原文：

原文：
$INTC and $AMD to sign CPU LTAs with Chinese customers for AI DCs (Reuters).

- Prices of some CPU products have risen more than 40% in China since the start of the year from sources.

- Month-on-month increases topping 10% for some products

CPUs were already a bottleneck, following CPU ratios due to AI inference...

But the broader trend of LTAs seems to be appearing from:

- Memory, with $MU, Samsung, $SNDK, and SK Hynix signing DRAM/NAND LTAs.

- Photonics, with $LITE, $COHR signing EML LTAs. And recent Trendforce reports that $AMD and hyperscalers are now pursuing CW LTAs.

And I'm sure there's many more from MLCCs to all the way to substrates.

+1 for the bottleneck investors... hard to be a "bubble that pops" if you have take or pay demand spanning multiple years.

翻译：
英特尔（$INTC）和AMD即将与中国客户签署AI数据中心CPU长期协议（LTA）（路透社）。

- 自年初以来，中国一些CPU产品的价格已上涨超过40%（来源）。

- 部分产品的月度增长率超过10%

由于AI推理，CPU已经成为瓶颈，CPU比例也因此受到影响...

但LTAs的更广泛趋势似乎正在出现：

- 内存领域，$MU、Samsung、$SNDK和SK Hynix签署了DRAM/NAND LTAs。

- 光子学领域，$LITE、$COHR签署了EML LTAs。最近Trendforce报告称，$AMD和超大规模企业正在追求CW LTAs。

从MLCCs到基板，肯定还有很多其他领域。

对于瓶颈投资者来说，这是一个好消息... 如果你有多年跨度的“拿货或付款”需求，很难成为“即将破裂的泡沫”。