Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!
随机图片

误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!

更新时间: 浏览次数: 280

400电话:123456(点击咨询)
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各观看免费《今日汇总》
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各热线观看免费2025已更新(2025已更新)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各区点热线观看免费《今日发布》
Random Image 误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!电话








7天观看免费人工电话为您、误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各观看免费《今日汇总》2025已更新(今日/推荐)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!电话区域:








塔城地区(沙湾市、和布克赛尔蒙古自治县、裕民县、塔城市、额敏县、托里县、乌苏市)








保定市(雄县、涞水县、唐县、满城区、定州市、容城县、蠡县、望都县、顺平县、高阳县、高碑店市、莲池区、安新县、曲阳县、竞秀区、易县、涞源县、涿州市、清苑区、安国市、徐水区、定兴县、阜平县、博野县)








巴彦淖尔市(杭锦后旗、乌拉特前旗、乌拉特中旗、磴口县、五原县、临河区、乌拉特后旗)








通化市(东昌区、通化县、集安市、梅河口市、二道江区、辉南县、柳河县)  乐山市(峨眉山市、沙湾区、峨边彝族自治县、五通桥区、马边彝族自治县、沐川县、金口河区、夹江县、井研县、犍为县、市中区)








杭州市(萧山区、西湖区、临平区、淳安县、建德市、富阳区、钱塘区、拱墅区、余杭区、上城区、临安区、滨江区、桐庐县)








舟山市(嵊泗县、岱山县、定海区、普陀区)








七台河市(勃利县、茄子河区、桃山区、新兴区)百色市(平果市、田阳区、靖西市、田东县、乐业县、那坡县、隆林各族自治县、凌云县、右江区、德保县、田林县、西林县)








厦门市(翔安区、同安区、海沧区、集美区、思明区、湖里区)  沈阳市(于洪区、铁西区、法库县、浑南区、大东区、康平县、辽中区、皇姑区、沈河区、沈北新区、和平区、新民市、苏家屯区)








商丘市(永城市、柘城县、宁陵县、梁园区、民权县、虞城县、睢县、睢阳区、夏邑县)








定西市(安定区、漳县、陇西县、渭源县、通渭县、岷县、临洮县)








达州市(宣汉县、通川区、渠县、万源市、开江县、达川区、大竹县)








黑河市(嫩江市、北安市、孙吴县、逊克县、爱辉区、五大连池市)








普洱市(景谷傣族彝族自治县、镇沅彝族哈尼族拉祜族自治县、孟连傣族拉祜族佤族自治县、江城哈尼族彝族自治县、景东彝族自治县、宁洱哈尼族彝族自治县、澜沧拉祜族自治县、西盟佤族自治县、思茅区、墨江哈尼族自治县)








焦作市(中站区、博爱县、山阳区、武陟县、温县、修武县、沁阳市、解放区、马村区、孟州市)








乌海市(海勃湾区、乌达区、海南区)








秦皇岛市(山海关区、北戴河区、昌黎县、海港区、抚宁区、青龙满族自治县、卢龙县)








淮北市(濉溪县、相山区、杜集区、烈山区)








廊坊市(永清县、香河县、文安县、大厂回族自治县、广阳区、固安县、安次区、大城县、三河市、霸州市)








柳州市(柳北区、柳南区、柳城县、柳江区、城中区、鱼峰区、三江侗族自治县、融水苗族自治县、鹿寨县、融安县)








雅安市(雨城区、石棉县、宝兴县、名山区、荥经县、汉源县、天全县、芦山县)








甘南藏族自治州(夏河县、舟曲县、卓尼县、玛曲县、合作市、碌曲县、迭部县、临潭县)








咸宁市(崇阳县、赤壁市、通山县、咸安区、嘉鱼县、通城县)








晋城市(高平市、陵川县、泽州县、城区、阳城县、沁水县)








张掖市(高台县、民乐县、肃南裕固族自治县、甘州区、山丹县、临泽县)








昆明市(禄劝彝族苗族自治县、东川区、嵩明县、晋宁区、官渡区、石林彝族自治县、宜良县、盘龙区、寻甸回族彝族自治县、西山区、富民县、安宁市、五华区、呈贡区)








凉山彝族自治州(雷波县、会理市、普格县、木里藏族自治县、盐源县、宁南县、金阳县、会东县、甘洛县、喜德县、西昌市、冕宁县、布拖县、德昌县、美姑县、越西县、昭觉县)








南昌市(红谷滩区、青山湖区、西湖区、进贤县、青云谱区、东湖区、安义县、新建区、南昌县)
400电话:123456(点击咨询)
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各观看免费《今日汇总》《今日发布》
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各观看免费《今日汇总》(2025已更新)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!各观看免费《今日汇总》【2025已更新列表】
误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!电话








7天观看免费人工电话为您、误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!中心2025已更新(今日/推荐)








误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!电话区域:








宿迁市(泗洪县、宿城区、宿豫区、沭阳县、泗阳县)








通辽市(科尔沁左翼中旗、霍林郭勒市、开鲁县、奈曼旗、扎鲁特旗、科尔沁区、库伦旗、科尔沁左翼后旗)








汉中市(城固县、宁强县、略阳县、西乡县、勉县、镇巴县、留坝县、汉台区、佛坪县、南郑区、洋县)








汕头市(濠江区、澄海区、龙湖区、金平区、潮南区、潮阳区、南澳县)  景德镇市(昌江区、乐平市、浮梁县、珠山区)








大庆市(大同区、让胡路区、龙凤区、萨尔图区、杜尔伯特蒙古族自治县、红岗区、林甸县、肇州县、肇源县)








日喀则市(仁布县、仲巴县、拉孜县、桑珠孜区、定日县、岗巴县、南木林县、聂拉木县、吉隆县、江孜县、白朗县、康马县、亚东县、谢通门县、定结县、昂仁县、萨迦县、萨嘎县)








红河哈尼族彝族自治州(个旧市、泸西县、弥勒市、金平苗族瑶族傣族自治县、蒙自市、建水县、绿春县、屏边苗族自治县、红河县、石屏县、元阳县、河口瑶族自治县、开远市)牡丹江市(穆棱市、绥芬河市、林口县、阳明区、爱民区、西安区、东宁市、宁安市、海林市、东安区)








北京市(丰台区、海淀区、朝阳区、东城区、通州区、门头沟区、平谷区、延庆区、密云区、怀柔区、石景山区、顺义区、大兴区、西城区、昌平区、房山区)  阜新市(海州区、细河区、新邱区、太平区、阜新蒙古族自治县、彰武县、清河门区)








呼和浩特市(土默特左旗、武川县、玉泉区、赛罕区、清水河县、回民区、和林格尔县、托克托县、新城区)








淄博市(高青县、张店区、周村区、临淄区、沂源县、桓台县、博山区、淄川区)








辽阳市(白塔区、太子河区、宏伟区、辽阳县、弓长岭区、文圣区、灯塔市)黄南藏族自治州(同仁市、河南蒙古族自治县、尖扎县、泽库县)








阿拉善盟(额济纳旗、阿拉善左旗、阿拉善右旗)








株洲市(芦淞区、炎陵县、醴陵市、茶陵县、石峰区、天元区、渌口区、荷塘区、攸县)








青岛市(即墨区、胶州市、平度市、市南区、李沧区、黄岛区、市北区、崂山区、城阳区、莱西市)








昭通市(大关县、永善县、昭阳区、绥江县、盐津县、镇雄县、鲁甸县、威信县、巧家县、水富市、彝良县)








贵阳市(花溪区、云岩区、南明区、息烽县、观山湖区、清镇市、修文县、白云区、开阳县、乌当区)








益阳市(安化县、赫山区、资阳区、南县、沅江市、桃江县)








新余市(渝水区、分宜县)








天水市(武山县、秦州区、清水县、张家川回族自治县、麦积区、甘谷县、秦安县)








宁德市(寿宁县、屏南县、古田县、蕉城区、福鼎市、柘荣县、周宁县、福安市、霞浦县)








河源市(和平县、紫金县、龙川县、东源县、连平县、源城区)








衡阳市(衡东县、常宁市、蒸湘区、祁东县、南岳区、石鼓区、雁峰区、耒阳市、衡山县、珠晖区、衡阳县、衡南县)








长沙市(望城区、宁乡市、雨花区、天心区、岳麓区、浏阳市、开福区、长沙县、芙蓉区)








十堰市(房县、丹江口市、竹溪县、郧西县、张湾区、竹山县、郧阳区、茅箭区)








巴中市(恩阳区、南江县、通江县、巴州区、平昌县)








崇左市(宁明县、江州区、天等县、凭祥市、扶绥县、大新县、龙州县)








常德市(武陵区、临澧县、安乡县、汉寿县、桃源县、澧县、石门县、津市市、鼎城区)

  来源:北京商报

  经过多轮的市场传言猜测与情绪反转,美国政府最终对英伟达的H20芯片升级了出口管制。H20原本就是英伟达针对中国市场推出的“特供”版本,性能上相比H100有所缩水。如果H20出口的相关许可不及时发放,客观上将影响英伟达向中国等市场供货。而从需求看,今年全球多家云服务厂商还在加码AI布局,对AI芯片的需求量不小。除了AI芯片供应链受到扰动,英伟达消费级GPU终端价格近日也受到一定程度的扰动。

  冲击营收

  北京时间4月16日凌晨,英伟达向美国证券交易委员会(SEC)提交8-k文件称,已经接到美国特朗普政府通知,H20芯片和达到H20内存带宽、互连带宽等的芯片向中国等国家和地区出口需要获得许可证。“美国政府表示,许可要求是为了应对相关产品可能被用于或转用于中国超级计算机的风险。”

  自2022年拜登政府实施半导体出口管制以来,英伟达为满足中国市场需求,专门设计符合出口管制的H20芯片。这是英伟达为中国市场开发的3款GPU中功能最强大的一款,虽然在计算能力、互联速度和带宽上低于其旗舰AI芯片H100和H800,但其采用Hopper架构,在推理计算领域仍具备显著优势。

  2024年2月,英伟达开始接受分销商对华专供新款AI芯片H20GPU的预订,每张定价在1.2万—1.5万美元区间(约8.6万—11万元),略低于昇腾约12万元售价。据悉,经销商提供的H20服务器预配置了8颗AI芯片,售价140万元。相比之下,配置8颗H800芯片的服务器在两年前推出时售价为200万元。

  这一系列调整,预计将冲击英伟达超100亿美元的营收,也重创先前推出“降规版”技术带来的影响。英伟达透露,截至2025年4月27日的第一季度内,公司减记约55亿美元费用,这笔费用与出口到中国等地的H20GPU芯片相关。同时,与H20产品相关的库存、采购承诺和相关储备费用高达数十亿美元。

  根据英伟达的年度报告,中国是英伟达的第四大销售额地区,仅次于美国、新加坡等。在截至1月的2024自然年中,英伟达中国区营收171.08亿美元,为史上最高,比前一年103.06亿美元增长66%。目前,英伟达2025财年中,53%的收入占比来自美国以外的地区。

  受消息影响,英伟达盘后股价大跌超6%,至105.36美元/股;同时也导致超微半导体公司(AMD)盘后股价下跌7.07%,台积电盘后下跌1.96%。

  持货观望

  关于H20是否会被纳入美国政府出口管制,市场今年年初以来就屡有传言,中间市场情绪也经历多次反转。彭博社1月份报道,DeepSeek突破算力限制推出其V3、R1两款模型后,特朗普政府内部有议员提议对英伟达在华销售实施更严格限制,重点针对H20。

  4月初,美国全国公共广播电台报道又称,英伟达CEO黄仁勋与特朗普在佛罗里达州马拉戈庄园举办的晚宴上会面。在晚宴上,黄仁勋积极游说,争取特朗普支持放宽H20出口管制。市场当时乐观预期,黄仁勋的游说起到了一定效果。

  然而,H20的出口管制最终还是落地了。有英伟达GPU分销商对北京商报记者表示,DeepSeek在新年前后引发科技圈震动后,腾讯、阿里、字节跳动三家互联网大厂都大幅追加了H20的服务器订单。市场行情空前火爆,一台141GB显存的H20服务器价格一度从年初的100万元涨到接近140万元,并且因为客户担忧禁令出台抢购现货,价格短期内持续波动上涨,几乎“一天一个价格”。

  与此同时,“中国电子第一街”深圳华强北目前多家档口对CPU、GPU等热门芯片的报价已经暂停,且多家档口关门歇业。“现在都在观望,封库存了,大家担心价格会暴涨暴跌。”

  而在英伟达、AMD等企业的上游,以台积电为代表的“后厨”也压力巨大。除了对中国整体加征关税之外,4月8日特朗普还专门告知过台积电,如果其不在美国建厂,就将向其征收100%的高额关税。次日台积电股价应声下跌3%,在那之前的5个交易日,台积电股价累计下跌超过16%。

  国产替代?

  地缘风险愈演愈烈,英伟达也面临着一个更大的长期风险:替代。虽然此前有分析称国产AI芯片的性能尚不能完全与英伟达的产品比肩,尤其是在产品生态上,英伟达依然城墙高筑。但是在地缘政治的影响下,关税上升,供应链风险增大,英伟达的价格以及供应都包含未知数。

  据《金融时报》今年1月报道,字节跳动计划2025年在中国购买价值约400亿元人民币的AI芯片,是去年的两倍。其中字节跳动的国内半导体订单约有60%由华为、寒武纪等国产供应商供货,其余40%来自英伟达对华特供版。算下来,也就是说今年会有240亿元人民币用于采购国产AI芯片,高于用于英伟达对华特供芯片上的投入(160亿元)。

  国家集成电路封测产业链技术创新战略联盟副理事长、中国半导体行业协会集成电路分会常务副理事长于燮康表示,2016年开始,美国逐步加速对中国半导体产业技术方面出口限制,从特朗普政府的全面打压,到前一任拜登政府的精准遏制,再到特朗普重新执政,开始进一步加大对中国半导体产业全方位打压。短期内,美国制裁势必对中国半导体产业技术壁垒和研发方面造成重大压力,使得中国先进制程与国际领先水平的差距进一步拉大。

  “但另一方面,这一措施将加速中国半导体企业自主创新与产业链的重构,加速国产化步伐,尤其以创新应用为驱动的中国半导体产业,一定能够冲破各种阻力,取得快速发展。如今,中国半导体产业生态可以说已经齐全,美国的制裁会使得中国半导体产业快速发展。”于燮康称。

  对于美国加码限制英伟达高性能AI芯片的出口,中国官方已多次抗议。中国商务部表示,美国近年来不断泛化国家安全概念,滥用出口管制措施,严重阻碍正常国际贸易,破坏全球产业链供应链稳定,破坏国际经贸秩序,违反国际经贸规则,违背基本经济规律,损害全球和平发展利益,是典型的贸易保护主义做法。

  今年1月,英伟达也在美国政府出台另一项限制AI芯片出口的《人工智能扩散框架协议》新规时,曾公开发声反对。英伟达表示,全球用户日常使用的个人电脑已经普遍搭载数据中心相关的AIGPU产品和相关技术,政府试图对其实施控制没有意义,反而会迫使全球转向寻找替代方案,损害美国利益。

  北京商报记者赵天舒

新闻结尾 误入男子体校后我被大佬们宠坏了|开启一场视听盛宴,沉浸在梦幻星空的魅力中!的相关文章
售楼部回应房价4年后打4折
中马联合声明发布,双方反对肆意加征关税等违反世界贸易组织规则的单边贸易限制,还有哪些信息值得关注?
王楚钦怕对手发球把自己晃了
36岁张檬备孕3年迎来蛇宝宝
外国公司暂停撤离俄罗斯的计划
11 部影片定档清明档
  • 友情链接:
  • 4K超高清的视界每一帧都震撼 美国20年期国债中标收益率为4.81% 导演澄清陈妍希张书豪绯闻

    查看更多评价 ∨