浙商证券研报指出，通富微电作为AMD第一大封测供应商，占其订单总数80%以上。在6月12日召开的“Advancing AI2025”大会上，正式发布新一代Instinct MI350系列GPU加速器， 采用台积电3NM工艺， 集成288GBHBM3e 12Hi，AI计算性能相比MI300 系列提升4倍，推理能力提升35倍。未来随着大客户业务持续发展，伴随AI PC/AI服务器等产业趋势，公司有望保持增长。公司作为国内先进封装第一梯队，技术、产能、客户兼备，随着AI PC等终端起量带动核心客户需求放量，及国内先进制程良率改善、产能释放带动国产芯片起量，有望迎来发展新机遇，故维持“ 买入” 评级。
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