ASIC来势汹汹，英伟达慌了吗？

半导体芯闻2025-12-24

如果您希望可以时常见面，欢迎标星收藏哦~随着各家大厂持续进行资本支出、AI竞争白热化，市场目前盛传两种主流观点，一是TPU和ASIC作为GPU替代方案崛起，使英伟达（NVIDIA）护城河遭到侵蚀；另一个是Google逆袭，透过AI模型Gemini取得市占和主导AI搜寻，最终将击败OpenAI。根据外媒siliconANGLE的看法，上述两种说法都严重夸涨，且不一定如市场所想。理由之一是辉达将持续...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2593474785?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-12-24 18:19","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2593474785","market":"us","top_or_hot":-1,"title":"ASIC来势汹汹，英伟达慌了吗？","media":"半导体芯闻","content":"<div>\n<p>如果您希望可以时常见面，欢迎标星 收藏哦~随着各家大厂持续进行资本支出、AI竞争白热化，市场目前盛传两种主流观点，一是TPU和ASIC作为GPU替代方案崛起，使英伟达（NVIDIA）护城河遭到侵蚀；另一个是Google逆袭，透过AI模型Gemini取得市占和主导AI搜寻，最终将击败OpenAI。根据外媒siliconANGLE的看法，上述两种说法都严重夸涨，且不一定如市场所想。理由之一是辉达将持续...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203513a4736488&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","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>ASIC来势汹汹，英伟达慌了吗？</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{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { 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\">\nASIC来势汹汹，英伟达慌了吗？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-24 18:19 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203513a4736488&s=b><strong>半导体芯闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>如果您希望可以时常见面，欢迎标星 收藏哦~随着各家大厂持续进行资本支出、AI竞争白热化，市场目前盛传两种主流观点，一是TPU和ASIC作为GPU替代方案崛起，使英伟达（NVIDIA）护城河遭到侵蚀；另一个是Google逆袭，透过AI模型Gemini取得市占和主导AI搜寻，最终将击败OpenAI。根据外媒siliconANGLE的看法，上述两种说法都严重夸涨，且不一定如市场所想。理由之一是辉达将持续...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203513a4736488&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVDS","symbol_name":"1.5倍做空NVDA ETF-Tradr","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203513a4736488&s=b","article_id":"2593474785","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203513a4736488&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2593474785","pubTimestamp":1766571589,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"从目前来看，英伟达的护城河因出货量、经验曲线效应以及多年端到端系统工作，形成稳固护城河；OpenAI则因平台执行力及企业需求而保持领先。虽然早期“Google可能颠覆OpenAI”的情境确实存在可能性，但数据与平台动态显示，OpenAI先行者优势正逐步转化为更持久的竞争力，尤其随着企业逐渐成为市场重心，加上与英伟达的合作关系变得更加重要。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"NVDS":"1.5倍做空NVDA ETF-Tradr","2NVD.UK":"2X NVIDIA ETP","NVD2.UK":"2X NVIDIA ETP","SG9999015978.USD":"利安颠覆性创新基金A","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","NVDU":"2倍做多NVDA ETF-Direxion","SNVD.UK":"LS -1X NVIDIA","BK4592":"伊斯兰概念","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4549":"软银资本持仓","NVIW.SI":"NVDA 3xLongSG261006","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","NVDX":"2倍做多NVDA ETF-T-Rex","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","BK4548":"巴美列捷福持仓","NVD":"2倍做空NVDA ETF-GraniteShares","NVDY":"NVDA期权收益策略ETF-YieldMax","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","ASIC":"Ategrity Specialty Holdings","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","NVDD":"1倍做空NVDA ETF-Direxion","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","NVDA":"英伟达","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU0557290698.USD":"施罗德环球可持续增长基金","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","NVDS.UK":"LS -1X NVIDIA","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","ON":"安森美半导体","NVD3.UK":"LS 3X NVIDIA","GOOG":"谷歌"},"translate_title":"ASIC is coming fiercely, is Nvidia panicking?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDS":0.6,"2NVD.UK":0.6,"NVDA":1.5,"NVDY":0.6,"ASIC":1.5,"ON":1.5,"NVD2.UK":0.6,"GOOG":0.9,"NVDS.UK":0.6,"NVDX":0.6,"3NVD.UK":0.6,"SNVD.UK":0.6,"NVIW.SI":0.6,"NVD":0.6,"NVDD":0.6,"NVDU":0.6,"NVD3.UK":0.6},"content_text":"如果您希望可以时常见面，欢迎标星 收藏哦~随着各家大厂持续进行资本支出、AI竞争白热化，市场目前盛传两种主流观点，一是TPU和ASIC作为GPU替代方案崛起，使英伟达（NVIDIA）护城河遭到侵蚀；另一个是Google逆袭，透过AI模型Gemini取得市占和主导AI搜寻，最终将击败OpenAI。根据外媒siliconANGLE的看法，上述两种说法都严重夸涨，且不一定如市场所想。理由之一是辉达将持续精进其GB300和后续Vera Rubin架构，可维持领先出货并不断降低成本，成为迄今最具成本效益的平台。至于Google则在壮大的同时面临一种“创新者困境”。报导称，由于Google搜寻业务与广告营收高度绑定，一旦Google将广告模式转向类似聊天机器人的体验，单次搜寻查询的服务成本将暴增至原来的100倍；再者，Google必须将商业模式转向更高度整合的购物体验，必须连结使用者与广告主，但即便Gemini近期取得一定成功，Google仍不具备这样的信任基础。相比之下，OpenAI核心在于强调可信资讯，而非推送广告，仍有其优势。为何TPU难以打破英伟达AI护城河？该报导认为，TPU核心问题不在是否为“好芯片”，而是架构能否适配AI下一阶段的发展需求。TPU是因频宽昂贵且稀少而诞生，适合低频宽需求的AI任务，但随着模型规模扩大与工作负载多样化，逐渐在扩展性等方面遇到限制。目前领先AI训练走向为“高频宽与大规模扩展”而改善的系统架构，并且支撑GPU工厂，这要让大量加速器彼此连接，并长时间维持高效运转。辉达护城河来自其端到端、为高频宽、大规模扩展与可持续利用率而打造的整体架构，也是迈向AI工厂、大规模生产基础设施时，最关键的决定因素。此外，不管是TPU等AI芯片都受制于先进封装产能瓶颈，辉达除了掌握一定产能外，还持续推进GB200、GB300到Rubin的架构，并改善交换技术与整体系统设计，可说更有优势。该报导认为，在供应受限的环境下，超大规模云端业者势必采取混合架构策略。以Google为例，它会在适合的地方使用TPU，但难以全面取代GPU。此外，像Google这样的主要超大规模业者，不太可能大规模对外销售自家专有加速器，让其直接竞争对手形成真正的外部市场。该报导指出，“TPU走向开放市场”更合理的解释是生态系伙伴（例如博通）以及Meta等公司在当前环境下寻求任何优势所带来的压力，而非Google有意成为真正的商用芯片供应商。与OpenAI的竞争？ Google 可能面临“自我颠覆”困境该报导认为，Google困境在于如何以不损害其获利引擎的前提下，让主导模式过渡到更完善的模式。虽然Google获利引擎建立在与搜寻行为挂钩的广告变现上，但如果互动模式转向ChatGPT式的体验，要更丰富的答案、更长的会话和更耗费运算资源的回应，会使成本结构发生巨大变化。“Google只会自我颠覆！”该报导认为，Google忽略了最重要的限制因素，即搜寻的经济效益对Google来说是独一无二的，从经典搜寻转向助手式的交互模式会改变单位经济效益，从而可能破坏盈利引擎。现阶段OpenAI领先优势明显、 Nvidia护城河坚固该报导认为，就平台动能而言，现阶段仍是OpenAI“领先一大截”，因为平台建设、开发者采用、企业用户组合转变以及对稀缺运算资源的掌握，目前都对OpenAI有利。从目前来看，英伟达的护城河因出货量、经验曲线效应以及多年端到端系统工作，形成稳固护城河；OpenAI则因平台执行力及企业需求而保持领先。在这个竞争格局中，模型品质已成为基本门槛，真正的竞争焦点在于模型周边的软件与服务。虽然早期“Google可能颠覆OpenAI”的情境确实存在可能性，但数据与平台动态显示，OpenAI先行者优势正逐步转化为更持久的竞争力，尤其随着企业逐渐成为市场重心，加上与英伟达的合作关系变得更加重要。（来源：technews）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.35.13","shortVersion":"4.35.13","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593474785","isCrawlerRequest":true}