Macquarie kept an OUTPERFORM rating and HK$1,060 price target on Tianshu Zhixin (09903.HK), citing the company's entry into Chinese cloud service provider customers and rising contribution from its next‑generation general‑purpose GPU chips. After July's launch of the TianGai‑300 training GP GPU, Macquarie says mass production could begin as early as Q4; stronger compute, die‑to‑die interconnects and higher ASPs should drive material contribution next year. Management targets a new generation ult

Macquarie kept an OUTPERFORM rating and HK$1,060 price target on Tianshu Zhixin (09903.HK), citing the company's entry into Chinese cloud service provider customers and rising contribution from its next‑generation general‑purpose GPU chips. After July's launch of the TianGai‑300 training GP GPU, Macquarie says mass production could begin as early as Q4; stronger compute, die‑to‑die interconnects and higher ASPs should drive material contribution next year. Management targets a new generation ultra‑node solution in Q4 with reportedly solid margins. The bank said it is confident in the firm's medium‑term outlook with CSP and large‑language‑model customers.