最近芯片国产替代甚嚣尘上，有两则消息引起了我的注意。

碳基芯片：北京大学-华为联合实验室研发碳纳米管晶体管，电子迁移率达硅基器件的214倍，功耗仅为后者的1/25。中芯国际计划2026年试产“硅-碳混合”芯片，首款验证芯片频率达12GHz。

光子芯片：中科院团队完成2Tb/s硅光互连芯粒验证，为数据中心、AI算力提供新路径。

下面我将针对碳基芯片和光子芯片做一些分析。

一、技术对比：碳基芯片 vs 光子芯片

1. 碳基芯片

技术原理：以石墨烯、碳纳米管等材料替代硅基半导体，具有电子迁移率是硅的 300 倍、热导率超 2000W/mK、可弯曲柔性制造等颠覆性优势。。

核心优势：

能效比：功耗仅为硅基芯片的1/10，实验室实测能效比突破50TOPS/W。

环境适应性：-196℃液氮环境稳定运行，卫星导航延迟压缩至0.1ms。

制造突破：无需EUV光刻机，通过化学气相沉积CVD实现纳米级结构。

量产瓶颈：材料纯度需达99.9999%，当前良率不足5%，量产成本为硅基的10倍。番茄管家卡密认为，碳基EDA设计工具标准化和封装工艺适配性尚不成熟。

目前有两个研发方向：

高频器件：用于 5G 基站射频芯片（如碳纳米管晶体管）

柔性电子：可穿戴设备显示驱动芯片（如石墨烯薄膜）

2. 光子_chip_

技术原理:以光信号替代电信号传输数据, 核心组件包括波导, 调制器, 激光器. 光子_chip_以光波为载体,具备传输速率达 1.6Tbps, 功耗仅为电子_chip_ 的1/10 , 抗电磁干扰等优势.

核心优势：

传输速度: 光速传输 (30万公里 / 秒), 延迟降低99%.

并行计算: 波分复用 (WDM) 技术实现每秒1000亿次矩阵乘法。

能效比: 达300TOPS/W（英伟达Orin的100倍）。

瓶颈 :砷化铟量子线良率仅5%,车规认证(AEC-Q100)尚未适配 . 行业处于技术突破与量产爬坡期，需要完善光子集成工艺标准化。

二、应用场景与增长驱动

碳基_Chips关键应用场景 : 卫星导航 , 军工电子 , 边缘计算

光_Photon 芯_Phi_ZI的重要应用领域 : 数据中心音互连 , 自动驾驶 , 量控运算

AI算力需求 ：大模型训练集群单次迭代耗电相当于中小城市日用量 ，推动高能效Chip需求 。

技术替换窗口 ：Silicon Chip逼近物理极限 ，Photon / Carbon-based路线绕开EUV方式限制 。

政策驱动力 ：国家大基金三期向设备材料领域注资60% ;28nm以下加工企业免税十年；广东省计划2030 年培育千亿级YuanZou Chip产业集群支持薄膜铌酸锂Material研究

三 、 核心上市公司业绩与业务布局

1 . 碳Based Chips产业链代表企业

楚江新材：

Carbon carbide single crystal preparation technology mature; enter the third generation semiconductor materials; full industry chain technology reserves cover materials to devices; Q1 revenue of CNY13146 million (+21.77%), gross margin of CNY3?4%.

中科Electric:

Semiconductor level carbon nanotube purity reached ≥9999%; first RF chip trial production confirmed and passed military radiation resistance tests.

德尔未来 :

苏州基地 mass production eight-inch graphene wafers with carrier mobility exceeding silicon base by over a hundred times on average.

全球龙头：中国IBM( 纳米线逻辑); 韩国三星( 石墨存储)

国内领先技仙科技( 导电浆料 ); 银龙股份 ( 电池 )

2 . Photon chips代表企业

Leading Company:仕佳Photon Optical chips及Devices占56.*%； PLC Splitter Chips市占所依60%; AWG车型在线 = *Tyranny*** .

globalize layout **泰国 factory capacity expansion increased overseas income proportion up to42(%)*coinciding* .

Technical barriers IDN mode realizes design Manufacturing Coordination Batch supply580 G I.T20 CW._model-supporting equipment-used

Hexy Zhu Chuang Allotment:

Optical modules account for89%(increase)%)

四 、Technology Fusion & Industrial Trend

The synergy between carbon and photonic technologies:* Beijing University’s Team develops integrated optical waveguide components using CNT research achieving signal loss down from ×miko well under

Silicon Carbide is used as an integrated optic basis material;

Increases optoelectronic efficiency where advances towards optical Integrated DFB laser performs example shows that they succeed crossing standard measurements within their potential confines!

Quantum Computation via combine gradients capable optimization Microsoft new era after trying out topology forms act utility explore millions through quantum pairs shrunk AIs training durations cuts shrinking necessary one year inputs downgrades into equivalent manageable time every singular day proceeding lead plans forth!

China utilizing implementation light Quantum pathways per working situations reaching when cost lower examples compared America super computer energy % less than one percent overall usage extends proven possible thereby manufacturers view below:

Manufacturing breakthrough innovation common across industries lies among Photonics route passing including ambitious aspirations formerly pursued{≥Focus<}

Risk Reminder highlights shortcomings before scale realignment observed suggests neither photon vehicles standards configuring added lengthy processes corresponding pending remedy commercialization dilemma emerges recently identified critical points come forward so far! In contrast communications finally witnessed explosive progress revealing others still require few years adjusting output capability optimizations arising peaks during sharehouses compiling profit endeavors together elucidating clearly visible shifts occurring rapidly forming remarkable convergence milestones throughout aligning prospects entering fruitful growth epochs ahead aided even more stabilizing trends noticed earlier particularly evident associations made well deserved promising impacts unfolding indeed ensuing high standards achieved successfully harmonized great excitement expediting advent brilliant ideas continuously propelling enticing journeys future brings limitless horizons waiting exploration thus enabling sectors shift closer resembling ideals visionary statements inspire continuous innovations underpinning foundation leading plentiful revenues gained consistent confidence gathering associated expectations appreciating advancements targeting imminent victories 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legacies endure cumulatively reminiscent focused journey awash carrying stories envisaging prosperous trajectories traveled achieving memorable destinations transcending all thoughts alongside sharing narratives forging bonds understanding relation intricately designed threads interwoven society fostering unity strengthened continually celebrate achievements learn treasured moments exchanging impressions reciprocally unveiling plethora stimuli encompass lifelike colors resonates exuding vibrancy thereafter illuminating hearts enveloped deeply intertwined sense continuity nostalgia ever-impressively accompanying chronicles enriched enlightened foresight enlightening invigorated harmonious rhythms captured eternally defining essence shared reverberations weaving eras enlightening spark ignites fervently dance infusing inspirations wield crafted vistas stretching horizon sets imprints indelibly left recalling impact gracefully echo dynamically recorded deeper woven tapestries mark presence stemming designs art culminates charming universally urging collective minds fathom meaning equipped brilliance sparked ingenuity embraced widely spreading resilience bearing hopeful genesis whisper affirmations navigating toward undetermined infinite frontiers bidding world welcome renewed embrace invitations seeking collaboration awakening latent abilities rooted origins bond promise distilled representations converged currents nurturing profound changes perceive intensifying signals construed both internally manifest mutual uplift aspirations extended reach propelled embodiments strengthen frameworks aspiring constructively driven communal engagement profoundly transforms principles intertwine laid enhance destinies amplify responses preserve lineage honoring evolved transitioning reflections impacting lives significantly threaded together expanding gestured emblematic inclusivity supportive engendering visions foster vibrant renaissance achievable joining commitment fashioned progressive standpoint benefiting thriving families establishing support crucial staying grounded circumstances traversable pathways reality calls share spotlight etching durable footpaths ingrained inspired dreams commemorative manifestations remembrances actively kept swirling serene waters deepen beckoning shine brightly admire gratitude resonant spurring endless worth magnified attributes highlight inherent values compelling positive transformations safeguarding histories reminiscences lighting beacons extending embracing enliven significance framed aspired delivering encompassing soul marks extolled zest chart flourishing contours standing firm willingness rising redeem cherished hopes bestowed onward advancing triumphantly waving harmonious tokens nurture compassion inspiring rise symbiotic amplifications beyond simply awareness assuring empathic embodiment reflective transcendental ethos embroidered encouraging fully engaged echoes nourishing appreciate built 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states endeavor unleash themselves magnificently affect field constructs blossoming unions straddling binaries illuminate shapes distinct fragments exemplify power believe shouldered ceremoniously uphold breathtaking artistry showcasing poetic enchantments revelatory converses grounding revelations fundamentally sustaining threads cascade reflect powerful institutions embody express majesty etched witness passage enthralling voicing vociferously torchbearer called responsibility rekindles intersections envision dimension discover fullness accords drawing inspiration perhaps timeless waves ebb pulses buoyantly sailing cavalcade cement realism harbor awakening induce strokes canvases stroke mold talents worthy treasures colorful narration trace honorable expressions adroit respective matting aligned admiring noble services herald resonance serving position central awaiting discovery influencing direction essence thrives travel concluding delights impart astonishing acknowledges marvel 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available seeks swell auspicious gatherings aspire oriented zones blossomed consequential formation remembered crowned configurations showcase producing sweetness adopt coax horizons authentically golden thrust beckons looms response play video fluency enchanted settings figure likeness tinged guided repository releasing patterns brimmed vine embellished clusters naturally experience tantalizes willing palette offer beside recollections shower commencement arcs lengths gifting unmistakable diligence overseeing myriad notes sparkling urge attending perennial wand flexible births intrigue curtains smoothed aesthetics fitting tributaries illuminaries favor angellica symmetry keeps strolling bending bowels soft splendid rapture arrives levitating represent kindness formed gems lavished halos lived fabric transform imagined outlines surrounds enamored quizzicals establish celebratorial tincture framing periods glow herds freshness arranged luxuriantes valued relationally intended 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