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Heinz
Heinz
·
02-03
前台积人才=前前Intel人才，企业没有文化，卷很了不起吗？少酸情绪，多看结果吧。
台积电前研发主管谈Intel：复制技术也没用 追上还早得很
快科技2月1日消息，去年台积电爆出多个泄密案，其中研发技术大佬、前资深副总罗唯仁在退休后又加盟老东家Intel一事影响更大，还引发了台积电的诉讼。对于这个问题，另一个台积电退休大佬、前研发处长杨光磊日前在采访中给出了否定的答案，认为Intel才刚起来，追赶台积电还早得很，而且就算罗唯仁把技术完全复制过去，公司文化也带不过去。
台积电前研发主管谈Intel：复制技术也没用 追上还早得很
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Heinz
Heinz
·
01-26
花旗这两周上蹿下跳调3次了吧[你懂的] 花猴子🐒
大行评级｜花旗：下调英特尔目标价至48美元，维持“中性”评级
花旗发表研报指，英特尔上季业绩胜于预期，但由于内部供应限制，导致毛利率下滑，致使今年首季指引低于市场预期，触发该股股价下跌。该行认为，由于AI带动的通用服务器CPU升级需求强劲，如果英特尔的供应不受限
大行评级｜花旗：下调英特尔目标价至48美元，维持“中性”评级
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Heinz
Heinz
·
01-23
身段真灵活
花旗将英特尔目标价下调至48美元
格隆汇1月23日｜花旗将英特尔目标价从50美元下调至48美元。
花旗将英特尔目标价下调至48美元
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Heinz
Heinz
·
01-16
正如2020-2024的USA和现在的USA[笑哭]
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Heinz
Heinz
·
01-16
花旗前两天不是看跌
$英特尔(INTC)$
呢？筹码吸够了？这种机构真是居心不良。
花旗：英特尔(INTC.US)迎来AI芯片代工“窗口期”，美光(MU.US)因DRAM涨价放缓移出观察名单
智通财经APP获悉，投资公司花旗集团周四上调了英特尔的评级，并将美光科技从其美国重点观察名单中移除。英特尔英特尔的评级获上调，由原先的“卖出”调升至“中性”，目标价设定为50美元。花旗集团分析指出，英特尔将从台积电先进封装产能紧张的局势中获益。此外，该行分析师阿提夫·马利克称，英特尔“在政府支持下，拥有吸引代工晶圆客户的独特机会窗口”。
花旗：英特尔(INTC.US)迎来AI芯片代工“窗口期”，美光(MU.US)因DRAM涨价放缓移出观察名单
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Heinz
Heinz
·
01-16
自己当年拿补贴砸钱的事怎么不提，还要起诉从来自英特尔又返聘回英特尔的技术人员，没有谦卑，也不懂得尊重人。
$台积电(TSM)$
的陨落要开始了，文化本底从没赢过。
非常抱歉，此主贴已删除
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Heinz
Heinz
·
01-13
一点都不给Intel Foundary计价啊[笑哭] 全球第一个量产1.8nm视而不见。作为机构就这水平，很难说不是有别的意图。
$英特尔(INTC)$
花旗：卖出英特尔与AMD！
花旗维持对AMD的“中性”评级，对英特尔维持“卖出”评级。02 |公司影响：对AMD与英特尔构成短暂喘息第四季度出货数据优于预期，为AMD和英特尔即将发布的季度财报带来了温和的短期积极影响。花旗指出，AMD约30%的营收来自PC端市场，而英特尔则有约90%的营收依赖于PC与服务器市场。花旗给出的AMD目标价为260美元，基于约32倍2027年预期市盈率；英特尔目标价为29美元，约为其2026年预估账面价值的1倍，反映出对其较低盈利能力的担忧。
花旗：卖出英特尔与AMD！
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Heinz
Heinz
·
01-05
$Palantir Technologies Inc.(PLTR)$
1h22m极速往返有功[龇牙]
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Heinz
Heinz
·
2025-12-24
路透社啊 ⬅️⬅️⬅️ FAKE NEWS[笑哭]
传英伟达暂停18A工艺测试，英特尔芯片代工梦遭“当头一棒”
暂停对英特尔18A制造工艺的测试。
传英伟达暂停18A工艺测试，英特尔芯片代工梦遭“当头一棒”
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Heinz
Heinz
·
2025-12-24
Windows非常不尊重用户，基建云服务更看好甲骨文，AI应用看好谷歌。
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前Intel人才，企业没有文化，卷很了不起吗？少酸情绪，多看结果吧。","listText":"前台积人才=前前Intel人才，企业没有文化，卷很了不起吗？少酸情绪，多看结果吧。","text":"前台积人才=前前Intel人才，企业没有文化，卷很了不起吗？少酸情绪，多看结果吧。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/528566633645520","repostId":"2608344888","repostType":2,"repost":{"id":"2608344888","kind":"news","pubTimestamp":1769954000,"share":"https://www.laohu8.com/m/news/2608344888?lang=zh_CN&edition=full","pubTime":"2026-02-01 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href=\"https://laohu8.com/S/TSM\">台积电</a>爆出多个泄密案，其中研发技术大佬、前资深副总罗唯仁在退休后又加盟老东家Intel一事影响更大，还引发了台积电的诉讼。</p><p>外界关心的不止是两边的法律大战，更重要的是罗唯仁作为在台积电工作20多年的技术大佬，熟悉台积电的技术研发，而且退休之前获得了2nm、1.6nm及1.4nm等机密资料，现在跳槽到Intel之后，会不会因此让Intel获得追赶甚至超越台积电的机会。</p><p>对于这个问题，另一个台积电退休大佬、前研发处长杨光磊日前在采访中给出了否定的答案，认为Intel才刚起来，追赶台积电还早得很，而且就算罗唯仁把技术完全复制过去，公司文化也带不过去。</p><p>他用自己之前的经历对比了两家公司的不同，之前在Inte做过顾问，他提到假如台积电有360个人，每个人方向差别只有1度，而同样情况下Intel有360个人，加起来就变成0，<strong>因为每个人想法都不一样，这就是多元文化的问题。</strong></p><p>他认为罗唯仁加入Intel之后能做的有限，他之前在Intel工作了18年了，又在台积电工作了21年，现在的Intel跟21年前已经不一样了，那时比现在好得多，因为当时的CEO是安迪·格鲁夫，现在的Intel要弱很多，CEO陈立武虽然想扮演一些角色，在帮助Intel，但他毕竟不是搞技术研发的人。</p><p>他还提到，在晶圆代工领域，台积电现在已经是独步全球，而且第二名跟它的差距很远，<strong>已经到了独孤求败的地步，</strong>他们倒是希望能找个真正厉害的对手让台积电尝试一次失败，可惜这个领域台积电不太容易失败了，因为台积电强的地方不是技术问题，是（企业）文化问题。</p><p>杨光磊表示，Intel的技术绝对不差，<strong>但Intel是以一种王者的姿态做产品，</strong>不像台积电这样以欧巴桑的心态在服务客户，Intel完全不可能有这个东西，尤其是技术人员需要很长时间转变，甚至转变不过来。</p><img 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n台积电前研发主管谈Intel：复制技术也没用 追上还早得很\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-01 21:53 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260201215835a6c696ee&s=b><strong>快科技</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>快科技2月1日消息，去年台积电爆出多个泄密案，其中研发技术大佬、前资深副总罗唯仁在退休后又加盟老东家Intel一事影响更大，还引发了台积电的诉讼。外界关心的不止是两边的法律大战，更重要的是罗唯仁作为在台积电工作20多年的技术大佬，熟悉台积电的技术研发，而且退休之前获得了2nm、1.6nm及1.4nm等机密资料，现在跳槽到Intel之后，会不会因此让Intel获得追赶甚至超越台积电的机会。对于这个...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260201215835a6c696ee&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","BK4575":"芯片概念","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" 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INC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260201215835a6c696ee&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2608344888","content_text":"快科技2月1日消息，去年台积电爆出多个泄密案，其中研发技术大佬、前资深副总罗唯仁在退休后又加盟老东家Intel一事影响更大，还引发了台积电的诉讼。外界关心的不止是两边的法律大战，更重要的是罗唯仁作为在台积电工作20多年的技术大佬，熟悉台积电的技术研发，而且退休之前获得了2nm、1.6nm及1.4nm等机密资料，现在跳槽到Intel之后，会不会因此让Intel获得追赶甚至超越台积电的机会。对于这个问题，另一个台积电退休大佬、前研发处长杨光磊日前在采访中给出了否定的答案，认为Intel才刚起来，追赶台积电还早得很，而且就算罗唯仁把技术完全复制过去，公司文化也带不过去。他用自己之前的经历对比了两家公司的不同，之前在Inte做过顾问，他提到假如台积电有360个人，每个人方向差别只有1度，而同样情况下Intel有360个人，加起来就变成0，因为每个人想法都不一样，这就是多元文化的问题。他认为罗唯仁加入Intel之后能做的有限，他之前在Intel工作了18年了，又在台积电工作了21年，现在的Intel跟21年前已经不一样了，那时比现在好得多，因为当时的CEO是安迪·格鲁夫，现在的Intel要弱很多，CEO陈立武虽然想扮演一些角色，在帮助Intel，但他毕竟不是搞技术研发的人。他还提到，在晶圆代工领域，台积电现在已经是独步全球，而且第二名跟它的差距很远，已经到了独孤求败的地步，他们倒是希望能找个真正厉害的对手让台积电尝试一次失败，可惜这个领域台积电不太容易失败了，因为台积电强的地方不是技术问题，是（企业）文化问题。杨光磊表示，Intel的技术绝对不差，但Intel是以一种王者的姿态做产品，不像台积电这样以欧巴桑的心态在服务客户，Intel完全不可能有这个东西，尤其是技术人员需要很长时间转变，甚至转变不过来。","news_type":1,"symbols_score_info":{"INTC":1.95,"03145":0.6,"04335":1.95,"TSM":1.97}},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3546249304196282","authorId":"3546249304196282","name":"火火兔爸","avatar":"https://static.tigerbbs.com/1914631c23e50a7645217a36cc9d9598","crmLevel":9,"crmLevelSwitch":1,"idStr":"3546249304196282","authorIdStr":"3546249304196282"},"content":"就是，赶不赶得上还不是美国人一句话","text":"就是，赶不赶得上还不是美国人一句话","html":"就是，赶不赶得上还不是美国人一句话"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":525999850730528,"gmtCreate":1769442816174,"gmtModify":1769442819453,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"花旗这两周上蹿下跳调3次了吧[你懂的] 花猴子🐒","listText":"花旗这两周上蹿下跳调3次了吧[你懂的] 花猴子🐒","text":"花旗这两周上蹿下跳调3次了吧[你懂的] 花猴子🐒","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/525999850730528","repostId":"2606405296","repostType":2,"repost":{"id":"2606405296","kind":"live","pubTimestamp":1769406697,"share":"https://www.laohu8.com/m/news/2606405296?lang=zh_CN&edition=full","pubTime":"2026-01-26 13:51","market":"us","language":"zh","title":"大行评级｜花旗：下调英特尔目标价至48美元，维持“中性”评级","url":"https://stock-news.laohu8.com/highlight/detail?id=2606405296","media":"格隆汇","summary":"花旗发表研报指，英特尔上季业绩胜于预期，但由于内部供应限制，导致毛利率下滑，致使今年首季指引低于市场预期，触发该股股价下跌。该行认为，由于AI带动的通用服务器CPU升级需求强劲，如果英特尔的供应不受限","content":"<html><body><p>花旗发表研报指，英特尔上季业绩胜于预期，但由于内部供应限制，导致毛利率下滑，致使今年首季指引低于市场预期，触发该股股价下跌。该行认为，由于AI带动的通用服务器CPU升级需求强劲，如果英特尔的供应不受限制，其销售额本可超越季节性表现。基于毛利率下滑，该行将其目标价由50美元下调至48美元，维持“中性”评级。</p></body></html>","source":"live_gelonghui","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta 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href=https://www.gelonghui.com/rss/live/live.xml><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>花旗发表研报指，英特尔上季业绩胜于预期，但由于内部供应限制，导致毛利率下滑，致使今年首季指引低于市场预期，触发该股股价下跌。该行认为，由于AI带动的通用服务器CPU升级需求强劲，如果英特尔的供应不受限制，其销售额本可超越季节性表现。基于毛利率下滑，该行将其目标价由50美元下调至48美元，维持“中性”评级。</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔","BK4141":"半导体产品","BK4534":"瑞士信贷持仓","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU0106831901.USD":"贝莱德世界金融基金A2","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","BK4602":"量子计算概念","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1201861249.SGD":"Natixis Harris 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19:07","market":"us","language":"zh","title":"花旗将英特尔目标价下调至48美元","url":"https://stock-news.laohu8.com/highlight/detail?id=2605710384","media":"格隆汇","summary":"格隆汇1月23日｜花旗将英特尔目标价从50美元下调至48美元。","content":"<html><body><article><p>格隆汇1月23日｜花旗将<a href=\"https://laohu8.com/S/INTC\">英特尔</a>目标价从50美元下调至48美元。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>花旗将英特尔目标价下调至48美元</title>\n<style 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href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260123190821a44e3577&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4207":"综合性银行","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU2148611432.USD":"AZ ALLOCATION BALANCED BRAVE \"AAZ\" (USDHDG) ACC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","BK4554":"元宇宙及AR概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) 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(HKDHDG) ACC","BK4579":"人工智能","BK4588":"碎股","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","BK4550":"红杉资本持仓","BK4605":"半导体精选","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260123190821a44e3577&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2605710384","content_text":"格隆汇1月23日｜花旗将英特尔目标价从50美元下调至48美元。","news_type":1,"symbols_score_info":{"INTC":1.95,"04335":1.95}},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":522283558425968,"gmtCreate":1768546604926,"gmtModify":1768546607213,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"htmlText":"正如2020-2024的USA和现在的USA[笑哭]","listText":"正如2020-2024的USA和现在的USA[笑哭]","text":"正如2020-2024的USA和现在的USA[笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/522283558425968","isVote":1,"tweetType":1,"viewCount":788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":522470223897280,"gmtCreate":1768546258990,"gmtModify":1768546262433,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"花旗前两天不是看跌<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$ </a> 呢？筹码吸够了？这种机构真是居心不良。","listText":"花旗前两天不是看跌<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$ </a> 呢？筹码吸够了？这种机构真是居心不良。","text":"花旗前两天不是看跌$英特尔(INTC)$ 呢？筹码吸够了？这种机构真是居心不良。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/522470223897280","repostId":"2603952670","repostType":2,"repost":{"id":"2603952670","kind":"news","pubTimestamp":1768543951,"share":"https://www.laohu8.com/m/news/2603952670?lang=zh_CN&edition=full","pubTime":"2026-01-16 14:12","market":"sh","language":"zh","title":"花旗：英特尔(INTC.US)迎来AI芯片代工“窗口期”，美光(MU.US)因DRAM涨价放缓移出观察名单","url":"https://stock-news.laohu8.com/highlight/detail?id=2603952670","media":"智通财经","summary":"智通财经APP获悉，投资公司花旗集团周四上调了英特尔的评级，并将美光科技从其美国重点观察名单中移除。英特尔英特尔的评级获上调，由原先的“卖出”调升至“中性”，目标价设定为50美元。花旗集团分析指出，英特尔将从台积电先进封装产能紧张的局势中获益。此外，该行分析师阿提夫·马利克称，英特尔“在政府支持下，拥有吸引代工晶圆客户的独特机会窗口”。","content":"<html><body><p>智通财经APP获悉，投资公司花旗集团周四上调了<a href=\"https://laohu8.com/S/INTC\">英特尔</a>(INTC.US)的评级，并将<a href=\"https://laohu8.com/S/MU\">美光科技</a>(MU.US)从其美国重点观察名单中移除。</p><p><span>英特尔</span></p><p>英特尔的评级获上调，由原先的“卖出”调升至“中性”，目标价设定为50美元。花旗集团分析指出，英特尔将从<a href=\"https://laohu8.com/S/TSM\">台积电</a>(TSM.US)先进封装产能紧张的局势中获益。此外，该行分析师阿提夫·马利克称，英特尔“在政府支持下，拥有吸引代工晶圆客户的独特机会窗口”。</p><p>马利克进一步补充道：“我们相信，随着英特尔18A - P/14A工艺良率提升，在后端环节，英特尔将率先收获人工智能专用集成电路(像TPU这类)所带来的溢出效应，而后这一利好会延伸至前端代工客户领域。”</p><p>尽管存在诸多积极因素，比如美国政府以投资者身份入局，且资本支出有望趋于“稳定”，但马利克指出，英特尔仍未完全走出困境。这位分析师推测，英特尔预计会将部分CPU市场份额拱手让给<a href=\"https://laohu8.com/S/AMD\">AMD</a>(AMD.US)和<a href=\"https://laohu8.com/S/ARM\">Arm</a>(ARM.US)，同时，个人电脑市场的疲软态势或许会引发内存价格上涨。</p><p><span>美光科技</span></p><p>美光科技被移出美国重点观察名单。原因是马利克指出，动态随机存取存储器(DRAM)的定价势头在第二季度相较于第一季度可能会出现“放缓”情况。</p><p>马利克解释道：“美光的股价通常与季度环比的价格走势保持同步。”他还进一步表示：“不过，鉴于晶圆厂产能受限以及人工智能领域需求强劲，我们预计内存的供需平衡状态将延续至2026/27年。”</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" 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href=http://www.zhitongcaijing.com/content/detail/1393744.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，投资公司花旗集团周四上调了英特尔(INTC.US)的评级，并将美光科技(MU.US)从其美国重点观察名单中移除。英特尔英特尔的评级获上调，由原先的“卖出”调升至“中性”，目标价设定为50美元。花旗集团分析指出，英特尔将从台积电(TSM.US)先进封装产能紧张的局势中获益。此外，该行分析师阿提夫·马利克称，英特尔“在政府支持下，拥有吸引代工晶圆客户的独特机会窗口”。马利克进一步...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1393744.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","BK4612":"AI芯片","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) 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P/14A工艺良率提升，在后端环节，英特尔将率先收获人工智能专用集成电路(像TPU这类)所带来的溢出效应，而后这一利好会延伸至前端代工客户领域。”尽管存在诸多积极因素，比如美国政府以投资者身份入局，且资本支出有望趋于“稳定”，但马利克指出，英特尔仍未完全走出困境。这位分析师推测，英特尔预计会将部分CPU市场份额拱手让给AMD(AMD.US)和Arm(ARM.US)，同时，个人电脑市场的疲软态势或许会引发内存价格上涨。美光科技美光科技被移出美国重点观察名单。原因是马利克指出，动态随机存取存储器(DRAM)的定价势头在第二季度相较于第一季度可能会出现“放缓”情况。马利克解释道：“美光的股价通常与季度环比的价格走势保持同步。”他还进一步表示：“不过，鉴于晶圆厂产能受限以及人工智能领域需求强劲，我们预计内存的供需平衡状态将延续至2026/27年。”","news_type":1,"symbols_score_info":{"MU":1.92,"C":1.87,"04335":1.95,"INTC":1.95}},"isVote":1,"tweetType":1,"viewCount":904,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":522281309205760,"gmtCreate":1768546053810,"gmtModify":1768546057660,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"自己当年拿补贴砸钱的事怎么不提，还要起诉从来自英特尔又返聘回英特尔的技术人员，没有谦卑，也不懂得尊重人。<a href=\"https://laohu8.com/S/TSM\">$台积电(TSM)$ </a> 的陨落要开始了，文化本底从没赢过。","listText":"自己当年拿补贴砸钱的事怎么不提，还要起诉从来自英特尔又返聘回英特尔的技术人员，没有谦卑，也不懂得尊重人。<a href=\"https://laohu8.com/S/TSM\">$台积电(TSM)$ </a> 的陨落要开始了，文化本底从没赢过。","text":"自己当年拿补贴砸钱的事怎么不提，还要起诉从来自英特尔又返聘回英特尔的技术人员，没有谦卑，也不懂得尊重人。$台积电(TSM)$ 的陨落要开始了，文化本底从没赢过。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/522281309205760","repostId":"2603600002","repostType":2,"isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":521294095663128,"gmtCreate":1768298007669,"gmtModify":1768298011234,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"一点都不给Intel Foundary计价啊[笑哭] 全球第一个量产1.8nm视而不见。作为机构就这水平，很难说不是有别的意图。<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$ </a> ","listText":"一点都不给Intel Foundary计价啊[笑哭] 全球第一个量产1.8nm视而不见。作为机构就这水平，很难说不是有别的意图。<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$ </a> ","text":"一点都不给Intel Foundary计价啊[笑哭] 全球第一个量产1.8nm视而不见。作为机构就这水平，很难说不是有别的意图。$英特尔(INTC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/521294095663128","repostId":"2603098165","repostType":2,"repost":{"id":"2603098165","kind":"news","pubTimestamp":1768290824,"share":"https://www.laohu8.com/m/news/2603098165?lang=zh_CN&edition=full","pubTime":"2026-01-13 15:53","market":"us","language":"zh","title":"花旗：卖出英特尔与AMD！","url":"https://stock-news.laohu8.com/highlight/detail?id=2603098165","media":"行知交易员","summary":"花旗维持对AMD的“中性”评级，对英特尔维持“卖出”评级。02 |公司影响：对AMD与英特尔构成短暂喘息第四季度出货数据优于预期，为AMD和英特尔即将发布的季度财报带来了温和的短期积极影响。花旗指出，AMD约30%的营收来自PC端市场，而英特尔则有约90%的营收依赖于PC与服务器市场。花旗给出的AMD目标价为260美元，基于约32倍2027年预期市盈率；英特尔目标价为29美元，约为其2026年预估账面价值的1倍，反映出对其较低盈利能力的担忧。","content":"<html><body><article><p>花旗研究发布最新半导体行业报告指出，2025年12月笔记本<span>出货</span>环比增长14%，推动第四季度整体出货仅环比下降5%，优于此前下滑11%的预期，主要受内存价格上涨推动的战略性库存回补影响。</p><p>这对<a href=\"https://laohu8.com/S/AMD\">AMD</a>（营收占比15%）与<a href=\"https://laohu8.com/S/INTC\">英特尔</a>（营收占比36%）等依赖笔记本业务的公司构成短期温和利好。</p><p>然而，分析师预计2026年第一季度笔记本出货将环比下降15%，显著弱于正常的季节性下滑9%，主要受内存供应限制影响。</p><p>花旗维持对AMD的“中性”评级，对英特尔维持“卖出”评级。</p><p><strong>01 |</strong>数据解读：Q4优于预期，但Q1前景疲软</p><p>2025年12月，全球笔记本（主要通过中国台湾ODM数据观测）出货量环比增长14%，超出花旗预期。</p><p>这使得2025年第四季度整体笔记本出货量环比下降5%，优于花旗此前下滑11%的预测，也高于历史同期平均7%的降幅。</p><p>然而，展望2026年第一季度，花旗笔记本分析师Carrie Liu预计，由于内存供应限制，出货量将环比下降15%，显著低于正常季节性环比下降9%的规律。</p><p>这预示着个人电脑市场在年初将面临短期压力。</p><p><strong>02 |</strong>公司影响：对AMD与英特尔构成短暂喘息</p><img src=\"https://fid-75186.picgzc.qpic.cn/20260113160329700v206nu2w6elrsh7\"/><p>第四季度出货数据优于预期，为AMD和英特尔即将发布的季度财报带来了温和的短期积极影响。</p><p>花旗指出，AMD约30%的营收来自PC端市场，而英特尔则有约90%的营收依赖于PC与服务器市场。</p><p>尽管有短期利好，但花旗对两家公司的长期看法并未改变，维持了对AMD的“中性”评级，以及对英特尔的“卖出”评级。</p><p>花旗给出的AMD目标价为260美元，基于约32倍2027年预期市盈率；英特尔目标价为29美元，约为其2026年预估账面价值的1倍，反映出对其较低盈利能力的担忧。</p><p><strong>03 |</strong>风险透视：关键风险点解析</p><p>报告详细列举了AMD与英特尔面临的主要风险：</p><p>“对于AMD”</p><p>1. 竞争风险：在微处理器市场直接与英特尔竞争，在GPU和AI加速器市场则直面<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>，市场份额的任何波动都可能影响业绩。</p><p>2. 终端市场风险：约30%营收来自PC产业，高度依赖企业IT支出。</p><p>3. 客户集中风险：约15%营收来自<a href=\"https://laohu8.com/S/SONY\">索尼</a>和<a href=\"https://laohu8.com/S/MSFT\">微软</a>，来自这两家大客户的订单波动将直接影响业绩预期。</p><p>4. 估值风险：当前估值略高于历史区间，市场共识收入预测的修正可能导致股价高波动。</p><p>“对于英特尔”</p><p>1. 终端市场风险：约90%营收来自PC与服务器，对IT支出周期极为敏感。</p><p>2. 竞争风险：在核心CPU市场持续面临AMD的激烈竞争。</p><p>3. 客户集中风险：前几大PC OEM客户合计贡献约45%营收，大客户订单下滑将带来显著负面影响。</p><p>4. 宏观经济风险：业务遍布全球， prolonged 的宏观经济下行或上行会影响其业绩与评级。</p><p><strong>04 |</strong>总结</p><p>【核心观点】</p><p>Q4笔记本供应链数据因内存价格预期引发的战略性备货而短暂走强，为依赖该市场的半导体公司（尤其是INTC）提供了季度业绩的缓冲垫。</p><p>但这并非需求侧的真实改善信号。</p><p>【关键推断】</p><p>Q1指引的大幅下滑（-15% QoQ vs. 季节性-9%）验证了终端需求的疲软和渠道库存回补的不可持续性。</p><p>内存供应限制是表象，核心仍是终端消费与企业IT支出的放缓。</p><p>【操作启示】</p><p>该数据不足以扭转对PC半导体板块的结构性看跌观点。</p><p>AMD因在AI/数据中心领域的增长叙事而获得估值支撑，维持中性；</p><p>INTC因其对PC/服务器市场的极高敞口、竞争劣势及盈利能见度低，下行风险更甚，维持看跌。</p><p>交易应回避对传统PC周期敏感的标的，关注库存去化进度与AI相关资本开支的持续性。</p><p>...</p><p>完整内容在星球了...</p><img src=\"https://fid-75186.picgzc.qpic.cn/20260113160337249v206ebgac0toc6j\"/><p>...</p><p>深度星球订阅链接：https://t.zsxq.com/NR0qH</p><p>本文所涉及一切内容仅供分享参考，接收人不因阅读本文而被视为我方客户，也不构成向任何人发出出售或购买证券或其他投资标的的邀请，更不构成交易依据。市场有风险，投资需谨慎，本文所有信息及观点均不构成任何投资建议；过往业绩不代表未来表现，投资者应依据自身风险承受能力进行审慎评估、独立决策并自行承担全部责任。任何情况下，我方均不对因使用本文内容而产生的任何损失承担责任。相关数据可能存在滞后或误差，我方不对信息的完整性及准确性承担法律责任。</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>花旗：卖出英特尔与AMD！</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ 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margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n花旗：卖出英特尔与AMD！\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-13 15:53 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260113160413a714d59a&s=b><strong>行知交易员</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>花旗研究发布最新半导体行业报告指出，2025年12月笔记本出货环比增长14%，推动第四季度整体出货仅环比下降5%，优于此前下滑11%的预期，主要受内存价格上涨推动的战略性库存回补影响。这对AMD（营收占比15%）与英特尔（营收占比36%）等依赖笔记本业务的公司构成短期温和利好。然而，分析师预计2026年第一季度笔记本出货将环比下降15%，显著弱于正常的季节性下滑9%，主要受内存供应限制影响。花旗...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260113160413a714d59a&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU0082616367.USD":"摩根大通美国科技A（dist）","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND 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SGD"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260113160413a714d59a&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2603098165","content_text":"花旗研究发布最新半导体行业报告指出，2025年12月笔记本出货环比增长14%，推动第四季度整体出货仅环比下降5%，优于此前下滑11%的预期，主要受内存价格上涨推动的战略性库存回补影响。这对AMD（营收占比15%）与英特尔（营收占比36%）等依赖笔记本业务的公司构成短期温和利好。然而，分析师预计2026年第一季度笔记本出货将环比下降15%，显著弱于正常的季节性下滑9%，主要受内存供应限制影响。花旗维持对AMD的“中性”评级，对英特尔维持“卖出”评级。01 |数据解读：Q4优于预期，但Q1前景疲软2025年12月，全球笔记本（主要通过中国台湾ODM数据观测）出货量环比增长14%，超出花旗预期。这使得2025年第四季度整体笔记本出货量环比下降5%，优于花旗此前下滑11%的预测，也高于历史同期平均7%的降幅。然而，展望2026年第一季度，花旗笔记本分析师Carrie Liu预计，由于内存供应限制，出货量将环比下降15%，显著低于正常季节性环比下降9%的规律。这预示着个人电脑市场在年初将面临短期压力。02 |公司影响：对AMD与英特尔构成短暂喘息第四季度出货数据优于预期，为AMD和英特尔即将发布的季度财报带来了温和的短期积极影响。花旗指出，AMD约30%的营收来自PC端市场，而英特尔则有约90%的营收依赖于PC与服务器市场。尽管有短期利好，但花旗对两家公司的长期看法并未改变，维持了对AMD的“中性”评级，以及对英特尔的“卖出”评级。花旗给出的AMD目标价为260美元，基于约32倍2027年预期市盈率；英特尔目标价为29美元，约为其2026年预估账面价值的1倍，反映出对其较低盈利能力的担忧。03 |风险透视：关键风险点解析报告详细列举了AMD与英特尔面临的主要风险：“对于AMD”1. 竞争风险：在微处理器市场直接与英特尔竞争，在GPU和AI加速器市场则直面英伟达，市场份额的任何波动都可能影响业绩。2. 终端市场风险：约30%营收来自PC产业，高度依赖企业IT支出。3. 客户集中风险：约15%营收来自索尼和微软，来自这两家大客户的订单波动将直接影响业绩预期。4. 估值风险：当前估值略高于历史区间，市场共识收入预测的修正可能导致股价高波动。“对于英特尔”1. 终端市场风险：约90%营收来自PC与服务器，对IT支出周期极为敏感。2. 竞争风险：在核心CPU市场持续面临AMD的激烈竞争。3. 客户集中风险：前几大PC OEM客户合计贡献约45%营收，大客户订单下滑将带来显著负面影响。4. 宏观经济风险：业务遍布全球， prolonged 的宏观经济下行或上行会影响其业绩与评级。04 |总结【核心观点】Q4笔记本供应链数据因内存价格预期引发的战略性备货而短暂走强，为依赖该市场的半导体公司（尤其是INTC）提供了季度业绩的缓冲垫。但这并非需求侧的真实改善信号。【关键推断】Q1指引的大幅下滑（-15% QoQ vs. 季节性-9%）验证了终端需求的疲软和渠道库存回补的不可持续性。内存供应限制是表象，核心仍是终端消费与企业IT支出的放缓。【操作启示】该数据不足以扭转对PC半导体板块的结构性看跌观点。AMD因在AI/数据中心领域的增长叙事而获得估值支撑，维持中性；INTC因其对PC/服务器市场的极高敞口、竞争劣势及盈利能见度低，下行风险更甚，维持看跌。交易应回避对传统PC周期敏感的标的，关注库存去化进度与AI相关资本开支的持续性。...完整内容在星球了......深度星球订阅链接：https://t.zsxq.com/NR0qH本文所涉及一切内容仅供分享参考，接收人不因阅读本文而被视为我方客户，也不构成向任何人发出出售或购买证券或其他投资标的的邀请，更不构成交易依据。市场有风险，投资需谨慎，本文所有信息及观点均不构成任何投资建议；过往业绩不代表未来表现，投资者应依据自身风险承受能力进行审慎评估、独立决策并自行承担全部责任。任何情况下，我方均不对因使用本文内容而产生的任何损失承担责任。相关数据可能存在滞后或误差，我方不对信息的完整性及准确性承担法律责任。","news_type":1,"symbols_score_info":{"AMD":1.93,"INTC":1.95,"04335":1.95}},"isVote":1,"tweetType":1,"viewCount":2207,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"40182151190748","authorIdStr":"40182151190748"},"content":"foundry[贱笑]","text":"foundry[贱笑]","html":"foundry[贱笑]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":518353610589048,"gmtCreate":1767580384990,"gmtModify":1767580387087,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$ </a> 1h22m极速往返有功[龇牙] ","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$ </a> 1h22m极速往返有功[龇牙] ","text":"$Palantir Technologies Inc.(PLTR)$ 1h22m极速往返有功[龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/518353610589048","isVote":1,"tweetType":1,"viewCount":938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":514245917992112,"gmtCreate":1766578751110,"gmtModify":1766581656366,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"title":"","htmlText":"路透社啊 ⬅️⬅️⬅️ FAKE NEWS[笑哭] ","listText":"路透社啊 ⬅️⬅️⬅️ FAKE NEWS[笑哭] ","text":"路透社啊 ⬅️⬅️⬅️ FAKE NEWS[笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/514245917992112","repostId":"1198246370","repostType":2,"repost":{"id":"1198246370","kind":"news","pubTimestamp":1766576228,"share":"https://www.laohu8.com/m/news/1198246370?lang=zh_CN&edition=full","pubTime":"2025-12-24 19:37","market":"us","language":"zh","title":"传英伟达暂停18A工艺测试，英特尔芯片代工梦遭“当头一棒”","url":"https://stock-news.laohu8.com/highlight/detail?id=1198246370","media":"智通财经","summary":"暂停对英特尔18A制造工艺的测试。","content":"<html><head></head><body><p>英特尔股价在周三盘前交易中走低，一度跌超5%。此前据两位知情人士向媒体透露，英伟达在实际评估了使用英特尔18A先进制程技术如何制造其中一款AI芯片之后，并未继续向前推进，而是选择暂停对英特尔18A制程工艺的测试。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c0badf6e3b05f32103f18d426b7e021\" title=\"\" tg-width=\"1170\" tg-height=\"440\"/></p><p style=\"text-align: justify;\">全球两大AI芯片设计领军者(在芯片行业被称作fabless)——即专注于AI GPU算力体系的英伟达以及专注于AI ASIC算力技术路线的博通(AVGO.US)早在三月初就有媒体曾曝出，这两大芯片设计领军者与英特尔进行了高端芯片制造测试。</p><p style=\"text-align: justify;\">然而，自那以后，英特尔的18A芯片技术持续面临挑战，因为初期的那些客户测试结果不乐观导致了客户们对于英特尔技术层面的不满，并且有可能继续将芯片代工/制造产能全线投入于英特尔在芯片制造领域的最强竞争对手台积电(TSM.US)。</p><p style=\"text-align: justify;\"><strong>英特尔当前迫切需要大客户来撑起芯片代工业务</strong></p><p style=\"text-align: justify;\">对于英特尔而言，掌握领先全球且极度适合量产的先进制程芯片制造技术可谓至关重要。这家美国老牌芯片巨头甚至不惜购置更加昂贵的High-NA EUV光刻机——这也是阿斯麦所交付的全球第一台High-NA，英特尔力争打造出领先于台积电以及三星电子的2nm及以下最先进芯片制造技术。</p><p style=\"text-align: justify;\">英特尔现在仅仅只是销售自家PC/服务器CPU已经难以实现业绩持续性质的增长，虽然英特尔已经凭借强劲服务器CPU需求走出业绩萎靡的“至暗时刻”，但是股东们想要看到的是英特尔重拾强劲增长曲线，成为比肩台积电的芯片代工巨头，因此英特尔战略已经转向聚焦于做Intel Foundry(系统性芯片代工)——即给别人代工高端先进制程芯片，直接对标台积电。</p><p style=\"text-align: justify;\">其中18A与更加先进的16A技术可以说是英特尔能否翻身的关键节点，如果18A在性能/能效上真能对标甚至超越台积电与三星，英特尔才有机会在当前全球需求最为火爆的AI加速器(AI GPU/ASIC等AI核心算力基础设施)为英伟达、AMD以及博通、高通等超级大客户进行先进制程芯片代工。</p><p style=\"text-align: justify;\">英特尔推出的 18A(等效于1.8 nm 级别制程) 是其先进制程路线图的重要里程碑，旨在通过采用RibbonFET晶体管结构和PowerVia 背部供电技术，大幅提升新一代芯片性能与能效，与台积电等竞争对手的先进制造技术竞争。18A制程不仅用于英特尔自家CPU系列产品，也被视为其对外代工(即foundry)业务吸引客户的关键技术节点。</p><p style=\"text-align: justify;\"><strong>对于英伟达而言，暂停测试可能是风险规避与供应链策略选择，不等同于完全否定英特尔</strong></p><p style=\"text-align: justify;\">此前在9月，英伟达与英特尔堪称“世纪联手”，英伟达CEO黄仁勋宣布将斥资50亿美元入股长期以来的竞争对手英特尔，并将与其共同开发面向PC与AI数据中心的高性能芯片，此消息出炉之后股价长期萎靡的英特尔一改往日颓势，自9月以来英特尔的股价已经大幅上涨超50%。英伟达投资英特尔的举措，无疑让市场更加憧憬英特尔有望在不久后斩获来自英伟达的海量AI芯片订单。</p><p style=\"text-align: justify;\">英伟达作为全球最大规模AI GPU算力集群设计商，其设计的每一代AI芯片产品对芯片制造工艺的性能、功耗和良率都有极高要求。暂停推进意味着英伟达选择回避当前制程风险，继续依赖其现有的成熟合作伙伴且数十年来长期合作的芯片制造商(例如台积电先进制程)来保障产品交付计划。这反映出英伟达在芯片供应链安排上仍然以稳定性与高性能优先。</p><p style=\"text-align: justify;\">“暂停先进制程推进”通常强调的是当前芯片雏形测试未达预期或未进入下一阶段商业合作谈判，并不等于长期放弃。英伟达在过去也曾参与18A早期测试，并可能根据未来良率来帮助英特尔改善制造细节。</p></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>传英伟达暂停18A工艺测试，英特尔芯片代工梦遭“当头一棒”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n传英伟达暂停18A工艺测试，英特尔芯片代工梦遭“当头一棒”\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-24 19:37 北京时间 <a href=https://www.zhitongcaijing.com/content/detail/1385671.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>英特尔股价在周三盘前交易中走低，一度跌超5%。此前据两位知情人士向媒体透露，英伟达在实际评估了使用英特尔18A先进制程技术如何制造其中一款AI芯片之后，并未继续向前推进，而是选择暂停对英特尔18A制程工艺的测试。全球两大AI芯片设计领军者(在芯片行业被称作fabless)——即专注于AI GPU算力体系的英伟达以及专注于AI ASIC算力技术路线的博通(AVGO.US)早在三月初就有媒体曾曝出，这...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/1385671.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c74be4c2a08964ef2daf32217f693b44","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.zhitongcaijing.com/content/detail/1385671.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1198246370","content_text":"英特尔股价在周三盘前交易中走低，一度跌超5%。此前据两位知情人士向媒体透露，英伟达在实际评估了使用英特尔18A先进制程技术如何制造其中一款AI芯片之后，并未继续向前推进，而是选择暂停对英特尔18A制程工艺的测试。全球两大AI芯片设计领军者(在芯片行业被称作fabless)——即专注于AI GPU算力体系的英伟达以及专注于AI ASIC算力技术路线的博通(AVGO.US)早在三月初就有媒体曾曝出，这两大芯片设计领军者与英特尔进行了高端芯片制造测试。然而，自那以后，英特尔的18A芯片技术持续面临挑战，因为初期的那些客户测试结果不乐观导致了客户们对于英特尔技术层面的不满，并且有可能继续将芯片代工/制造产能全线投入于英特尔在芯片制造领域的最强竞争对手台积电(TSM.US)。英特尔当前迫切需要大客户来撑起芯片代工业务对于英特尔而言，掌握领先全球且极度适合量产的先进制程芯片制造技术可谓至关重要。这家美国老牌芯片巨头甚至不惜购置更加昂贵的High-NA EUV光刻机——这也是阿斯麦所交付的全球第一台High-NA，英特尔力争打造出领先于台积电以及三星电子的2nm及以下最先进芯片制造技术。英特尔现在仅仅只是销售自家PC/服务器CPU已经难以实现业绩持续性质的增长，虽然英特尔已经凭借强劲服务器CPU需求走出业绩萎靡的“至暗时刻”，但是股东们想要看到的是英特尔重拾强劲增长曲线，成为比肩台积电的芯片代工巨头，因此英特尔战略已经转向聚焦于做Intel Foundry(系统性芯片代工)——即给别人代工高端先进制程芯片，直接对标台积电。其中18A与更加先进的16A技术可以说是英特尔能否翻身的关键节点，如果18A在性能/能效上真能对标甚至超越台积电与三星，英特尔才有机会在当前全球需求最为火爆的AI加速器(AI GPU/ASIC等AI核心算力基础设施)为英伟达、AMD以及博通、高通等超级大客户进行先进制程芯片代工。英特尔推出的 18A(等效于1.8 nm 级别制程) 是其先进制程路线图的重要里程碑，旨在通过采用RibbonFET晶体管结构和PowerVia 背部供电技术，大幅提升新一代芯片性能与能效，与台积电等竞争对手的先进制造技术竞争。18A制程不仅用于英特尔自家CPU系列产品，也被视为其对外代工(即foundry)业务吸引客户的关键技术节点。对于英伟达而言，暂停测试可能是风险规避与供应链策略选择，不等同于完全否定英特尔此前在9月，英伟达与英特尔堪称“世纪联手”，英伟达CEO黄仁勋宣布将斥资50亿美元入股长期以来的竞争对手英特尔，并将与其共同开发面向PC与AI数据中心的高性能芯片，此消息出炉之后股价长期萎靡的英特尔一改往日颓势，自9月以来英特尔的股价已经大幅上涨超50%。英伟达投资英特尔的举措，无疑让市场更加憧憬英特尔有望在不久后斩获来自英伟达的海量AI芯片订单。英伟达作为全球最大规模AI GPU算力集群设计商，其设计的每一代AI芯片产品对芯片制造工艺的性能、功耗和良率都有极高要求。暂停推进意味着英伟达选择回避当前制程风险，继续依赖其现有的成熟合作伙伴且数十年来长期合作的芯片制造商(例如台积电先进制程)来保障产品交付计划。这反映出英伟达在芯片供应链安排上仍然以稳定性与高性能优先。“暂停先进制程推进”通常强调的是当前芯片雏形测试未达预期或未进入下一阶段商业合作谈判，并不等于长期放弃。英伟达在过去也曾参与18A早期测试，并可能根据未来良率来帮助英特尔改善制造细节。","news_type":1,"symbols_score_info":{"INTC":2}},"isVote":1,"tweetType":1,"viewCount":709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":514306408584008,"gmtCreate":1766539636415,"gmtModify":1766539639141,"author":{"id":"40182151190748","authorId":"40182151190748","name":"Heinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"40182151190748","authorIdStr":"40182151190748"},"themes":[],"htmlText":"Windows非常不尊重用户，基建云服务更看好甲骨文，AI应用看好谷歌。","listText":"Windows非常不尊重用户，基建云服务更看好甲骨文，AI应用看好谷歌。","text":"Windows非常不尊重用户，基建云服务更看好甲骨文，AI应用看好谷歌。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/514306408584008","isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000552","authorId":"9000000000000552","name":"IsidoreJeames","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000552","authorIdStr":"9000000000000552"},"content":"甲骨文和谷歌的云服务确实稳，微软得加把劲了","text":"甲骨文和谷歌的云服务确实稳，微软得加把劲了","html":"甲骨文和谷歌的云服务确实稳，微软得加把劲了"}],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"posts","isTTM":false}