On the evening of March 2, in the online live broadcast activity of "China Construction Bank · China Securities News Jinniu Fund Tour of Fund Service Wanlixing", Zheng Xiaoxi, manager of the Southern Information Innovation Fund, and Wang Fang, deputy director of the Zhongtai Securities Research Institute and chief analyst of the electronics industry, held a wonderful dialogue around "laying out the inflection point of the semiconductor cycle and grasping the new opportunities of industrial recovery". Zheng Xiaoxi and Wang Fang believe that the semiconductor sector is still at the bottom of the cycle, and is expected to usher in an upward turning point this year under the influence of multiple factors such as active de-stocking and economic recovery. Since this year, ChatGPT will also become a new driving force for the development of the semiconductor industry. The demand for ChatGPT applications has increased. Recently, ChatGPT has quickly become a hot topic of discussion, and the concept stocks related to ChatGPT have seen a large increase. Zheng Xiaoxi said that ChatGPT is mainly a natural language processing technology. It is a GPT model trained for dialogue scenes, which can generate text in dialogue scenes. It can be applied to automatic question answering, dialogue robot, text generation and other fields, and the process work can all be completed by AI. According to Zheng Xiaoxi and Wang Fang, the increasing demand for ChatGPT applications will undoubtedly bring greater growth momentum to the development of the semiconductor industry. Zheng Xiaoxi believes that the growth of ChatGPT application demand will greatly boost the development of servers, high-density DRAM (dynamic random access memory) and robots. Taking servers as an example, the increase in the number of users logged in to ChatGPT and the entry of more and more companies require better performance servers to match. This will not only increase the demand for servers, but also may lead to new competition and create new growth momentum; At DRAM level, because ChatGPT focuses more on inferential reasoning than deep learning or machine learning, there will be a demand for high-density DRAM, which will have a positive impact on the development of DRAM-related semiconductor industry; In addition, with the increasing popularity and maturity of ChatGPT, there will be more scenarios for people and robots to communicate based on ChatGPT, and the demand for robots may also increase. Wang Fang believes that the development of ChatGPT has a huge demand for AI chips represented by GPU. Computational power is the key to the operation of ChatGPT. At present, at least 10000 Nvidia GPUs are imported into ChatGPT's training model. The reasoning part uses Microsoft's Azure cloud service and also needs GPU to operate, which will stimulate the demand for GPU. In this process of demand growth, chiplet may become one of the breaking directions for domestic semiconductor chip enterprises. Zheng Xiaoxi, a good investment opportunity in the semiconductor sector, believes that a new round of scientific and technological innovation cycle has started, and new demands such as 5G base stations and mobile phones, TWS/AR glasses, cloud computing, cloud games, online office, telemedicine, industrial Internet, automotive intelligence, and the Internet of Vehicles have begun to erupt. She is optimistic about the investment opportunities in the semiconductor sector from the end of this year to next year. Specifically, Zheng Xiaoxi said that the semiconductor manufacturing industry chain with mature manufacturing processes in China