Group 1 - Morgan Stanley's latest report indicates that the uncertainty surrounding Google's self-developed AI chip TPU (Tensor Processing Unit) supply chain is diminishing, with expectations for explosive growth in production over the next two years, suggesting that Google may be preparing to sell TPU chips on a large scale to third parties [1] - The production forecast for Google's TPU has been significantly raised for 2027 and 2028, with the 2027 estimate increased from approximately 3 million units to about 5 million units, representing a growth of around 67% [1] - Each sale of 500,000 TPU chips could potentially add approximately $13 billion in revenue for Google in 2027, indicating a substantial new revenue source if the "external sales" model is initiated [1] Group 2 - The global AI inference market is projected to reach $150 billion by 2028, with a compound annual growth rate (CAGR) exceeding 40%, significantly higher than the 20% growth rate expected for the training market [1] - Barclays predicts that by 2026, the demand for AI inference computing will be 4.5 times that of training demand, accounting for over 70% of total general AI computing demand [1] - The increase in sales of Google's TPU chips is expected to create development opportunities in new niche markets such as optical circuit switching (OCS) [1] Group 3 - Tengjing Technology has signed a single procurement order for YVO4 (Yttrium Vanadate Crystal) worth 87.606 million yuan, with order signing speed exceeding expectations; YVO4 is a core material for OCS [2] - Guangku Technology is actively expanding its OCS optical device business and is venturing into the OCS optical switch OEM field [3]

Core Viewpoint - Tengjing Technology (688195.SH) announced that its subsidiary, Hefei Zhongbo, has received a single procurement order for YVO4 (Yttrium Vanadate Crystal) products from a client, with a total amount of RMB 87.606 million (excluding tax) [1] Group 1 - The order amount for the YVO4 products is significant, totaling RMB 87.606 million [1]

Core Viewpoint - Tengjing Technology (688195.SH) announced that its subsidiary Hefei Zhongbo has received a single purchase order for YVO4 (Yttrium Vanadate Crystal) products from a customer, with a total amount of RMB 87.606 million (excluding tax) [1] Group 1 - The purchase order signifies a significant business opportunity for the company in the YVO4 product segment [1] - The total value of the order is substantial, indicating strong demand for the company's products [1]