Investment Rating - The report maintains an investment rating of "Outperform" with a target to exceed the market by 10% or more over the next six months [4]. Core Insights - NVIDIA has launched its 800VDC power architecture aimed at AI data centers, marking a significant advancement in AI infrastructure, with plans to increase power capacity from 200kW to 1MW per cabinet [1]. - Oracle has expanded its partnership with AMD, planning to deploy 50,000 AI chips starting Q3 2026, enhancing AMD's competitive position against NVIDIA [2]. - Samsung's Q3 performance has significantly improved, with operating profit reaching 12.1 trillion KRW (approximately 605.21 billion RMB), a year-on-year increase of 31.81% driven by rising storage chip prices [3]. Summary by Sections Industry Performance - The electronic sector has seen a relative return of -2.6% over the past month, 15.5% over three months, and 35.5% over the past year, while absolute returns were -3.5%, 27.4%, and 54.7% respectively [6]. - The electronic index PE stands at 67.51 times, with a 10-year PE percentile of 88.52% [9][35]. Company Developments - NVIDIA's new architecture utilizes GaN technology, improving system efficiency by 10-13% and power density by over 50% [1]. - AMD's collaboration with Oracle and OpenAI is expected to bolster its market share in AI chips, with AMD's shipments reaching approximately 100,000 units in Q2 2025 compared to NVIDIA's 1.5 million units [2]. - Samsung's sales in Q3 reached 86 trillion KRW, a historical high, benefiting from the AI-driven demand for memory chips [3]. Investment Recommendations - The report suggests focusing on companies in various sectors: for computing power, companies like Feirongda and Xingsen Technology; for storage, companies like Zhaoyi Innovation and Bawei Storage; for domestic alternatives, companies like Northern Huachuang and Zhongwei Company; and for AI terminals, companies like Amlogic and Lixun Precision [10].

全球算力大战白热化，巨头们疯狂推进"AI基建潮"。 当地时间周三，由贝莱德、英伟达、微软等组成的财团宣布，将以400亿美元（约2850亿元）的价格收 购全球最大的数据中心运营商之一。 豪掷400亿！ 大模型疯狂迭代，AI基建成为新争夺战场。 据外媒报道，贝莱德新成立的人工智能基础设施联盟（"GIP"）已同意从麦格理资产管理公司手中收购 Aligned Data Centers 100%的股权，估值约为400亿美元。 另外，阿布扎比主权财富基金Mubadala Investment旗下的人工智能投资公司MGX将与GIP共同出资，投 资财团名为"AI基础设施合作伙伴关系"（AIP）。 这笔交易是数据中心领域有史以来规模最大的交易之一。预计将在2026年上半年完成，但需获得监管部 门批准。 据悉，总部位于得州的Aligned是全球最大且增长最快的数据中心公司之一。 其主要为云和AI公司提供基础设施，业务遍及美国和拉丁美洲。 公司共拥有50个园区、78个在管及在建数据中心，总运营和规划容量超过5吉瓦。 今年1月，该公司获得包括麦格理管理基金在内的投资者逾120亿美元股权与债务承诺。 值得一提的是，本次交易也是由英伟达 ...