景落地的系统级玩家。 黄仁勋：重塑10万亿美元产业 黄仁勋是当晚最先点燃现场气氛的嘉宾。 几天前，他刚刚与联想集团董事长杨元庆碰面，二人立下新年合作目标——未来三年内，将双方的业务 合作规模扩大至原来的四倍。 过去三十年里，联想与英伟达的合作涵盖了从个人电脑、工作站到高性能计算、GPU 服务器、机器人 等。 ...

Core Viewpoint - The article highlights the collaboration and competition among major chip manufacturers, including NVIDIA, Intel, AMD, and Qualcomm, during the Lenovo Tech World event, emphasizing the shift in the AI landscape from training to inference and the need for integrated systems that can leverage diverse computing power [3][4]. Group 1: Collaboration and New Opportunities - NVIDIA's CEO Jensen Huang and Lenovo's Chairman Yang Yuanqing aim to quadruple their business collaboration over the next three years, reflecting a long-standing partnership that has evolved through various technological shifts [5][6]. - The collaboration focuses on the "Lenovo AI Cloud Super Factory," which aims to standardize AI infrastructure, transforming highly customized AI deployments into industrialized solutions [6][8]. - This partnership is expected to help cloud service providers reduce the "time to first token" for AI deployment and scale up to support trillion-parameter models [8]. Group 2: Competitive Landscape - AMD's CEO Lisa Su introduced the Helios rack-level AI platform, positioning it as a challenge to NVIDIA's GPU-centric approach, emphasizing the need for robust system-level infrastructure to support larger models and higher throughput [10][11]. - Intel's new CEO Pat Gelsinger announced the Aura Edition AI PC, showcasing a shift from traditional PCs to AI-enhanced computing experiences, indicating a blend of legacy computing with new AI paradigms [11]. - Qualcomm's CEO Cristiano Amon focused on AI-native endpoints, highlighting the evolution of wearable devices into "personal intelligent companions," which aligns with Lenovo's strengths in ecosystem and global channels [12]. Group 3: Industry Trends and Insights - The article notes that the market for wearable devices is expected to exceed one billion units, indicating significant growth potential in this segment [13]. - The collaboration among the four chip giants illustrates a new industry consensus that the true value of AI lies not in having the most powerful chip, but in the ability to transform computing power into usable capabilities for businesses and users [13].

【杨元庆：#联想称与英伟达合作规模将翻四番#】在2026年国际消费电子展（CES 2026）期间，联想 创新科技大会举行，联想集团董事长兼CEO杨元庆现场披露，联想未来3-4年内与英伟达的业务合作规 模将实现翻四番的目标。 杨元庆透露，不久前英伟达在总部为联想举办了一场"合作伙伴日"活动。双方展示了包括个人电脑、 GPU服务器、数据中心、具身智能、机器人、车载计算等成果。杨元庆认为，联想与英伟达长达30年的 战略合作已迈上了一个崭新的里程碑，人工智能时代为联想和英伟达都带来了前所未有的发展机遇。# 直击2026CES# ...

新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任编辑：王翔 专题：联想创新科技大会 专题：联想创新科技大会 新浪科技讯 1月7日上午消息，在2026年国际消费电子展（CES 2026）期间，联想创新科技大会举行， 联想集团董事长兼CEO杨元庆现场披露，联想未来3-4年内与英伟达的业务合作规模将实现翻四番的目 标。 杨元庆透露，不久前英伟达在总部为联想举办了一场"合作伙伴日"活动。双方展示了包括个人电脑、 GPU服务器、数据中心、具身智能、机器人、车载计算等成果。杨元庆认为，联想与英伟达长达30年的 战略合作已迈上了一个崭新的里程碑，人工智能时代为联想和英伟达都带来了前所未有的发展机遇。 新浪科技讯 1月7日上午消息，在2026年国际消费电子展（CES 2026）期间，联想创新科技大会举行， 联想集团董事长兼CEO杨元庆现场披露，联想未来3-4年内与英伟达的业务合作规模将实现翻四番的目 标。 杨元庆透露，不久前英伟达在总部为联想举办了一场"合作伙伴日"活动。双方展示了包括个人电脑、 GPU服务器、数据中心、具身智能、机器人、 ...

Wind数据显示，截至2026年1月5日中国证券报记者发稿时，已有超过250只标的入围券商2026年1月"金 股"组合，中际旭创成为最受关注的标的。回顾券商"金股"组合2025年表现，Wind收录的34只券商金股 指数在2025年均实现正收益，表现最强的国元证券金股指数全年累计收益超过100%。 1月5日，A股三大股指集体上涨，迎来2026年开门红。展望后市走势，业内人士认为，1月A股继续演绎 春季行情的概率较高，且因1月为上市公司年报业绩预告密集披露期，因此市场对基本面验证的关注度 将显著提升，配置上应适当规避缺乏业绩兑现能力的纯主题性质个股。 回顾券商"金股"组合2025年整体表现，Wind数据收录的34只券商金股指数在当年均实现正收益，但收 益率分化十分明显。 在中国银河看来，随着互联网巨头对于AI及大模型的布局逐步深入，以GPU服务器引领智算底座或将 成为未来的主要发展方向之一。硅光光模块渗透率提升、数据中心内部连接方案进步以及1.6T光模块需 求量提升，预计将对中际旭创业绩进一步产生积极影响。公司作为光模块行业龙头企业，在行业高成长 性已显现的基础上有望持续受益。 根据Wind数据，截至2026年1 ...

（来源：半导体前线） 鸿海今年前11个月营收7.23万亿新台币，首度突破7万亿新台币，已超越2024年全年营收6.86万亿新台 币，今年营运确定创新高。随着人工智能（AI）服务器快速增长，加上ICT产品稳健成长，2026年业绩 将续战新高。 今年前11个月营收为7.23兆元新台币，首度破7兆元新台币，年增16.6%，创同期新高。「云端网络产品 类别」及「组件及其他产品类别」与去年同期相比强劲成长，主要是AI云端产品拉货动能强劲。「计 算机终端产品类别」和「消费智能产品类别」则表现约略持平。 展望第4季，鸿海表示，AI机柜出货持续放量，ICT产品进入旺季，对于第4季的能见度优于前月，整体 表现约与目前市场预期相当。 鸿海董事长刘扬伟之前表示，明年不管英伟达（NVIDIA）GPU服务器或是ASIC服务器，鸿海都可以依 照各户需求提供，目前在各平台的市占率都超过四成。市场看好2026年的ASIC服务器维持高速甚至翻 倍成长，鸿海也受惠，出货比例上也趋近市场预估GPU与ASIC占比约8:2。 刘扬伟指出，鸿海目前每周产能超过1,000个AI服务器机柜，目标是2026年底每周组装产能逾2,000个。 为了深化美国市场， ...

Group 1 - Jemete planned to acquire control of Sitenhe Technology Co., Ltd. through a cash transaction but announced the termination of the major asset restructuring due to failure to reach agreement on core terms [4] - The termination of the transaction was mutually agreed upon by all parties involved, and no party will bear any breach of contract liability [4] - Sitenhe Technology is a high-tech enterprise focused on artificial intelligence computing infrastructure, headquartered in Tianjin, with branches in major cities [4] Group 2 - Sitenhe Technology provides comprehensive hardware solutions and deep services for AI, big data, and cloud computing [4] - The company aligns with national strategic initiatives by offering AI servers and solutions based on domestic processors and acceleration cards [4] - Sitenhe's products are widely used in critical industries such as government, finance, and energy [4]

Core Insights - The article highlights a significant shift in the procurement strategy of AI computing power by top universities, moving from traditional hardware specifications to practical performance and compatibility with mainstream AI models like DeepSeek and Qwen [1][10]. Procurement Strategy - The procurement document emphasizes the importance of practical performance and compatibility over mere hardware specifications, marking a departure from the previous focus on "parameter stacking" [3][10]. - The core requirements include a focus on domestic production, ensuring real-world performance, and compatibility with existing CUDA ecosystems [3][10]. Technical Specifications - The procurement specifies the need for 13 GPU servers, with detailed requirements for CPU, memory, storage, and network capabilities, emphasizing the use of domestic components [4][6][8]. - Key performance indicators include the ability to run specific AI models under defined conditions, such as maintaining low latency and high throughput during inference tasks [9][11]. Trends in AI Computing Power Procurement - The article identifies three major trends in GPU server procurement by universities: 1. Transitioning from "indicator comparison" to "model testing" [10]. 2. Moving from a "NVIDIA-dominated ecosystem" to a "domestic compatible ecosystem" [10]. 3. Shifting focus from "hardware procurement" to "computing power system construction" [11]. Market Implications - The procurement strategy indicates a growing demand for domestic AI computing solutions that can effectively replace imported technologies, thereby fostering the development of a robust domestic AI ecosystem [12]. - Companies like Haiguang, Biran, and Muxi are highlighted as potential suppliers capable of meeting these stringent requirements, showcasing advancements in their GPU and CPU technologies [11][12].

Core Viewpoint - ZTE Corporation has won a bid for the construction of a new AI inference resource pool for China Unicom in Henan, marking a significant advancement in telecom operators' layout in the AI computing power sector [1][6]. Group 1: Project Details - The project involves the procurement of 64 GPU servers and 26 RoCE switches, aimed at building an AI inference resource pool covering seven provinces in Central and Western China [2][5]. - The project budget is set at 74.26 million yuan (excluding tax), with ZTE winning the bid at 71.709 million yuan, achieving a cost saving of approximately 3.4% [2]. Group 2: Technical Aspects - The application of RoCE (RDMA over Converged Ethernet) technology is a highlight, enabling remote direct data access over Ethernet, significantly reducing data transmission latency within GPU clusters, which is crucial for efficient AI inference tasks [5]. - The project focuses on "inference resource pools," indicating that China Unicom aims to target the application of AI models in practical business scenarios rather than competing directly with major internet companies in large-scale model training [5]. Group 3: Market Positioning - This project is part of China Unicom's AI action plan and will support the demand for intelligent computing opportunities both within and outside the province [6]. - The launch of the Henan Unicom intelligent computing center project signifies an escalation in the competition among the three major telecom operators in the computing power infrastructure sector [6]. Group 4: Company Strategy and Future Orders - ZTE Corporation's successful bid was made in a consortium with Shenzhen ZTE Technology Service Company, showcasing its overall strength in the intelligent computing infrastructure field [8]. - In addition to the Henan project, ZTE has secured significant orders in the AI server procurement project with China Mobile, indicating a strong foothold in the AI computing market [10][11].

Core Insights - The domestic computing power industry in China is entering a period of explosive growth by 2025, driven by high capital expenditure from major companies and a consensus on domestic computing power [1][2] - The industry is transitioning from the first phase of scale expansion to the second phase, which focuses on deep integration with the real economy and value creation [1] - The light module sector is expected to benefit significantly from this computing power revolution [1] Demand Side - Major companies are maintaining high growth in capital expenditure, contributing to the consensus on domestic computing power [2] - By 2025, China's intelligent computing power scale is projected to reach 1037.3 EFLOPS, with a compound annual growth rate of 46.2% from 2023 to 2028 [3] - The global AI computing power market is expected to reach $1.2 trillion by 2025, with China accounting for 38% of this market [3] Supply Side - Breakthroughs in advanced processes and innovations from companies like Cambrian and Moore Threads are leading to revenue growth [2] - The domestic computing power industry is gradually forming a self-controlled supply chain, supported by significant R&D investments [4] - Companies like Zhongji Xuchuang and NewEase have shown strong financial performance, with Zhongji Xuchuang achieving a revenue of 14.789 billion yuan in the first half of 2025, a year-on-year increase of 36.95% [4] Market Dynamics - The light module market is experiencing a surge in demand, particularly for high-speed products, with Zhongji Xuchuang's gross margin reaching 39.96% [4][5] - The competition landscape shows that Chinese manufacturers dominate the global midstream market, with Zhongji Xuchuang and NewEase ranking among the top three globally [6] - The growth of GPU servers and the increasing penetration of silicon photonic modules are expected to drive further demand for light modules [7] Future Outlook - The capital expenditure of four major overseas cloud companies is expected to increase by 50% to $333.8 billion in 2025 [8] - The demand for light modules is anticipated to continue growing due to advancements in AI and deep learning applications [7][8] - Companies are focusing on high-quality delivery capabilities and supply chain management to maintain competitive advantages in the market [9]