Investment Rating - The report maintains an "Outperform" rating for the communication industry, indicating expected growth exceeding the benchmark index by over 10% [1][40]. Core Insights - Nvidia's acquisition of Groq for $20 billion highlights the rapid growth in AI inference demand, driven by low-latency inference technology [2][14]. - Groq's revenue is projected to reach $500 million in 2025, with estimates of $1.2 billion and $1.9 billion for 2026 and 2027 respectively, and a recent valuation of $6.9 billion [3][14]. - The report emphasizes the importance of deterministic computing and networking in Groq's technology, which will synergize with Nvidia's capabilities, enhancing the demand for high-speed interconnects and optical modules [4][15]. Summary by Sections Industry Trends - Nvidia's acquisition of Groq signifies a strategic move towards enhancing AI inference capabilities, with Groq's unique chip innovations expected to drive market growth [2][14]. - The report notes that the optimal architecture for inference is still evolving, providing opportunities for both GPGPU and ASIC markets, which is encouraging for domestic companies entering the market [4][15]. Market Performance - The overall market saw an increase during the week of December 22-26, 2025, with the Shenwan Communication Index rising by 4.07% and the ChiNext Index by 3.90% [8][18]. - The satellite communication sector led the gains with a weekly increase of 29.13%, followed by liquid cooling and connectors [8][18]. Company Recommendations - The report suggests focusing on companies within the Nvidia ecosystem, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication, as well as those in the commercial aerospace sector like Shanghai Hanyun and XinKe Mobile [6][18].

Groq 投资方 Disruptive Technology Advisers 的首席执行官 Alex Davis 透露，该交易价值 200 亿美元，较 该初创企业 2024 年 9 月的估值高出 131 亿美元。 整理 | 华卫 昨夜，AI 芯片初创企业 Groq 宣布，英伟达将以非独家授权的形式获得其技术授权。作为一项技术授权 协议的一部分，创办 Groq 的前谷歌芯片工程师 Jonathan Ross 以及该初创企业的总裁 Sunny Madra 等多 名 Groq 核心员工将加入英伟达。 Groq 成立于 2016 年，专注于研发可加速 AI "推理" 的芯片。所谓 "推理"，即通过 OpenAI 的 ChatGPT 或谷歌的 Gemini 等聊天机器人，向用户的查询返回响应的过程。这家初创企业最近一次估值为 69 亿美 元（2024 年 9 月），当时其完成了 7.5 亿美元的融资。 1挖角核心人才还不够，收走 Groq 最强 "推理技术" "我们计划将 Groq 的低延迟处理器整合到英伟达 AI 工厂架构中，扩展该平台以服务更广泛的 AI 推理 及实时工作负载。" 英伟达首席执行官黄仁勋（Jens ...