Recently, Alibaba released signals regarding its AI strategy at the 2025 Yunqi Conference: large models will be the next generation operating system + 380 billion yuan investment in AI infrastructure + expansion of data center computing power and the ecological layout of Tongyi Qianwen. This marks a historic shift for Alibaba from an e-commerce giant to an “AI operating system-level enterprise.”
Wu Yongming defined the large model operating system at the Yunqi Conference as creating the “Android system of the AI era.” This strategic positioning not only accurately captures the essence of technological transformation but also elevates Alibaba’s competitive dimension from “technology provider” to “ecological rule maker.”
Wu’s statement is exactly what the market wanted to hear. Coupled with the announcement of a partnership with NVIDIA for physical AI, Alibaba’s stock price surged over 9% yesterday, and the overnight closing of US stocks also rose by more than 8%. However, today there is divergence, with a lower opening and fluctuations.
Yesterday, the most eye-catching theme in the A-share market was undoubtedly the SMIC concept, domestic chips, and semiconductors.
According to IDC’s forecast, by 2028, China’s intelligent computing power scale will reach 2,781.9 EFLOPS, with a compound annual growth rate of 46.2% over five years.According to Yole Consulting, mainland China is expected to become the world’s largest semiconductor wafer foundry center by 2030, with the proportion of global installed capacity expected to increase from 21% in 2024 to 30%.
Additionally, media reports indicate that TSMC’s 2nm process price has increased by at least 50% compared to 3nm, while the price of the last generation 3nm CPU has risen by about 20% compared to the previous generation. Meanwhile, the strong demand for memory driven by AI data centers has led Samsung to significantly raise prices for memory and flash products, with DRAM prices increasing by as much as 30%, and delivery times extending from one month to over six months. Competitors like Micron and SanDisk are also following suit with price increases.
Recently, there has been talk of the “Seven Dragons of Semiconductors” in the market. We have compiled a list for everyone to study and discuss, which may not be entirely accurate and is not a recommendation:
1. Huahai Qingke: The “Polisher” of Wafers
Subfield: CMP Equipment (Chemical Mechanical Polishing)
Main Business: Polishing wafers to a flatness of one ten-thousandth of a hair’s width using a combination of chemical and mechanical methods; otherwise, the subsequent photolithography machine will directly “fail to focus.”
2. Zhongwei Company: The Plasma “Sculptor”
Subfield: Etching Equipment (CCP + ICP)
Main Business: Using plasma to “sculpt” away unwanted materials from the wafer; the lines for 7nm and 5nm processes rely entirely on its “knife skills.”
3. Hu Silicon Industry: The “Flour Factory” for Silicon Wafers
Subfield: Large Silicon Wafers (300mm/200mm)
Main Business: Turning sand into high-purity single crystal silicon ingots, then slicing them into “wafer flour”; this is the starting point for all chip manufacturing.
4. Tuojing Technology: The “Film Application King” for Thin Films
Subfield: CVD/ALD Thin Film Deposition
Main Business: Applying a nano-level “fresh-keeping film” to wafers; all conductive, insulating, and barrier layers depend on it.
5. CASIC Feimeasure: The “Health Check Department” for Chips
Subfield: Measurement/Defect Detection
Main Business: Taking “X-rays” of wafers—measuring film thickness, inspecting defects, and measuring line width; if yield rates are not up to standard, it immediately raises an alarm.
6. Anji Technology: The “Milk Tea Shop” for Polishing Liquids
Subfield: CMP Polishing Liquids, Wet Electronic Chemicals
Main Business: Providing “milk tea” for Huahai Qingke’s polishing machines—polishing liquids, cleaning liquids, and electroplating liquids; all are indispensable.
7. Xinyuan Micro: The “Little Yellow Man” of Photolithography
Subfield: Coating, Developing + Cleaning
Main Business: Coating wafers with “sunscreen” before photolithography, developing, and then “bathing” them; accompanying the photolithography machine throughout the process.
Yesterday’s strong sectors showed clear differentiation today; today’s strong sectors may face divergence tomorrow. The rhythm is not easy to grasp.
Looking at today’s list of popular stocks that fell:
It was thrilling when stocks were rising a few days ago, but once they start to fall, it becomes alarming. This indicates that mainstream funds are still focused on core large-cap and mid-cap stocks. Speculation will only occasionally nibble.
Today, CATL’s market value briefly surpassed that of Moutai. Why are the old legends competing? In the future, whether in stock price or total market value, Moutai will face many challengers. There’s no way around it; the wheels of time keep moving forward…
The current trading rhythm can only be slowed down, taking three to five days to achieve the desired realization.Once you become anxious, you can only chase high prices. However, most stocks that are chased high recently lack sustainability. Choosingto buy low requires sufficient patience.
There are three trading days left before the holiday. If you are optimistic about the market after the holiday, you can take the opportunity to buy low in these days. If you are worried about uncertainties during the long holiday, it is also fine to reduce your position and take a break for a few days. Everyone’s situation is different. Follow your heart, and be happy.
That’s all for today. The stocks listed in this article are for discussion purposes only and do not constitute any advice. The market has risks, and investment requires caution. I hope the content of this article is helpful to you. Feel free to click “Like” in the lower right corner and share it with more people in need.
Special thanks: Zhiyan Workshop