存储板块持续涨势 兆易创新(03986)涨3.94% 花旗指Kimi K3发布将意外推动内存需求增长

金吾财讯
Jul 21

金吾财讯 | 存储板块持续涨势,南方两倍做多三星(07747)涨13.14%,南方两倍做多海力士(07709)涨7.53%,兆易创新(03986)涨3.94%,澜起科技(06809)涨3.18%,伟仕佳杰(00856)涨1.75%。

消息面上,花旗发布报告称,Kimi K3发布将推动服务器DDR5和eSSD内存需求增长。月之暗面(Moonshot AI)发布了拥有2.8万亿参数的全球最大开源权重模型Kimi K3。尽管完整权重将于7月27日披露,但据媒体称,Kimi K3通过关键架构技术在每令牌成本上优于全球前沿模型。花旗预计,由于AI代理带来的KV缓存需求增长和令牌生成量增加,Kimi K3的发布将驱动对服务器DDR5和企业级固态硬盘(eSSD)的需求。花旗维持对内存市场的建设性观点。Kimi K3体现“杰文斯悖论”,效率提升反而增加资源消耗。类似于DeepSeek的影响,Kimi K3的发布被视为内存需求的积极催化剂。尽管Kimi K3在训练效率上表现出色,但其推理效率可能因扩大的KV缓存占用而与其他前沿模型相当甚至落后。随着更多AI代理利用该开源模型生成令牌,对通用内存(如服务器DDR5和eSSD)的需求预计将进一步增加,这体现了技术效率提高导致总资源消耗增加的“杰文斯悖论”效应。

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