[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioaf8eb80a":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioaf8eb80a","不只是CPU！花旗上调AMD(AMD)评级至“买入”-高呼GPU第二增加极正式崛起","\u002Fdoc\u002Fdcioaf8eb80a","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，得益于市场对CPU的高度关注，芯片巨头AMD(AMD)股价今年表现强劲。但在花旗分析师看来，投资者不应忽视其在GPU方面的潜力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">该行在近日发表的一份研报中，将AMD股票评级从“中性”上调至“买入”，目标价则从460美元大幅上调至575美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">今年以来，AMD股价已累计上涨超过一倍，主要受其面向人工智能(AI)优化的CPU需求推动。然而，花旗分析师阿提夫·马利克的乐观预期更多基于AMD的GPU销售前景——尤其是在该公司与市场领导者英伟达(NVDA)正面竞争之际。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">马利克在研报中直言，当前市场对AMD的估值逻辑存在误判。多数投资者至今仍将AMD视为一家CPU概念股，目前的股价仅隐含了2028年AMD实现超过500亿美元GPU营收大约60%的概率。在他看来，这严重低估了AMD在GPU市场即将掀起的浪潮。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Meta百亿美元大单定制芯片开启实质性走量\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">花旗本次大幅上调评级最核心的催化剂，来自于AMD与社交媒体巨头Meta Platforms(META)达成的战略合作协议。根据披露信息，双方签订了一项算力规模6吉瓦的AI数据中心GPU多年供货协议，并附带1.6亿股普通股权证。其中首批1吉瓦的交付将于2026年下半年开始并延续至2027年。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">花旗预计，每吉瓦的供货量约对应AMD约150亿美元的营收。这意味着仅Meta一家客户，在本次合作框架下便有望为AMD贡献近900亿美元的潜在收入体量。马利克在报告中判断，AMD凭借与Meta联合开发的定制MI450芯片所提供的更低总体拥有成本，有望在Meta未来的GPU采购中占据“最大份额”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“我们现在认为，AMD正在成为GPU市场中一个真正可靠的第二选择，并且有望在Meta赢得绝大部分市场份额，”马利克写道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">基于上述合作以及更广泛的市场拓展预期，花旗大幅上修了AMD AI业务的财务预测，预计2027年将达到330亿美元(同比增长137%)，2028年达到508亿美元(同比增长54%)。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">CPU侧翼仍保持强劲火力\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">值得注意的是，分析师并非单纯看好AMD押注GPU这一赛道，其CPU业务的基本盘同样持续获得华尔街青睐。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在台北国际电脑展(Computex)之后，马利克将其对2030年CPU总潜在市场规模(TAM)的模型预测从1320亿美元上调至1370亿美元。他仍然认为，AMD将继续成为“CPU复兴浪潮的关键受益者”，其优势包括性能领先、核心数量增加、x86指令集架构、更丰富的SKU产品线，以及在多线程与单线程工作负载上的全面能力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在对比AMD即将推出的Venice CPU与竞争对手英伟达(Vera)及英特尔(Diamond Rapids)的产品时，马利克认为AMD的产品更胜一筹。他预计AMD的Venice系列将涵盖约8至256个核心，能够支持“多种工作负载”，同时保持性能领先，并满足多样化的计算需求。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">就在花旗上调AMD的前一日，美国银行已率先将AMD目标价从500美元上调至560美元，并将AMD列为CPU领域首选股。美国银行分析师维韦克·阿里亚将2030年服务器CPU TAM预估从此前的1250亿美元大幅上调至1700亿美元，认为智能体AI将成为该板块需求的强劲催化剂。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]