CITIC Securities: Top CPU companies’ financial reports are impressive, continuing to recommend the AI industry chain

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China Citic Securities research report states that Intel’s 26Q2 earnings report was released; quarterly revenue growth hit the highest level in 15 years. Strong demand from hyperscalers and enterprise customers is driving data center and AI business to become the main growth engine. Intel expects to further increase capital expenditures to meet the strong CPU demand brought by downstream compute capacity investments. At the AMD conference, the long-term TAM was raised; new product mass production schedules are accelerating, and CPU market conditions remain favorable. SK Group and NVIDIA reached a $500 billion cooperation agreement to develop next-generation AI memory solutions and provide long-term contract deliveries, improving the certainty of upstream expansion. The ongoing strength across the AI hardware chain ultimately shows up in continued model-side iteration and application deployment; we continue to be optimistic about areas including GPUs, CPUs, storage, high-speed networking, and compute rental services.
INTC-7.90%
AMD-3.29%
SK-1.11%
NVDA-0.83%
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