警报拉响！摩根士丹利：2026下半年迎“需求毁灭”，半导体将暴跌40%？

发布于 2026-05-05

<section nodeleaf=""><iframe data-src="https://mp.weixin.qq.com/mp/readtemplate?t=pages/video_player_tmpl&action=mpvideo&auto=0&vid=wxv_4491067275189534722" data-mpvid="wxv_4491067275189534722" data-vidtype="2" data-cover="http%3A%2F%2Fmmbiz.qpic.cn%2Fsz_mmbiz_jpg%2F9alt9LFC5gzgBtePuqPRtFNibCmpD4ibffppYdwpsVEF7hJMlVP42XY7pichgLalyaribeyLeiavkuqx4jial1s2vBQo7KkKeAVb9Ec1Swms89hYw%2F0%3Fwx_fmt%3Djpeg" data-ratio="1.7777777777777777" data-w="1280" class="video_iframe rich_pages"></iframe></section><section data-layout-id="0" style="font-size: 20px;font-weight: 500;color: rgb(42, 174, 103);line-height: 1.8;margin-bottom: 12px;text-align: center;">åºè¨ï¼ç§æè¡ä¸çâä¸ä¸ååºâååä¸èå¼è½¬ç§»</section><section data-layout-id="1" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">äºé¶äºåå¹´çå¨çç§æäº§ä¸æ£ç½®èº«äºä¸ä¸ªåææªæçåå²æ§ååè·¯å£ãå¦æè¯´äºé¶äºåå¹´åäºé¶äºäºå¹´æ¯äººå·¥æºè½ï¼AIï¼åºç¡è®¾æ½å¤§è§æ¨¡å»ºè®¾çâçé£æ¶ä»£âï¼é£ä¹äºé¶äºåå¹´åè¢«æ©æ 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1.8;margin-bottom: 12px;text-align: center;">ç¬¬ä¸ç« åå¯¼ä½å¨æçåå²å»ºæ¨¡ä¸äºé¶äºåå¹´çæç¹é¢å¤</h1><h2 data-layout-id="4" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">åå¯¼ä½è¡ä¸çå¨æå¾ï¼åå²æ°æ®çå¯ç¤º</h2><section data-layout-id="5" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">åå¯¼ä½è¡ä¸èªä¸ä¹ä¹ä¸å¹´ä»¥æ¥è¡¨ç°åºæå¼ºçå¨ææ§æ³¢å¨ç¹å¾ãéè¿å¯¹è´¹ååå¯¼ä½ææ°ï¼SOX Indexï¼è¿å»æ°åå¹´çèµ°å¿ç»è®¡ï¼å¯ä»¥åç°ä¸ä¸ªè§å¾æ§çæ¶¨è·æ¨¡åãéå¸¸æåµä¸ï¼è¡ä¸ä»å³°å¼åè½è³è°·åºçå¹³ååè°å¹åº¦çº¦ä¸º41%ï¼å¹³åèæ¶çº¦316 å¤©ï¼èä»è°·åºæåè³ä¸ä¸ä¸ªå³°å¼çå¹³åæ¶¨å¹åé«è¾¾ 164%ï¼å¹³åèæ¶çº¦580 å¤©ã</section><table style="border-collapse:collapse;width:538px;margin-left:5.4000pt;mso-table-layout-alt:fixed;border:none;mso-border-left-alt:0.7500pt solid rgb(0,0,0);mso-border-top-alt:0.7500pt solid rgb(0,0,0);mso-border-right-alt:0.7500pt solid rgb(0,0,0);mso-border-bottom-alt:0.7500pt solid rgb(0,0,0);mso-border-insideh:0.7500pt solid rgb(0,0,0);mso-border-insidev:0.7500pt solid rgb(0,0,0);mso-padding-alt:5.0000pt 5.0000pt 5.0000pt 5.0000pt;"><tbody><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-width: 1pt;border-style: solid;border-color: rgb(0, 0, 0);">å¨æèµ·å§å³°å¼æ¥æ</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">è°·åºæ¥æ</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">è·è³è°·åºå¤©æ°</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">åè°å¹åº¦(%)</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">ä¸ä¸å³°å¼æ¥æ</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">è°·åºè³ä¸ä¸å³°å¼å¤©æ°</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">å¨ææ¶¨å¹(%)</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">1997-08-20</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">1998-10-07</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">413</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-53</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2000-03-10</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">520</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">596</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2000-03-10</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2002-10-09</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">943</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-84</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2004-01-12</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">460</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">162</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2004-01-12</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2004-09-08</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">240</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-37</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2006-02-08</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">518</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">56</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2006-02-08</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2006-07-21</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">163</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-30</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2007-07-17</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">361</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">42</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2007-07-17</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2008-11-20</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">492</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-69</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2011-02-17</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">819</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">176</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2011-02-17</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2011-10-03</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">228</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-31</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2012-03-27</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">176</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">35</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2015-06-01</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2016-02-11</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">255</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-25</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2018-03-12</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">760</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">159</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2021-12-27</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2022-10-14</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">291</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-46</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2024-07-10</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">635</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">173</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">å¹³åå¼(1997-2020)</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">--</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">316</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-41</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">--</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">580</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">164</td></tr><tr><td data-colwidth="96" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">å½åå¨æ(2024å¼å§)</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2025-04-08 (e)</td><td data-colwidth="64" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">272</td><td data-colwidth="61" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-40</td><td data-colwidth="99" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2026-04-23 (e)</td><td data-colwidth="68" width="89" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">380</td><td data-colwidth="51" width="89" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">185</td></tr></tbody></table><section data-layout-id="7" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">äºé¶äºåå¹´ä¸æï¼å¨çåå¯¼ä½è¡ä¸å¼å¯äºæ°ä¸è½®å¨æãæ¨¡åé¢æµæ¾ç¤ºï¼å¨ç»åäºäºé¶äºäºå¹´ä¸åå¹´ççæåè°åï¼äºé¶äºåå¹´åæå°è¿æ¥å¨æçé¡¶ç¹ãäºé¶äºåå¹´å¨å¹´çåå¯¼ä½æ»æ¶å¥é¢è®¡å°é£åè³1.6 ä¸äº¿ç¾åï¼åæ¯å¢é¿ççº¦ä¸º96%ï¼è¿ä¸æ°æ®åæ äºå¸åºå¯¹AIç¡¬ä»¶è¿ä¹ç¯ççéæ± ã</section><h2 data-layout-id="8" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">ä¸ååºçæå½±ï¼éæ±ç ´åä¸ä»·æ ¼å¼¹æ§çå´©å¡</h2><section data-layout-id="9" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">ç¶èï¼äºé¶äºåå¹´çç¹è£å¹¶éæ¯«æ ä»£ä»·ãæ©æ ¹å£«ä¸¹å©çç ç©¶åæå¸æåºï¼äºé¶äºåå¹´ä¸åå¹´å°æä¸ºç§æè¡ä¸çä¸ä¸ªéè¦âåæ°´å²â ãæ¯æä¸åå¹´å¢é¿çå¨åä¸»è¦æ¥èªAIèµæ¬æ¯åºçæ¯æ§åå¤§å®ååï¼å¦åå¨è¯çï¼ççç¼ºæº¢ä»·ãä½è¿å¥ä¸åå¹´åï¼æ¶åå å·¥ãåè¿å°è£ä»¥ååå¨è¯ççææ¬ä¸æ¶¨å°æç»ä¼ å¯¼è³ç»ç«¯äº§åï¼å¦æºè½ææºåä¸ªäººçµèï¼PCï¼ã</section><section data-layout-id="10" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">è¿ç§ææ¬ä¼ å¯¼ä¼å¯¼è´ç»ç«¯å¸åºçâéæ±ç ´åâãå¯¹äºæ¶è´¹èèè¨ï¼æè´µçç©ææ¸åï¼BOMï¼ææ¬å°è¿«ä½¿é¶å®åæé«ä»·æ ¼ï¼ä»èæå¶å¤§ä¼å¸åºçæ¢æºæ¬²æãç¹å«æ¯å¨è¾¹ç¼AIï¼Edge AIï¼é¢åï¼ç±äºBOMææ¬æ¿å¢ï¼æºè½ææºåPCå¯¹AIåè½çæ®åéåº¦å¯è½ä½äºå¸åºé¢æãGartnerçé¢æµè¿ä¸æ¥ä½è¯äºè¿ä¸è§ç¹ï¼ç±äºåå¨ææ¬æ¿å¢ï¼äºé¶äºåå¹´å¨çPCåºè´§éé¢è®¡å°ä¸é10.4%ï¼æºè½ææºåºè´§éå°ä¸é8.4%ã</section><h1 data-layout-id="11" style="font-size: 20px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;text-align: center;">ç¬¬äºç« åå¨è¯ççâå²è¯çº§âçç¼ºä¸ä¾åºé¾å±æº</h1><h2 data-layout-id="12" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">HBMï¼ç®åæ¶ä»£çè¡èä¸æå¤§ç¶é¢</h2>å¨äºé¶äºåå¹´çç§æçå¾ä¸ï¼å¨æéæºåååå¨å¨ï¼DRAMï¼å·²ä»ä¼ ç»çå¨ææ§ç»ä»¶è·åä¸ºæç¥çº§èµæºãç¹å«æ¯é«å¸¦å®½ååï¼HBMï¼ï¼ç±äºå¶å¨AIæ¨çåè®ç»ä¸çæ ¸å¿ä½ç¨ï¼å·²æä¸ºæ´ä¸ªä¾åºé¾ä¸æä¸¥éçç¶é¢ã<section data-layout-id="14" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">æ ¹æ®å¯¹å¨çä¸å¤§åå¨ä¾åºåï¼ä¸æãSKæµ·åå£«ãç¾åï¼çäº§è½åè¯çå»ºæ¨¡ï¼äºé¶äºåå¹´HBMçä¾åºåè¶³çå°éè³æä½ç2%ï¼èè¿ä¸æ°åå¨äºé¶äºä¸å¹´å°ä¸º69%ãè¿æå³çï¼å°½ç®¡å¨çè¯çè®¾è®¡åå¯¹HBMçéæ±å¦é¥¥ä¼¼æ¸´ï¼ä½å®éè½å¤è·å¾ä¾åºçè§æ¨¡ä»ä¸ºéæ±çä¸å°é¨åã</section><table style="border-collapse:collapse;width:493px;margin-left:5.4000pt;mso-table-layout-alt:fixed;border:none;mso-border-left-alt:0.7500pt solid rgb(0,0,0);mso-border-top-alt:0.7500pt solid rgb(0,0,0);mso-border-right-alt:0.7500pt solid rgb(0,0,0);mso-border-bottom-alt:0.7500pt solid rgb(0,0,0);mso-border-insideh:0.7500pt solid rgb(0,0,0);mso-border-insidev:0.7500pt solid rgb(0,0,0);mso-padding-alt:5.0000pt 5.0000pt 5.0000pt 5.0000pt;"><tbody><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-width: 1pt;border-style: solid;border-color: rgb(0, 0, 0);">HBM ä¾éææ é¢æµ</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">2023</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">2024</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">2025</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">2026e</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ»äº§è½(K wpm)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">93</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">270</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">360</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">510</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ¨ç®HBM äº§é (mn Gb)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">3,150</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">11,436</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">22,765</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">31,091</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">HBM æ»éæ± (mn Gb)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">1,866</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">9,059</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">19,161</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">30,565</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">HBM ä¾åºåè¶³ç (%)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">69</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">26</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">19</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">åååDRAM æ»éæ± (mn Gb)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">209,527</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">243,423</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">291,615</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">363,968</td></tr><tr><td data-colwidth="219" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ»DRAM åè¶³ç (%)</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-4</td><td data-colwidth="71" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-5</td><td data-colwidth="69" width="124" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-2</td><td data-colwidth="67" width="124" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">-8</td></tr></tbody></table><h2 data-layout-id="16" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">ä¸å·¨å¤´çåå¼ï¼ä¸æãSKæµ·åå£«ä¸ç¾åçäº§è½èµè·</h2>ä¸ºäºåºå¯¹å²æ åä¾ççç¼ºï¼åå¨å·¨å¤´ä»¬æ£å¨å±å¼æ¿ççäº§è½æ©å¼ ä¸ææ¯ç«èµã<section data-layout-id="18" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">âSKæµ·åå£«ï¼SK Hynixï¼ï¼ä½ä¸ºç®åHBMå¸åºçé¢åèï¼SKæµ·åå£«å¨äºé¶äºåå¹´ç»§ç»ç»´ææ»¡äº§ç¶æãå¶å¨æ¸å·æ°å»ºçHBMå·¥åé¢è®¡å°å¨äºé¶äºåå¹´æä¾ä¸»è¦å¢éï¼ä½å¬å¸è¦åç§°ï¼æ¶åä¾åºåçäº§ç©çéå¶å°å¯¼è´çç¼ºå¯è½æç»å°äºé¶äºä¸å¹´ä¹åã</section><section data-layout-id="19" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">âä¸æçµåï¼Samsungï¼ï¼ä¸æååå¶âå¨è½âä¼å¿ï¼åå+æ¶åä»£å·¥+åè¿å°è£ï¼ï¼æ£å¨å éå¶ HBM4 å HBM4e çåä¸åè¿ç¨ãä¸æå¨NVIDIA GTC 2026 ä¸å±ç¤ºäºç¬¬åä»£ HBM4ï¼å¶å¤çéåº¦è¾¾å° 11.7 Gbpsï¼è¾åä»£æåæ¾èãä¸æé¢è®¡äºé¶äºåå¹´å¶ HBM éå®é¢å°æ¯äºé¶äºäºå¹´å¢é¿ä¸åä»¥ä¸ã</section><section data-layout-id="20" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">âç¾åç§æï¼Micronï¼ï¼ç¾åå¨äºé¶äºåå¹´æåå°å¶HBM äº§è½æåè³ 90K wpmï¼è½ç¶åºæ°è¾å°ï¼ä½å¨é«ç«¯èç¹ä¸è¡¨ç°å¼ºå²ãç¶èï¼ç¾åçæ°å·¥åï¼å¦ç±è¾¾è·å·åæ°å å¡åï¼é¢è®¡è¦å°äºé¶äºä¸å¹´æè½çæ£è´¡ç®äº§åºã</section><h2 data-layout-id="21" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 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none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">GPU è®¡ç®å»¶è¿å æ¯ (%)</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">ç®åç¶é¢å±æ§</td></tr><tr><td data-colwidth="230" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">èå¤©æºå¨äºº(åºå)</td><td data-colwidth="93" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">10</td><td data-colwidth="95" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">90</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">GPU éåº¦å</td></tr><tr><td data-colwidth="230" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">RAG (æ£ç´¢å¢å¼ºçæ) ç®¡é</td><td data-colwidth="93" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">40</td><td data-colwidth="95" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">60</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">å¹³è¡¡å</td></tr><tr><td data-colwidth="230" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">ç¼ç å©æ(Coding Assistant)</td><td data-colwidth="93" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">60</td><td data-colwidth="95" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">40</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">CPU åéå</td></tr><tr><td data-colwidth="230" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">å¤å·¥å·æºè½ä½(Multi-tool Agent)</td><td data-colwidth="93" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">80</td><td data-colwidth="95" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">20</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">CPU éåº¦å</td></tr><tr><td data-colwidth="230" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">ç ç©¶æºè½ä½(Research Agent)</td><td data-colwidth="93" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">88</td><td data-colwidth="95" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">12</td><td data-colwidth="111" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">CPU æç«¯éåº¦å</td></tr></tbody></table>è¿ä¸è¶å¿é¢ç¤ºçæ°æ®ä¸å¿CPU å¸åºçäºæ¬¡ç¹è£ãæ©æ ¹å£«ä¸¹å©ä¼°è®¡ï¼æºè½ä½ AI å¸¦æ¥çå¢éå¸åºç©ºé´å¨äºé¶ä¸é¶å¹´å°è¾¾å° 325 äº¿è³ 600 äº¿ç¾åï¼ä½¿æ´ä¸ªæå¡å¨ CPU å¸åºè§æ¨¡çªç ´ 1000 äº¿ç¾åã<h2 data-layout-id="31" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">æ¨çæ¶ä»£çéä¸´ï¼å®å¶åAI 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rgb(0,0,0);mso-border-insidev:0.7500pt solid rgb(0,0,0);mso-padding-alt:5.0000pt 5.0000pt 5.0000pt 5.0000pt;"><tbody><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-width: 1pt;border-style: solid;border-color: rgb(0, 0, 0);">å¹´åº¦</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">é¢è®¡ABF ä¾éç¼ºå£ (%)</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">AI å ABF éæ±æ¯ä¾ (%)</td></tr><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2025</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">è¶äºå¹³è¡¡</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">20</td></tr><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2026 (H2)</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">10</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">35</td></tr><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2027</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">21</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">55</td></tr><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2028</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">42</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">68</td></tr><tr><td data-colwidth="153" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2030e</td><td data-colwidth="164" width="208" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">--</td><td data-colwidth="170" width="208" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">75+</td></tr></tbody></table><h2 data-layout-id="39" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">T-Glassï¼ç»ççº¤ç»´å¸çâçªæ¯ç¹â</h2>æ´ä¸ºä¸æ¸¸çç¶é¢åºç°å¨åºç¡ææââä½çè¨èç³»æ°ç»ççº¤ç»´å¸ï¼T-Glassï¼ä¸ãT-Glass æ¯çäº§ ABF è½½æ¿çå³é®å¢å¼ºææï¼å¨çä¾åºé«åº¦éä¸å¨æ¥æ¬ååæ¥ä¸çººï¼Nittoboï¼æä¸ãç±äºAI æå¡å¨æ¶æå¯¹çç¨³å®æ§åä¿¡å·å®æ´æ§çæé«è¦æ±ï¼ä¼ ç»ç»çå¸å·²æ æ³æ»¡è¶³éæ±ãç®å T-Glass å¤äºæåº¦çç¼ºç¶æï¼ä¸æ°äº§è½è¦å°äºé¶äºä¸å¹´ä¸åå¹´æè½ä¸çº¿ãè¿ç§âææçº§âçç¶é¢æå³çï¼å³ä½¿æ¥ææåè¿çæ¶åäº§è½åå°è£ææ¯ï¼å¦ææ²¡æè¿ç§åºç¡çâç»ççº¤ç»´âï¼é«ç«¯è¯ççäº§åºä¹å°åæ»ã<h1 data-layout-id="42" style="font-size: 20px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;text-align: center;">ç¬¬äºç« åºåæç¥ä¸å½äº§åï¼ä¸å½åå¯¼ä½äº§ä¸çé§æ§ä¸ææ</h1><h2 data-layout-id="43" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">èªç»ççé£è·ï¼ä»33% å° 76%</h2><section data-layout-id="44" style="font-size: 17px;font-weight: 400;color: rgba(0,0,0,0.9);line-height: 1.8;margin-bottom: 24px;">é¢å¯¹å¤æçå½éå°ç¼æ¿æ²»ç¯å¢ï¼ä¸å½AI è¯çå¸åºæ£ç»åçä¸æ¬¡æ·±å»çâç»ææ§éå¡âãæ©æ ¹å£«ä¸¹å©åææåºï¼ä¸å½ AI è¯ççæ»å¸åºè§æ¨¡å°ä»äºé¶äºåå¹´ççº¦ 150 äº¿ç¾åå¢é¿å°äºé¶ä¸é¶å¹´ç 670 äº¿ç¾åãæ´å·éç¨ç¢æä¹çæ¯ï¼å½äº§AI è¯ççèªç»çé¢è®¡å°ä»äºé¶äºåå¹´ç33%é£åè³äºé¶ä¸é¶å¹´ç76%ã</section>è¿ä¸è½¬åçèåæ¯æ¿çæ¯æä¸æ¬åä¼ä¸ï¼å¦åä¸ºãå¯æ¦çºªãæ©å°çº¿ç¨çï¼çå¿«éè¿ä»£ãä¸è¯å½éï¼SMICï¼ä½ä¸ºæ¬åæ¶åä»£å·¥çæ ¸å¿ï¼å¶ N+2ï¼7çº³ç±³ï¼å N+3ï¼5çº³ç±³ï¼èç¹è¢«è§ä¸ºæ¯æå½äº§ AI è¯çèªç»çæåçå³é®ææ¯æ¯æ±ã<table style="border-collapse:collapse;width:533px;margin-left:5.4000pt;mso-table-layout-alt:fixed;border:none;mso-border-left-alt:0.7500pt solid rgb(0,0,0);mso-border-top-alt:0.7500pt solid rgb(0,0,0);mso-border-right-alt:0.7500pt solid rgb(0,0,0);mso-border-bottom-alt:0.7500pt solid rgb(0,0,0);mso-border-insideh:0.7500pt solid rgb(0,0,0);mso-border-insidev:0.7500pt solid rgb(0,0,0);mso-padding-alt:5.0000pt 5.0000pt 5.0000pt 5.0000pt;"><tbody><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-width: 1pt;border-style: solid;border-color: rgb(0, 0, 0);">å³é®æ¶é´ç¹</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">ä¸å½AI è¯çå¸åºè§æ¨¡ (US$ bn)</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">å½äº§èªç»ç(%)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">å³é®ææ¯éç¨ç¢</td></tr><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2024</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">15</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">33</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">12nm è§æ¨¡å</td></tr><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2025e</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">32</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">41</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">7nm (N+2) å³é®èç¹</td></tr><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2026e</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">50</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">52</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ¨çè¯çå¸åºçå</td></tr><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2028e</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">62</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">71</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">ä¸»æç®åéæ±æ»¡è¶³</td></tr><tr><td data-colwidth="107" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2030e</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">67</td><td data-colwidth="114" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">76</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">5nm (N+3) å¹¿æ³åºç¨</td></tr></tbody></table><h2 data-layout-id="47" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">åè´¨åé·é±ï¼å½äº§æ¿ä»£ä¸ååºçå±æº</h2>ç¶èï¼é«èªç»çå¹¶ä¸çåäºé«å©æ¶¦ãæ¥åå¯¹ä¸å½å¸åºæåºäºä¸¥åçæéï¼å½äº§åæ¥å¥âåååâé¶æ®µï¼ç«äºçå³é®å°ä»âææ¯æ»å³âè½¬åä¸ºâä»·æ ¼åå¼âãç®åï¼è®¸å¤å½åAI è¯çååå¨è®¾è®¡ä¸åç°åºé«åº¦çåè´¨åé£é©ãå¦æäº§åä¹é´ç¼ºä¹è¶³å¤çå·®å¼åï¼ä¾å¦å¨è½¯ä»¶çæãç¹å®ç®æ³å éæè½ææ¯ä¸ï¼ï¼ä»·æ ¼æå°ä¸å¯é¿åãå¨è¿ç§ç¯å¢ä¸ï¼åªæé£äºè½å¤å»ºç«èµ·æ·±åçæå£åï¼å¦å¼å®¹ CUDA æèªç åºå±æ¡æ¶ï¼å¹¶æç»è¯æåä¸çå©è½åçååï¼æè½å¨äºé¶äºå«å¹´åçè¡ä¸æ´åä¸åæ´»ä¸æ¥ã<h1 data-layout-id="50" style="font-size: 20px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;text-align: center;">ç¬¬åç« ç®ååºç¡è®¾æ½çä»£éè·¨è¶ï¼è±ä¼è¾¾Rubin ä¸æ¶²å·æ¶ä»£</h1><h2 data-layout-id="51" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 12px;">ä»Blackwell å° Rubinï¼ç®åçä¸åè·è¿</h2>å¨äºé¶äºåå¹´çç¡¬ä»¶å¤©éçº¿ä¸ï¼è±ä¼è¾¾ï¼NVIDIAï¼çâVera Rubinâå¹³å°æ¯ç»å¯¹çç¦ç¹ãä½ä¸º Blackwell çç»§ä»»èï¼Rubin æ¶æå®ç°äºä» 4nm å° 3nm å·¥èºçè·¨è¶ï¼æ¶ä½ç®¡æ°éå¢å è³ 3360 äº¿ä¸ªãRubin GPU æå¤§çæåå¨äºååæ¶æãå®å°æè½½ 288GB ç HBM4 ååï¼å¸¦å®½è¾¾å° 22 TB/sãè¿æå³çå®å¨å¤çè¶å¤§è§æ¨¡æ¨¡åæ¨çæ¶ï¼è½å¤ä»¥æé«çéåº¦è°ååæ°ï¼å½»åºè§£å³äº LLM æ¨çä¸çâååå¢âé®é¢ãè±ä¼è¾¾å£°ç§°ï¼Rubin NVL72 æºæ¶ç³»ç»çæ¨çæ§è½å°æ¯ Blackwell ç 5 è³ 6 åã<table style="border-collapse:collapse;width:531px;margin-left:5.4000pt;mso-table-layout-alt:fixed;border:none;mso-border-left-alt:0.7500pt solid rgb(0,0,0);mso-border-top-alt:0.7500pt solid rgb(0,0,0);mso-border-right-alt:0.7500pt solid rgb(0,0,0);mso-border-bottom-alt:0.7500pt solid rgb(0,0,0);mso-border-insideh:0.7500pt solid rgb(0,0,0);mso-border-insidev:0.7500pt solid rgb(0,0,0);mso-padding-alt:5.0000pt 5.0000pt 5.0000pt 5.0000pt;"><tbody><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-width: 1pt;border-style: solid;border-color: rgb(0, 0, 0);">æ§è½åæ°å¯¹æ¯</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">Blackwell (B200)</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">Vera Rubin (R100)</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: 1pt solid rgb(0, 0, 0);border-bottom: 1pt solid rgb(0, 0, 0);">æåå¹åº¦</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">å·¥èºèç¹</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">TSMC 4NP</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">TSMC 3nm</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">ä»£éè·¨è¶</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ¶ä½ç®¡æ°é(B)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">208</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">336</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">1.6x</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">HBM å®¹é (GB)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">192 (HBM3e)</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">288 (HBM4)</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">1.5x</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">ååå¸¦å®½(TB/s)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">8</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">22</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2.75x</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">æ¨çæ§è½(FP4)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">20 PFLOPS</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">50 PFLOPS</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2.5x</td></tr><tr><td data-colwidth="128" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: 1pt solid rgb(0, 0, 0);border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">NVLink æ»å¸¦å®½ (æºæ¶)</td><td data-colwidth="156" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">130 TB/s</td><td data-colwidth="150" width="156" valign="top" style="padding: 12pt 9pt 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">260 TB/s</td><td data-colwidth="97" width="156" valign="top" style="padding: 12pt 0pt;border-left: none;border-right: 1pt solid rgb(0, 0, 0);border-top: none;border-bottom: 1pt solid rgb(0, 0, 0);">2.0x</td></tr></tbody></table><h2 data-layout-id="55" style="font-size: 17px;font-weight: 500;color: rgba(42, 174, 103, 1);line-height: 1.8;margin-bottom: 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