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谁都没我闪亮
05-03
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谁都没我闪亮
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想骂人了！","text":"$海致科技集团(02706)$ 想骂人了！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/538617680754072","isVote":1,"tweetType":1,"viewCount":1620,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":560248977692296,"gmtCreate":1777811293184,"gmtModify":1777811898303,"author":{"id":"4194594740771580","authorId":"4194594740771580","name":"谁都没我闪亮","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":7,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194594740771580","idStr":"4194594740771580"},"themes":[],"title":"","htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/560248977692296","repostId":"2632627932","repostType":2,"repost":{"id":"2632627932","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1777708942,"share":"https://www.laohunote.com/m/news/2632627932?lang=zh_CN&edition=full","pubTime":"2026-05-02 16:02","market":"hk","language":"zh","title":"AI CPU推高DDR5内存需求，存储芯片“超级周期”或延续至2027年","url":"https://stock-news.laohu8.com/highlight/detail?id=2632627932","media":"华尔街见闻","summary":"随着HBM需求之外的通用DRAM需求同步攀升，存储芯片\"超级周期\"的终点或将从此前预期的2026年推迟至2027年。","content":"<html><head></head><body><blockquote><p>AI推理架构重塑存储需求版图，CPU从配角跃升为主角，随着英特尔等厂商将AI CPU的内存配置升至400GB，服务器端对DDR5的需求正急剧膨胀，DDR5现货价格4月环比上涨2.8%。当前DRAM市场供给缺口约达需求的10个百分点，存储"超级周期"终点或从2026年推迟至2027年。</p></blockquote><p style=\"text-align: justify;\">AI推理架构转型正在重塑存储芯片需求格局，这场供需失衡的持续时间或超出市场此前预期。</p><p style=\"text-align: justify;\">据首尔经济日报周六报道，随着英特尔等厂商推出搭载高达400GB内存的AI CPU，服务器端对DDR5的需求正急剧膨胀。分析人士指出<strong>，三星电子与SK海力士的现有产能难以同步跟上GPU与CPU双重需求的叠加拉动，DRAM供应短缺局面预计将延续至2027年。</strong></p><p style=\"text-align: justify;\">市场信号已在现货价格上有所体现，据韩国证券数据，4月DDR5（16GB）现货价格环比上涨2.8%，而传统DDR4同期则下跌16%，两者价差持续扩大。</p><p style=\"text-align: justify;\">业内人士表示，当前DRAM市场供给缺口约达需求量的10个百分点。<strong>随着HBM需求之外的通用DRAM需求同步攀升，存储芯片"超级周期"的终点或将从此前预期的2026年推迟至2027年。</strong></p><h2 id=\"id_2306038385\">CPU跃升为"AI协调器"，内存需求倍增</h2><p style=\"text-align: justify;\">此轮需求扩张的核心驱动力，在于AI行业从训练向推理的战略重心转移。</p><p style=\"text-align: justify;\">过去，AI数据中心以GPU为核心构建算力基础设施，服务器配置通常为8块GPU搭配1块CPU，重心集中于大规模并行训练任务。然而随着推理场景日趋复杂，CPU的角色正从辅助处理器升级为"AI协调器"——负责调度多个智能体AI系统、管理各模块输出并统筹整体工作流。</p><p style=\"text-align: justify;\">这一角色转变的关键在于"上下文记忆"。CPU需要实时保存并引用各智能体AI的输出内容，以协调完整的推理流程，这使得大容量内存成为刚性需求。英特尔高管在近期财报电话会议上表示，<strong>AI推理基础设施中CPU与GPU的算力配比已从此前的1比8演变为1比4，且这一比例正进一步向1比1收窄。</strong></p><p style=\"text-align: justify;\"><strong>在此背景下，CPU厂商正将AI CPU的DRAM配置提升至300至400GB，较传统CPU产品96至256GB的配置高出最多四倍。</strong></p><h2 id=\"id_406683533\">GPU与CPU需求叠加，DDR5供需缺口持续扩大</h2><p style=\"text-align: justify;\">存储容量的竞争正从GPU端蔓延至CPU端，需求呈滚雪球式增长。</p><p style=\"text-align: justify;\">GPU侧，英伟达下一代AI芯片"Vera Rubin"通过8组HBM堆叠搭载288GB内存，AMD下一代GPU MI400的内存容量更达到432GB。谷歌最新发布的第八代张量处理单元TPU 8i同样配备288GB HBM。</p><p style=\"text-align: justify;\">CPU侧，一旦英特尔"Xeon"与AMD"Epyc"系列AI CPU开始大规模采用高达400GB的DDR5，通用DRAM的供需失衡将进一步加剧。与HBM主要由SK海力士等少数厂商供应不同，DDR5的需求扩张将直接冲击整个通用DRAM市场的供给平衡。</p><p style=\"text-align: justify;\">现货市场的价格分化已清晰反映出这一结构性变化：DDR5价格逆势走强，而DDR4价格持续承压，两类产品的市场表现形成鲜明对比，折射出需求端向新一代标准迁移的加速趋势。</p><h2 id=\"id_2212508050\">三星、SK海力士产能承压，超级周期预期上修</h2><p style=\"text-align: justify;\">供给端的制约使得这场存储短缺难以在短期内得到缓解。</p><p style=\"text-align: justify;\">三星电子与SK海力士作为全球主要DRAM供应商，其产能扩张节奏历来受制于晶圆厂建设周期与先进制程良率爬坡。在HBM产能已被大量锁定的背景下，两家厂商用于通用DDR5生产的有效产能空间相对有限，难以快速响应AI CPU带来的增量需求。</p><p style=\"text-align: justify;\">业内人士指出，当前DRAM市场整体供给约短缺10个百分点。商品级DRAM价格此前已较低点翻倍以上，推动三星、SK海力士等存储厂商录得历史性盈利。<strong>随着GPU与CPU两端需求持续叠加，市场对超级周期的持续时间预期正在上修——从原本预计的2026年延伸至2027年，存储芯片行业的景气周期或将比市场此前预期更为持久。</strong></p></body></html>","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\" 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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\">\nAI CPU推高DDR5内存需求，存储芯片“超级周期”或延续至2027年\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-05-02 16:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>AI推理架构重塑存储需求版图，CPU从配角跃升为主角，随着英特尔等厂商将AI CPU的内存配置升至400GB，服务器端对DDR5的需求正急剧膨胀，DDR5现货价格4月环比上涨2.8%。当前DRAM市场供给缺口约达需求的10个百分点，存储"超级周期"终点或从2026年推迟至2027年。</p></blockquote><p style=\"text-align: justify;\">AI推理架构转型正在重塑存储芯片需求格局，这场供需失衡的持续时间或超出市场此前预期。</p><p style=\"text-align: justify;\">据首尔经济日报周六报道，随着英特尔等厂商推出搭载高达400GB内存的AI CPU，服务器端对DDR5的需求正急剧膨胀。分析人士指出<strong>，三星电子与SK海力士的现有产能难以同步跟上GPU与CPU双重需求的叠加拉动，DRAM供应短缺局面预计将延续至2027年。</strong></p><p style=\"text-align: justify;\">市场信号已在现货价格上有所体现，据韩国证券数据，4月DDR5（16GB）现货价格环比上涨2.8%，而传统DDR4同期则下跌16%，两者价差持续扩大。</p><p style=\"text-align: justify;\">业内人士表示，当前DRAM市场供给缺口约达需求量的10个百分点。<strong>随着HBM需求之外的通用DRAM需求同步攀升，存储芯片"超级周期"的终点或将从此前预期的2026年推迟至2027年。</strong></p><h2 id=\"id_2306038385\">CPU跃升为"AI协调器"，内存需求倍增</h2><p style=\"text-align: justify;\">此轮需求扩张的核心驱动力，在于AI行业从训练向推理的战略重心转移。</p><p style=\"text-align: justify;\">过去，AI数据中心以GPU为核心构建算力基础设施，服务器配置通常为8块GPU搭配1块CPU，重心集中于大规模并行训练任务。然而随着推理场景日趋复杂，CPU的角色正从辅助处理器升级为"AI协调器"——负责调度多个智能体AI系统、管理各模块输出并统筹整体工作流。</p><p style=\"text-align: justify;\">这一角色转变的关键在于"上下文记忆"。CPU需要实时保存并引用各智能体AI的输出内容，以协调完整的推理流程，这使得大容量内存成为刚性需求。英特尔高管在近期财报电话会议上表示，<strong>AI推理基础设施中CPU与GPU的算力配比已从此前的1比8演变为1比4，且这一比例正进一步向1比1收窄。</strong></p><p style=\"text-align: justify;\"><strong>在此背景下，CPU厂商正将AI CPU的DRAM配置提升至300至400GB，较传统CPU产品96至256GB的配置高出最多四倍。</strong></p><h2 id=\"id_406683533\">GPU与CPU需求叠加，DDR5供需缺口持续扩大</h2><p style=\"text-align: justify;\">存储容量的竞争正从GPU端蔓延至CPU端，需求呈滚雪球式增长。</p><p style=\"text-align: justify;\">GPU侧，英伟达下一代AI芯片"Vera Rubin"通过8组HBM堆叠搭载288GB内存，AMD下一代GPU MI400的内存容量更达到432GB。谷歌最新发布的第八代张量处理单元TPU 8i同样配备288GB HBM。</p><p style=\"text-align: justify;\">CPU侧，一旦英特尔"Xeon"与AMD"Epyc"系列AI CPU开始大规模采用高达400GB的DDR5，通用DRAM的供需失衡将进一步加剧。与HBM主要由SK海力士等少数厂商供应不同，DDR5的需求扩张将直接冲击整个通用DRAM市场的供给平衡。</p><p style=\"text-align: justify;\">现货市场的价格分化已清晰反映出这一结构性变化：DDR5价格逆势走强，而DDR4价格持续承压，两类产品的市场表现形成鲜明对比，折射出需求端向新一代标准迁移的加速趋势。</p><h2 id=\"id_2212508050\">三星、SK海力士产能承压，超级周期预期上修</h2><p style=\"text-align: justify;\">供给端的制约使得这场存储短缺难以在短期内得到缓解。</p><p style=\"text-align: justify;\">三星电子与SK海力士作为全球主要DRAM供应商，其产能扩张节奏历来受制于晶圆厂建设周期与先进制程良率爬坡。在HBM产能已被大量锁定的背景下，两家厂商用于通用DDR5生产的有效产能空间相对有限，难以快速响应AI CPU带来的增量需求。</p><p style=\"text-align: justify;\">业内人士指出，当前DRAM市场整体供给约短缺10个百分点。商品级DRAM价格此前已较低点翻倍以上，推动三星、SK海力士等存储厂商录得历史性盈利。<strong>随着GPU与CPU两端需求持续叠加，市场对超级周期的持续时间预期正在上修——从原本预计的2026年延伸至2027年，存储芯片行业的景气周期或将比市场此前预期更为持久。</strong></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"STX":"希捷科技","SNDK":"闪迪","SNXX":"2倍做多SNDK ETF-Tradr","AIPO":"Defiance AI and Power Infrastructure ETF","ARTY":"ISHARES FUTURE AI & TECH ETF","MU":"美光科技","AGIX":"通用人工智能 ETF-AGIX","MULL":"2倍做多MU ETF-GraniteShares","DRAM":"Roundhill Memory ETF","MUD":"1倍做空MU ETF-Direxion","MUU":"2倍做多MU ETF-Direxion","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","SNDU":"2倍做多SNDK ETF-T-REX"},"source_url":"http://www.zhitongcaijing.com/content/detail/1437652.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2632627932","content_text":"AI推理架构重塑存储需求版图，CPU从配角跃升为主角，随着英特尔等厂商将AI CPU的内存配置升至400GB，服务器端对DDR5的需求正急剧膨胀，DDR5现货价格4月环比上涨2.8%。当前DRAM市场供给缺口约达需求的10个百分点，存储\"超级周期\"终点或从2026年推迟至2027年。AI推理架构转型正在重塑存储芯片需求格局，这场供需失衡的持续时间或超出市场此前预期。据首尔经济日报周六报道，随着英特尔等厂商推出搭载高达400GB内存的AI CPU，服务器端对DDR5的需求正急剧膨胀。分析人士指出，三星电子与SK海力士的现有产能难以同步跟上GPU与CPU双重需求的叠加拉动，DRAM供应短缺局面预计将延续至2027年。市场信号已在现货价格上有所体现，据韩国证券数据，4月DDR5（16GB）现货价格环比上涨2.8%，而传统DDR4同期则下跌16%，两者价差持续扩大。业内人士表示，当前DRAM市场供给缺口约达需求量的10个百分点。随着HBM需求之外的通用DRAM需求同步攀升，存储芯片\"超级周期\"的终点或将从此前预期的2026年推迟至2027年。CPU跃升为\"AI协调器\"，内存需求倍增此轮需求扩张的核心驱动力，在于AI行业从训练向推理的战略重心转移。过去，AI数据中心以GPU为核心构建算力基础设施，服务器配置通常为8块GPU搭配1块CPU，重心集中于大规模并行训练任务。然而随着推理场景日趋复杂，CPU的角色正从辅助处理器升级为\"AI协调器\"——负责调度多个智能体AI系统、管理各模块输出并统筹整体工作流。这一角色转变的关键在于\"上下文记忆\"。CPU需要实时保存并引用各智能体AI的输出内容，以协调完整的推理流程，这使得大容量内存成为刚性需求。英特尔高管在近期财报电话会议上表示，AI推理基础设施中CPU与GPU的算力配比已从此前的1比8演变为1比4，且这一比例正进一步向1比1收窄。在此背景下，CPU厂商正将AI CPU的DRAM配置提升至300至400GB，较传统CPU产品96至256GB的配置高出最多四倍。GPU与CPU需求叠加，DDR5供需缺口持续扩大存储容量的竞争正从GPU端蔓延至CPU端，需求呈滚雪球式增长。GPU侧，英伟达下一代AI芯片\"Vera Rubin\"通过8组HBM堆叠搭载288GB内存，AMD下一代GPU MI400的内存容量更达到432GB。谷歌最新发布的第八代张量处理单元TPU 8i同样配备288GB HBM。CPU侧，一旦英特尔\"Xeon\"与AMD\"Epyc\"系列AI CPU开始大规模采用高达400GB的DDR5，通用DRAM的供需失衡将进一步加剧。与HBM主要由SK海力士等少数厂商供应不同，DDR5的需求扩张将直接冲击整个通用DRAM市场的供给平衡。现货市场的价格分化已清晰反映出这一结构性变化：DDR5价格逆势走强，而DDR4价格持续承压，两类产品的市场表现形成鲜明对比，折射出需求端向新一代标准迁移的加速趋势。三星、SK海力士产能承压，超级周期预期上修供给端的制约使得这场存储短缺难以在短期内得到缓解。三星电子与SK海力士作为全球主要DRAM供应商，其产能扩张节奏历来受制于晶圆厂建设周期与先进制程良率爬坡。在HBM产能已被大量锁定的背景下，两家厂商用于通用DDR5生产的有效产能空间相对有限，难以快速响应AI CPU带来的增量需求。业内人士指出，当前DRAM市场整体供给约短缺10个百分点。商品级DRAM价格此前已较低点翻倍以上，推动三星、SK海力士等存储厂商录得历史性盈利。随着GPU与CPU两端需求持续叠加，市场对超级周期的持续时间预期正在上修——从原本预计的2026年延伸至2027年，存储芯片行业的景气周期或将比市场此前预期更为持久。","news_type":1,"symbols_score_info":{"CHAT":1.5,"MU":2,"MULL":0.6,"MUU":0.6,"SNDK":2,"STX":2,"DRAM":1.5,"MUD":0.6,"SNXX":0.6,"AIPO":1.5,"ARTY":1.5,"SNDU":0.6,"AGIX":1.5}},"isVote":1,"tweetType":1,"viewCount":1457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}
