通信行业研究:美国批准向中国出售H200,国产算力链加速向上

国金证券
Dec 14, 2025

(以下内容从国金证券《通信行业研究:美国批准向中国出售H200,国产算力链加速向上》研报附件原文摘录)1)美国政府批准向中国出售英伟达H200芯片,国产算力链加速向上。特朗普表示允许英伟达向中国经批准的客户出售H200芯片、销售收入的25%上缴美国政府,且该模式未来或扩展至AMD、英特尔等美国芯片厂商。由于H200订单量已明显超出当前产能水平,英伟达已告知中国客户正评估为H200增加产能。我们认为...

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