Investor Presentation | Asia Pacific Asia Summer School: Tech Diffusion: Global AI Semi Demand and Supply Chain June 9, 2025 09:33 AM GMT As AI reshapes our daily life, the semiconductor industry faces unprecedented demand and even geopolitical tensions. In this session, we will provide an overview of the evolving global AI semi market, including the critical dynamics of the supply chain and China's accelerated AI localization push. | M | Charlie Chan | Foundation | | --- | --- | --- | | June 9, 2025 09:33 ...

Core Viewpoint - The semiconductor sector in Hong Kong and A-shares is experiencing a rise, driven by developments in domestic chip production and the impact of U.S. export restrictions on NVIDIA's products [1][2]. Group 1: Market Dynamics - NVIDIA's CEO announced that the company will not release the Hopper series for the Chinese market after the H20 chip, which has raised concerns about potential market share loss in China [1][2]. - The domestic AI chip market is expected to benefit from NVIDIA's restrictions, with analysts noting that local manufacturers may capture more market share [1][2]. - The demand for computing power in China is growing at over 35% annually, creating opportunities for domestic chips to fill the gap left by restricted high-end products [2]. Group 2: Company Developments - UCloud is focusing on building domestic GPU clusters to enhance high-performance computing infrastructure, collaborating with major domestic chip manufacturers [3]. - Cambrian Technology reported a significant turnaround in Q1, achieving revenue of 1.111 billion yuan, a year-on-year increase of 4230.22%, and a net profit of 355 million yuan, up 256.82% [4]. - The AI computing sector is seeing strong performance, with 26 out of 53 companies reporting profit increases, indicating a robust growth trend in the industry [4]. Group 3: Competitive Landscape - Despite the growth, domestic chips face technical challenges, particularly in double-precision computing and high-speed interconnects, which may hinder their competitiveness against international products [5][6]. - Performance comparisons show that while some domestic chips like Huawei's Ascend 910B outperform NVIDIA's H20 in specific metrics, they still lag in overall capabilities and ecosystem support [5][6]. - The general consensus among industry experts is that domestic chips currently lack high-end products and face challenges in versatility and cost-effectiveness compared to NVIDIA [6].

特朗普拒不妥协？美债危机倒逼中美谈判，英伟达CEO暗藏玄机 但特朗普偏要硬撑。他一边喊话要谈判，一边挥舞芯片制裁大棒，甚至点名英伟达：连"阉割版"芯片都不许卖给中国！这操作看得人直摇头：一边求着中国 接盘美债，一边又掐中国脖子，哪来的底气？ 第一部分：谈判大门敞开，特朗普为何装聋作哑？ 最近国际舆论场炸开了锅——美国突然主动向中国递出谈判"橄榄枝"，但中方回应却意味深长。商务部一句"正在评估"，既没把话说死，也没直接拒绝，反 而给特朗普政府留了个"台阶"：想谈？先拿出诚意！ 第二部分：芯片战升级，特朗普的算盘能响吗？ 特朗普的芯片政策，本质是"新瓶装旧酒"。拜登时期搞的芯片出口限制，他非但不松手，反而要加码。这次直接瞄准英伟达，要求连性能缩水的"特供版"芯 片都不准出口。表面看是"杀鸡儆猴"，逼其他国家站队；实际上，这和加征关税一个套路——人为制造筹码，逼中国让步。 可问题是，这招真的管用吗？先看数据：2024年中国芯片自给率已突破30%，预计2025年将达45%。更关键的是，华为昇腾910B、寒武纪MLU370等国产芯 片性能直追英伟达A100。黄仁勋在闭门会上那句"限制出口只会加速中国自研"，可不是客套话 ...