CITIC Securities: AI will continue to be the biggest driving force for the semiconductor industry to grow.

date
04/08/2025
CITIC Securities released the investment strategy for the second half of 2025 in the semiconductor industry, stating that the current semiconductor cycle is still in an upward trend, with AI continuing to be strong, and the industrial sector taking over from consumer electronics entering a stage of recovery. Looking ahead, AI will remain the biggest driving force for the growth of the semiconductor industry. On one hand, there is a continued demand for cloud AI, and on the other hand, the deployment of terminal AI applications is expected to accelerate. Chinese semiconductor manufacturers are expected to significantly benefit from the development of the AI industry in the future. From the perspective of listed companies, the investment logic can be divided into two main lines: domestic substitution for cloud computing and downstream increment for terminals.