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<Research>CLSA Expects Domestic AI Chips to Benefit from Computing Power Shortage, Accelerated Substitution Process
Recommend 15 Positive 34 Negative 8 |
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As agentic AI and multimodal applications, such as text-to-video and text-to-image, continue to be popularized, token usage has increased significantly, CLSA issued a research report saying. However, the broker expected supply of mainstream high-end chips to remain tight, leading to a shortage of computing power in the China market. Domestic AI chips are expected to benefit, with their advantages currently more suited to inference rather than training scenarios. CLSA was optimistic about the acceleration of the substitution process for domestic AI chipsets, believing this will provide strong growth momentum for AI chips, advanced logic, advanced packaging and memory manufacturers. For stocks, the broker's target prices for SMIC (00981.HK)'s H-/ A-shares are $93.3/ RMB152, while that of HUA HONG SEMI (01347.HK)'s H-/ A-shares are $129.5/ RMB177.5, respectively. CLSA's target prices for BIREN TECH (06082.HK)/ CHANG ELEC TECH (600584.SH) are $46.3/ RMB67, and the broker set target prices of $449/ RMB333.5 for GIGADEVICE (03986.HK)'s H-/ A-shares. The above stocks are rated at Outperform. Auto-translated by AI AASTOCKS Financial News |
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