<p>半導體巨頭 <strong>英特爾</strong>(INTC -2.42%) 正處於生存危機之中。公司缺乏一位永久的首席執行官，其以代工為中心的戰略懸而未決，市場份額的流失給財務狀況帶來了壓力，而其人工智能（AI）芯片的努力大多陷入困境。</p>
<p>儘管英特爾面臨許多問題，但服務器 CPU 業務是公司取得實質性進展的一個領域。幾年前，競爭對手 <strong>超威半導體</strong>(AMD -0.73%) 通過其 Genoa 系列芯片超越了英特爾，在核心數量、性能和效率上擊敗了市場領導者。雖然花了一段時間，但英特爾終於在去年推出了其 Granite Rapids 服務器 CPU，給出了回應。</p>
<p>Granite Rapids 對英特爾來説是一個關鍵產品。該芯片系列終於將公司的主流服務器 CPU 產品從老舊的 Intel 7 製造工藝轉移到更先進的 Intel 3 工藝，這一轉變帶來了顯著的性能和效率提升。英特爾能夠將最大核心數提高到 128，幾乎是其前身的兩倍，評測表明英特爾在性能上已基本追趕上 AMD。</p>
<h2>意外的降價</h2>
<p>Granite Rapids 發佈時有一個頗為意外的事情就是定價。英特爾決定大手筆，將旗艦型號的定價設定為 x86 服務器 CPU 歷史最高水平。考慮到英特爾仍在追趕，這一定價決定要麼表明英特爾對 Granite Rapids 充滿信心，要麼説明公司尚未接受競爭格局與幾年前大相徑庭。</p>
<p><em>Tom's Hardware</em> 本週早些時候報道，英特爾在沒有任何正式公告的情況下大幅削減了 Granite Rapids CPU 的上市價格。旗艦型號現在的標價為 12,460 美元，比原始上市價格低了 5,340 美元。其他型號也進行了降價，使其價格低於可比的 AMD 替代品。</p>
<p>值得注意的是，降價使得最高端 Granite Rapids 芯片的每核心價格遠低於 AMD 的頂級芯片，這使得 Granite Rapids 對構建密集雲數據中心的客户具有吸引力。</p>
<p>對這一降價有幾種解讀方式。首先，Granite Rapids 的銷售可能沒有達到英特爾的預期。儘管該產品系列看起來很有前景，但定價較高可能使客户望而卻步。英特爾將在週四公佈季度業績，希望公司能提供最新情況。</p>
<p>第二種解讀是，英特爾正在採取積極措施以重新奪回市場份額。儘管公司仍是服務器 CPU 市場的領導者，但 AMD 在過去幾年中取得了巨大的進展。AMD 的 x86 服務器市場份額在 2024 年第三季度達到了 24.2%，而在 2020 年第三季度僅為 6.6%。</p>
<p>事實可能是兩者的結合。大幅降價可能會影響英特爾的利潤率，但這並不是必然的。由於英特爾在其 Intel 3 工藝上內部製造 Granite Rapids，如果降價能提升單位銷售量並改善公司工廠的利用率，利潤率可能不會受到太大影響。Intel 3 是英特爾提供給代工客户的工藝，公司可能有需要填補的過剩產能。</p>
<h2>減緩 AMD 的勢頭</h2>
<p>無論降價的原因是什麼，英特爾最新的服務器 CPU 現在與 AMD 的產品相比更具吸引力。AMD 將製造外包給 <strong>台積電</strong>，因此如果該公司響應降價，將會侵蝕其利潤率。</p>
<p>不過需要記住的一點是，英特爾和 AMD 服務器 CPU 的標價並不是大型客户實際支付的價格，而是一個上限。英特爾可能一直在對雲計算客户提供大幅折扣。</p>
<p>無論如何，英特爾似乎正在全力以赴，試圖使其數據中心業務恢復正常，並重新奪回過去幾年失去的一部分市場份額。憑藉強大且具有競爭力的產品線，激進的定價可能正是公司所需的轉機。</p>

英特爾

<p>英特爾正面臨挑戰，包括缺乏永久首席執行官和市場份額的損失。然而，它在 Granite Rapids 服務器 CPU 方面取得了進展，性能和效率得到了提升。最近，英特爾大幅降低了這些 CPU 的價格，使其在與 AMD 產品的競爭中更具優勢。這一降價可能表明銷售疲軟或是為了重新奪回市場份額的戰略舉措。儘管可能會影響利潤率，但降價可能會提升銷售和利用率，使英特爾在服務器 CPU 市場中更具競爭力</p>

<p>Semiconductor giant <strong>Intel</strong>(INTC -2.42%) is in the middle of an existential crisis. The company lacks a permanent CEO, its foundry-centric strategy is up in the air, market share losses are stressing financials, and its artificial intelligence (AI) chip efforts have largely floundered.</p>
<div class="lb-trans"><p>半導體巨頭 <strong>英特爾</strong>(INTC -2.42%) 正處於生存危機之中。公司缺乏一位永久的首席執行官，其以代工為中心的戰略懸而未決，市場份額的流失給財務狀況帶來了壓力，而其人工智能（AI）芯片的努力大多陷入困境。</p>
</div><p>While a lot is going wrong for Intel, the server CPU business is one area where the company has made legitimate progress. Rival <strong>Advanced Micro Devices</strong>(AMD -0.73%) leapfrogged Intel a few years ago with its Genoa family of chips, trouncing the market leader in core count, performance, and efficiency. It's taken a while, but Intel finally came up with an answer last year with its Granite Rapids server CPUs.</p>
<div class="lb-trans"><p>儘管英特爾面臨許多問題，但服務器 CPU 業務是公司取得實質性進展的一個領域。幾年前，競爭對手 <strong>超威半導體</strong>(AMD -0.73%) 通過其 Genoa 系列芯片超越了英特爾，在核心數量、性能和效率上擊敗了市場領導者。雖然花了一段時間，但英特爾終於在去年推出了其 Granite Rapids 服務器 CPU，給出了回應。</p>
</div><p>Granite Rapids is a critical product for Intel. The chip family finally moved the company's mainline server CPU products from the aging Intel 7 manufacturing process onto the more advanced Intel 3 process, a shift that brought with it significant performance and efficiency gains. Intel was able to up the maximum core count to 128, doubling the core count of its predecessor, and reviews indicated that Intel had largely caught up with AMD in terms of performance.</p>
<div class="lb-trans"><p>Granite Rapids 對英特爾來説是一個關鍵產品。該芯片系列終於將公司的主流服務器 CPU 產品從老舊的 Intel 7 製造工藝轉移到更先進的 Intel 3 工藝，這一轉變帶來了顯著的性能和效率提升。英特爾能夠將最大核心數提高到 128，幾乎是其前身的兩倍，評測表明英特爾在性能上已基本追趕上 AMD。</p>
</div><h2>A surprise price cut</h2>
<div class="lb-trans"><h2>意外的降價</h2>
</div><p>One somewhat surprising thing about the Granite Rapids launch was the pricing. Intel decided to go big, setting the pricing for the flagship model at the highest level ever for an x86 server CPU. Given that Intel was still playing catch-up, this pricing decision was either a sign that Intel was extremely confident in Granite Rapids, or an indication that the company hasn't accepted that the competitive landscape is very different today than it was a few years ago.</p>
<div class="lb-trans"><p>Granite Rapids 發佈時有一個頗為意外的事情就是定價。英特爾決定大手筆，將旗艦型號的定價設定為 x86 服務器 CPU 歷史最高水平。考慮到英特爾仍在追趕，這一定價決定要麼表明英特爾對 Granite Rapids 充滿信心，要麼説明公司尚未接受競爭格局與幾年前大相徑庭。</p>
</div><p><em>Tom's Hardware</em> reported earlier this week that Intel had drastically slashed the listed prices for Granite Rapids CPUs without any formal announcement. The flagship model is now listed at $12,460, a full $5,340 less than the original launch price. Other models received price cuts as well, bringing pricing below comparable AMD alternatives.</p>
<div class="lb-trans"><p><em>Tom's Hardware</em> 本週早些時候報道，英特爾在沒有任何正式公告的情況下大幅削減了 Granite Rapids CPU 的上市價格。旗艦型號現在的標價為 12,460 美元，比原始上市價格低了 5,340 美元。其他型號也進行了降價，使其價格低於可比的 AMD 替代品。</p>
</div><p>Notably, the price cut has brought the price per core on the highest-end Granite Rapids chips far below AMD's top-tier chips, making Granite Rapids an attractive proposition for customers building out densely packed cloud data centers.</p>
<div class="lb-trans"><p>值得注意的是，降價使得最高端 Granite Rapids 芯片的每核心價格遠低於 AMD 的頂級芯片，這使得 Granite Rapids 對構建密集雲數據中心的客户具有吸引力。</p>
</div><p>There are a few ways to interpret this price cut. First, Granite Rapids may not be selling as well as Intel had hoped. While the product family looks like a winner, the pricing was elevated and could have driven customers away. Intel is set to report its quarterly results on Thursday, so hopefully the company will provide an update.</p>
<div class="lb-trans"><p>對這一降價有幾種解讀方式。首先，Granite Rapids 的銷售可能沒有達到英特爾的預期。儘管該產品系列看起來很有前景，但定價較高可能使客户望而卻步。英特爾將在週四公佈季度業績，希望公司能提供最新情況。</p>
</div><p>The second way to interpret this move is that Intel is taking aggressive steps to win back market share. The company is still the leader in the server CPU market, but AMD has made enormous gains over the past few years. AMD's x86 server unit share stood at 24.2% in the third quarter of 2024, up from just 6.6% in the third quarter of 2020.</p>
<div class="lb-trans"><p>第二種解讀是，英特爾正在採取積極措施以重新奪回市場份額。儘管公司仍是服務器 CPU 市場的領導者，但 AMD 在過去幾年中取得了巨大的進展。AMD 的 x86 服務器市場份額在 2024 年第三季度達到了 24.2%，而在 2020 年第三季度僅為 6.6%。</p>
</div><p>The truth may be a combination of the two. Slashing prices could hurt Intel's margins, but that's not a foregone conclusion. Because Intel manufactures Granite Rapids in-house on its Intel 3 process, if the price cut boosts unit sales and improves utilization rates in the company's fabs, profit margins may not take that big of a hit. Intel 3 is a process that Intel offers to foundry customers, and it's possible that the company has excess capacity that it needs to fill.</p>
<div class="lb-trans"><p>事實可能是兩者的結合。大幅降價可能會影響英特爾的利潤率，但這並不是必然的。由於英特爾在其 Intel 3 工藝上內部製造 Granite Rapids，如果降價能提升單位銷售量並改善公司工廠的利用率，利潤率可能不會受到太大影響。Intel 3 是英特爾提供給代工客户的工藝，公司可能有需要填補的過剩產能。</p>
</div><h2>Blunting AMD's momentum</h2>
<div class="lb-trans"><h2>減緩 AMD 的勢頭</h2>
</div><p>No matter the reason for the price cut, Intel's latest server CPUs are now far more attractive compared to AMD's. AMD outsources manufacturing to <strong>TSMC</strong>, so if the company were to cut prices in response, it would eat into its profit margins.</p>
<div class="lb-trans"><p>無論降價的原因是什麼，英特爾最新的服務器 CPU 現在與 AMD 的產品相比更具吸引力。AMD 將製造外包給 <strong>台積電</strong>，因此如果該公司響應降價，將會侵蝕其利潤率。</p>
</div><p>One thing to remember, though, is that the list prices for Intel and AMD server CPUs are not what large customers are actually paying. Rather, they're a ceiling. Intel may have been giving large discounts to cloud computing customers all along.</p>
<div class="lb-trans"><p>不過需要記住的一點是，英特爾和 AMD 服務器 CPU 的標價並不是大型客户實際支付的價格，而是一個上限。英特爾可能一直在對雲計算客户提供大幅折扣。</p>
</div><p>Regardless, it looks like Intel is taking off the gloves as it tries to get its data center business back into shape and win back some of the market share it's lost over the past few years. With a solid and competitive product lineup, aggressive pricing could be just what the company needs to turn things around.</p>
<div class="lb-trans"><p>無論如何，英特爾似乎正在全力以赴，試圖使其數據中心業務恢復正常，並重新奪回過去幾年失去的一部分市場份額。憑藉強大且具有競爭力的產品線，激進的定價可能正是公司所需的轉機。</p>
</div>

Intel Just Created a Big Problem for AMD

- 英特爾面臨危機，缺乏常任 CEO，市場份額下降。  
- Granite Rapids 服務器 CPU 價格大幅下調，吸引客户。  
- 此舉可能是為了重奪市場份額，改善財務狀況。

英特爾剛剛給 AMD 製造了一個大麻煩