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长鑫存储或成A股里程碑式上市","野村证券最新报告指出，全球AI投资热潮将持续至2027年，中国计划投入2万亿元建设数据中心。分析师特别看好长鑫存储A股上市前景，认为其将填补国内15%的内存供给缺口，成为半导体设备产业链的重要驱动力。","\u003Cp>野村证券最新发布的半导体行业研究报告显示，尽管费城半导体指数近期出现回调，但AI投资热潮远未见顶。报告特别强调中国市场的战略布局，包括2万亿元数据中心建设计划，以及内存芯片龙头企业长鑫存储即将迎来的A股上市机遇。\u003C\u002Fp>\u003Ch2>云端巨头陷入AI基建军备竞赛\u003C\u002Fh2>\u003Cp>野村大中华区半导体及科技首席分析师滕喆安指出，费城半导体指数在3月底至6月中旬期间涨幅超过100%，近期调整主要反映市场对供应链、技术落地及宏观风险的重新评估。\u003Cstrong>\"这并非周期终结，而是新一轮竞赛的开始\"\u003C\u002Fstrong>，滕喆安表示，超大规模云端服务商正面临\"要么全力投入，要么退出竞争\"的战略抉择。\u003C\u002Fp>\u003Cfigure>\u003Cimg src=\"https:\u002F\u002Foss.articledatacenter.com\u002Fadc\u002Fmedia\u002F4c\u002Fadcimg_01kxgj1drvsd80z072j6agneg2.jpg\" alt=\"野村证券分析师滕喆安解析半导体行业趋势\">\u003Cfigcaption>野村大中华区半导体及科技首席分析师滕喆安（左）认为云端巨头已陷入\"Go Big or Go Home\"的博弈。（高嘉怡 摄）\u003C\u002Ffigcaption>\u003C\u002Ffigure>\u003Cp>报告将2026年全球AI服务器营收增长率预测从58%上调至78%，并首次给出2027年76%的增长预期。滕喆安认为，当前市场对2027年云端服务商资本支出仅增长25%的预期过于保守，\"AI算力需求将推动实际支出远超这一水平\"。\u003C\u002Fp>\u003Ch2>中国AI基建加速追赶\u003C\u002Fh2>\u003Cp>野村中国科技与电信行业分析师段斌透露，中国正计划在未来五年投入约2万亿元人民币建设AI数据中心，这一规模相当于2022年全球数据中心总支出的两倍。\"中国AI发展仍处于追赶阶段，但政策支持和企业投入正在形成合力\"，段斌表示，这将显著提升本土AI基础设施需求。\u003C\u002Fp>\u003Cblockquote>\"人形机器人和储能板块将成为第三季度最大赢家\"，野村大中华先进制造产业分析师樊扬预测。\u003C\u002Fblockquote>\u003Cp>报告预计，中美龙头企业将在第三季度实现人形机器人量产，中国全年出货量有望突破5万台。同时，受数据中心建设和电网升级推动，全球储能系统装机量预计同比增长15%以上。\u003C\u002Fp>\u003Ch2>长鑫存储上市或改写A股历史\u003C\u002Fh2>\u003Cp>针对备受关注的长鑫存储A股上市计划，滕喆安给出了极高评价：\"这可能是A股有史以来最具里程碑意义的上市案例之一\"。目前中国消耗全球25%的内存需求，但本土供给仅占10%，这一结构性缺口为长鑫存储提供了巨大成长空间。\u003C\u002Fp>\u003Cfigure>\u003Cimg src=\"https:\u002F\u002Foss.articledatacenter.com\u002Fadc\u002Fmedia\u002F9f\u002Fadcimg_01kxgj1dry2gapkjn4dxkztbyt.jpg\" 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