博通CEO：硅光是必经之路，但还要时间

半导体行业观察2025-12-15

博通公司首席执行官 Hock Tan 表示，硅光子技术“短期内”在数据中心不会产生影响。在周四举行的公司2025年第四季度财报电话会议上，一位金融分析师询问Broadcom的陈福阳，Broadcom是否认为客户已经准备好采用这项技术。这项技术通过将光通信更深入地集成到计算基础设施中，从而提高网络速度和性能。人工智能基础设施运营商需要高速网络来传输他们处理的海量数据，这意味着他们对能够提升速度的技术...

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time","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVGO":1.5},"content_text":"博通公司首席执行官 Hock Tan 表示，硅光子技术“短期内”在数据中心不会产生影响。在周四举行的公司2025年第四季度财报电话会议上，一位金融分析师询问Broadcom的陈福阳，Broadcom是否认为客户已经准备好采用这项技术。这项技术通过将光通信更深入地集成到计算基础设施中，从而提高网络速度和性能。人工智能基础设施运营商需要高速网络来传输他们处理的海量数据，这意味着他们对能够提升速度的技术非常感兴趣。“我预见到未来某个时候，这将是唯一的方法，”陈福阳回应道，然后又说，“但我们还没有到那一步。”事实上，这位首席执行官认为，在硅光子技术成为必需品之前，需要经历两波创新浪潮。第一波是扩展用于机架级系统的铜基互连技术。第二波是可插拔光器件——一种结合了电子器件和光子器件的技术。“压垮骆驼的最后一根稻草是，当你无法在可插拔光学器件中很好地实现目标时，”陈福阳说道。“那时你就只能转向硅光子学了。”首席执行官表示，向硅光子技术的转型势在必行，但尚需时日。“这终将发生，我们也已做好准备，但不会很快实现，”他说道，并补充说博通公司已经在进行必要的研发工作，因此能够满足市场需求。目前，博通正忙于生产人工智能硬件，以交付其价值730亿美元的积压订单。其中超过500亿美元是超大规模客户订购的定制人工智能加速器（博通称之为“XPU”）。陈福阳表示，这些买家看重定制芯片的价值，因为它们可以将软件功能封装到硅芯片中，从而简化其技术栈。“投资定制加速器是一项多年计划，而不是交易或短期决策，”他告诉投资者，以此证明博通在 XPU 项目中的成功既代表了忠实的客户，也表达了对人工智能硬件需求将持续存在的信念。“客户降温（对人工智能硬件的需求）是一种夸大的假设，我不认为这种情况会发生，”他说道，并指出一位未透露姓名的新客户下了价值 10 亿美元的 XPU 订单，以及 Anthropic 公司额外下了 110 亿美元的订单来支持他的说法。“过去三个月的订单量是我们前所未见的，”陈福阳告诉投资者，并预测公司积压订单可能会继续增长。这位首席执行官对供应链受限的说法不以为然，称博通可以从台积电获得所需的产能，同时回避了有关内存成本的问题，并指出新加坡的新工厂将提供满足需求的封装和组装能力。第四季度半导体业务营收达到110亿美元，同比增长35%。其中67亿美元来自人工智能产品，博通的人工智能硬件营收在不到三年的时间里增长了10倍。该公司的基础设施软件业务营收达69亿美元，同比增长19%。陈福阳表示，这一增长主要来自VMware软件的销售，他预计VMware软件将推动公司在2026年之前保持两位数的低增长。这较2025财年26%的同比增长有所放缓。不过，软件利润率上升了6个百分点，达到78%，这反映出VMware并入博通的整合工作已经完成。陈福阳预测博通的半导体业务将继续推动公司快速增长，并给出 2026 财年第一季度营收预期为 191 亿美元，增长 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