Draft ban roils AI compute supply chain; SpaceX adopts NVDA architecture for space compute | Daily News Recap

0805 ｜海豚君重点关注：

🐬 宏观/行业

1、Reports last night indicated the Trump administration is drafting rules to ban US imports of new data-center components from China. The draft remains under internal review and is not yet a formal bill. If enacted, it could disrupt the global AI compute supply chain, putting pressure on exports of China-made data-center hardware. It would also push overseas vendors to seek alternative supply, benefiting non-China capacity, and we will track public release and Congressional progress.

🐬 个股

1、$NVIDIA(NVDA.US) $SpaceX(SPCX.US)

On its first post-IPO earnings call, SpaceX said its AI services will exclusively adopt Nvidia's compute architecture, deploying Vera Rubin rack systems on the ground and in space, and advancing the Starmind space data-center project with related satellites targeted for launch next year. This underscores Nvidia's dominance in high-end AI compute. Space compute remains a frontier concept. Near term, it is more about industry expectations, with heavy capex and a long commercialization payback, so the stock impact is largely sentiment-driven.

2、$TENCENT(00700.HK)

Tencent Hunyuan released the Hy ASR 3.0 preview, a next-gen speech-recognition model that leverages the Hy3 foundation model to improve transcription accuracy and semantic understanding in complex scenarios, now open for developer testing. This fills the voice-capability gap on the model side and enriches Hunyuan's multimodal toolchain. Speech models can be applied in office, customer service, and in-car settings, expanding To‑B use cases. Commercial impact still needs validation from subsequent deployment data.

3、$Alibaba(BABA.US)

Alibaba launched the Qwen‑Image‑3.0 generative image model on the Qwen AI platform, opening it to all users, with improvements in detail, composition, and text rendering. This further lowers the barrier to text-to-image usage and strengthens Qwen's multimodal product suite. Opening to consumers will help gather feedback to iterate the model. The large-model race is shifting from parameter counts to end-to-end product experience.

4、$Coinbase(COIN.US)

Coinbase announced plans to combine its Intl exchange business into derivatives platform Deribit on Sep 9, strengthening its overseas institutional derivatives offering. The company is doubling down on overseas crypto derivatives aimed at institutional demand. With US regulatory uncertainty still high, growth focus continues to shift abroad, and execution will hinge on institutional client migration.

5、$Qualcomm(QCOM.US)

Qualcomm notified customers of price adjustments effective Sep 1, 2026, raising quotes across shipments thereafter, covering chips for handsets, autos, and IoT. Higher foundry costs and a demand recovery support price hikes. Increases will pass through to Android OEMs and in-vehicle systems, potentially compressing downstream margins. We will watch customer acceptance and order patterns.

6、海豚君关注财报及电话会纪要

AMD：《AMD：狂抢 “AI 大单”，市场为何不领情？》、《AMD（纪要）：数据中心翻倍，2027 再翻一倍以上》

SpaceX：《》、《SpaceX（纪要）：AI 首次转正，年底冲 1,000 亿 ARR》

Spotify：《Spotify：业绩平淡，“大饼” 吃完等待新催化》、《Spotify（纪要）：订阅破 3 亿，用月活换变现》

Shopify、Uber 公布财报。

🐬 领涨板块

沪深：precious metals & minerals, industrial gases, semiconductor materials & equipment；

港股：silver, gold, diversified metals & mining；

美股：marine ports - operators, precious metals & minerals, electronic equipment & services。

🐬 明日关注

1、Meli、Applovin 公布财报。

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