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摩根士丹利:Investor Presentation-中国人工智能与存储市场展望
摩根· 2025-06-11 02:16
June 9, 2025 09:08 AM GMT S. Korea Technology | Asia Pacific M Idea Investor Presentation: China AI and Memory Outlook Morgan Stanley Asia Limited+ Shawn Kim Equity Analyst Shawn.Kim@morganstanley.com +852 3963-1005 S. Korea Technology Asia Pacific Industry View Cautious Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Researc ...
Will SMCI's AI and Liquid Cooling Push Drive Long-Term Growth?
ZACKS· 2025-06-06 15:46
Core Insights - Super Micro Computer (SMCI) is experiencing strong demand for its AI infrastructure, particularly in storage and server offerings, which are providing customers with higher computational densities and lower total cost of ownership for AI services [1] Group 1: Company Performance - In Q3 of fiscal 2025, SMCI reported high volume shipments of liquid-cooled 4U NVIDIA B200 HGX systems and GB200 NVL72 racks, indicating robust demand for its AI product line [2] - The company achieved a production milestone of 5,000 racks per month, with over 2,000 being direct liquid cooling (DLC) racks, to meet the rising demand for AI solutions [3] - SMCI's enterprise data center customer vertical generated $1.9 billion in revenues, contributing to 42% of total revenues in Q3 of fiscal 2025, up from 25% in the previous quarter, highlighting the increasing significance of AI products in its revenue stream [4] Group 2: Revenue Guidance and Estimates - Due to the rising adoption of its AI infrastructure and DLC offerings, SMCI has provided revenue guidance of $21.8-$22.6 billion for fiscal 2025, with a Zacks Consensus Estimate of $22.12 billion, reflecting a year-over-year growth of 48% [5] - Despite the strong revenue growth forecast, earnings estimates for fiscal 2025 indicate a decline of 6.33% year-over-year, while estimates for fiscal 2026 suggest a recovery with a growth of 35.75% [13] Group 3: Competitive Landscape - SMCI faces strong competition from Hewlett Packard Enterprise (HPE) and Dell Technologies (DELL) in the server market, with HPE recently entering the AI infrastructure space and reporting a 6% year-over-year growth in server segment sales due to demand for AI servers [6][7] - Dell also offers a variety of server solutions, including PowerEdge Rack Servers and Modular Infrastructure, positioning itself as a competitor in the AI-server market alongside HPE [8] Group 4: Valuation Metrics - SMCI's shares have increased by 33.8% year-to-date, contrasting with a decline of 1.6% in the Zacks Computer-Storage Devices industry [9] - The company trades at a forward price-to-sales ratio of 0.82X, which is lower than the industry average of 1.65X, indicating a potentially attractive valuation [12]
英伟达:美国禁令逼走大量人才,大多去了华为;雷军辟谣YU7低价传闻,称小米汽车业务将在今年内盈利;华为云中国区总裁换人丨雷峰早报
雷峰网· 2025-06-04 00:44
要闻提示 NEWS REMIND 1.贾跃亭哽咽告白:FF命悬一线时,是散户救了我们! 8.智能眼镜大战一触即发!爆Meta急调战略聚焦开发"超轻薄开放式头显" 5.短剧行业新变局!抖音、红果短剧组建版权中心,高质量内容争夺战升级 6.英伟达:美国禁令逼走大量人才、大多去了华为 7.NVIDIA新中国特供B30曝光:支持多GPU扩展,售价仅H20六折 2.提报项目被砍一半!蔚来精细化管理研发投入,非必要研发不予立项 3.雷军强硬辟谣YU7低价传闻,称小米汽车业务将在今年内盈利 4.华为云中国区总裁换人!陈林接棒张修征 今日头条 HEADLINE NEWS 贾跃亭称,FF曾一度面临生死存亡的危机。他透露,去年三四月份时,公司几乎濒临倒闭,"可以说90% 以上公司内部的人都认为要倒闭,只有极少数的人认为我们还有机会。"目前FF虽然仍处于艰难时期,但 贾跃亭认为与去年同期相比已有显著改善。 据悉,FF去年同时面临股价暴跌至几分钱、随时退市风险、资金紧张濒临破产等危机,董事会多次紧急商 讨对策。贾跃亭坦言,"我们对机构投资者可以说付出了我们一切",但真正在危急时刻伸出援手的却是普 通投资者。他表态:"通过我们接下来一 ...