电子|阿里Capex会拉动国产算力半导体多少增量

中信证券研究
01 Mar

文|徐涛 雷俊成 夏胤磊 王子源 程子盈阿里巴巴近期宣布未来三年将投入超过3800亿元,我们认为,这是DeepSeek带动AI加速落地的标志之一,估算有望拉动数百亿元级别国产算力及半导体环节增量。我们总结三大受益环节:1)AI芯片高度依赖先进制程,晶圆厂作为核心战略资产地位空前强化。2)国产算力芯片加速迭代,享受推理增量广阔市场。3)AI服务器中高带宽内存和高容量存储芯片对应的企业级和定制...

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