2025年中国大模型一体机行业研究 DeepSeek大模型一体机 如何破局行业发展 企业标签：华为、新华三、讯飞星火 中国产业创新发展 China Large Model All-in-One Machine Industry 中国大規模モデル一体型マシン産業 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另 行标明出处者除外）。 ，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改 编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究院保留采取法律措施、追究相关人员责任的权利。头豹 研究院开展的所有商业活动均使用"头豹研究院"或"头豹"的商号、商标，头豹研究院无任何前述名称之外的其他分支机构 ，也未授权或聘用其他任何第三方代表头豹研究院开展商业活动。 头豹研究院 1 行业研读 | 2025/5 ◼ 研究背景 随着人工智能技术的快速发展，大模 型（如GPT、BERT等）在自然语言处理、 图像识别、智能推荐等领域展现出强 大的能力。然而，大模型的训练和部 署对计算资源、数据安全和系统运维 提出了极高的要求。为了解决这些问 题，大模型一体机作为一种 ...

7月12日，以"共筑绿色算力大生态 共创人工智能新未来"为主题的2025绿色算力（人工智能）大会 在呼和浩特举行，旨在服务好国家"东数西算"战略，合力打造全国绿色算力保障基地，着力构筑人工智 能产业创新生态，加快发展新质生产力。主论坛后，九场专题会议相继举办。其中，紫光股份旗下新华 三集团主办"算力×联接：筑基北疆绿色算网 智拓AI云谷未来"专题会议，探讨AI技术、智算中心打造、 算力调度等技术与实践，展望智算产业与人工智能产业发展趋势。会上，新华三与多家伙伴共同成立新 华三区域智算联盟，并联合多位合作伙伴成立新华三区域国产化联盟，旨在进一步整合智算产业优势资 源，助推区域科技创新。 化专业人才队伍培养等方面发力，助力呼和浩特现代化区域中心城市的建设，为'中国云谷'迈向'世界算 谷'提供坚实支撑。" 新华三集团高级副总裁、技术委员会副主席刘新民指出，随着AI大模型不断发展，从预训练向后 训练及推理阶段延伸，算力需求呈爆发式增长态势。海外纷纷打造超大规模算力集群，提供超大算力面 临诸多挑战，算网高效协同变得至关重要。需要实现万卡高速互联，确保并行算法的多样性与有效性， 同时要可靠自动运维、加强安全防护等，还需不 ...

从中证沪港深云计算产业指数持仓的市场板块来看，深圳证券交易所占比52.47%、香港证券交易所占 比25.33%、上海证券交易所占比21.90%、北京证券交易所占比0.30%。 从中证沪港深云计算产业指数持仓样本的行业来看，信息技术占比48.81%、通信服务占比41.54%、可 选消费占比8.68%、工业占比0.97%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。当港股通范围发 生变动导致样本不再满足互联互通资格时，指数将相应调整。 金融界7月15日消息，A股三大指数收盘涨跌不一，中证沪港深云计算产业指数 (SHS云计算，931470)上 涨6.85%，报2572.54点，成交额1276.5亿元。 数据统计显示，中证沪港深云计算产业指数近一个月上涨6.81%，近三个月上涨12.07%，年至今上涨 16.0 ...

7月11日，新紫光集团有限公司（以下简称"新紫光集团"）官方微信公众号发文称，公司连续三年营收 超千亿元，累计专利申请量增加25%达3万余项，两度问鼎国家科学技术进步奖，带领旗下数十家企业 发布十余款重大创新产品。 有业内人士对《证券日报》记者表示，新紫光集团三年来取得了显著的发展成果，未来有望继续以战略 聚焦、技术突破与生态协同作为支撑，持续拓展国内外市场。 "战略布局+技术攻坚"显成效 2022年7月11日，原紫光集团宣布完成战略重整，并在后续更名为"新紫光集团"。新紫光集团董事长曾 在演讲中称，新紫光集团"新"在新架构、新模式及新技术。 人工智能方面，集团旗下公司通过了存算一体等架构创新；端侧AI（人工智能）则通过平台化解决方 案、轻量级模型优化、边缘计算与云端协同等技术，可提升能效比和实时响应能力。在智算领域、云与 AI融合等领域，新紫光集团相关产品及服务也相继落地。 在移动通信领域，新紫光集团积极推动5G新通话、低轨道卫星通信、天地一体化等一系列领军技术的 落地，更面向6G率先布局。低空经济领域，新紫光集团推出了无人值守型无人机定制化方案，提供"机 库+无人机+自主飞控平台"软硬件全栈方案，相关解决 ...

Group 1: Artificial Intelligence ETF Performance - The liquidity of the Artificial Intelligence ETF showed a turnover of 1.76% during the trading session, with a half-day transaction volume of 60.298 million yuan. The average daily transaction volume over the past month reached 132 million yuan as of July 11 [3] - The latest scale of the Artificial Intelligence ETF reached 3.408 billion yuan, with leveraged funds continuing to invest. The net financing amount on the previous trading day was 3.8182 million yuan, and the latest financing balance stood at 115 million yuan [3] - The net value of the Artificial Intelligence ETF increased by 33.88% over the past year. The highest monthly return since inception was 30.38%, with the longest consecutive monthly gains being three months and the maximum cumulative increase of 43.97%. The average return during the rising months was 6.80% [3] Group 2: Index Composition and Key Stocks - As of June 30, 2025, the top ten weighted stocks in the CSI Artificial Intelligence Industry Index accounted for 52.07% of the index. The leading stocks include Zhongji Xuchuang, Xinyi Sheng, Keda Xunfei, and others [4] - The weight and performance of key stocks in the index are as follows: Zhongke Shuguang (6.42%, -0.12%), Han's Laser (6.33%, +2.35%), and others, with varying performance metrics [6] Group 3: Industry Outlook - The overseas computing power industry is forming a positive feedback loop characterized by reduced costs of technological iteration, application promotion, explosive demand for inference, growth in tokens, and accelerated iteration of data growth models. The AI application sector is still in its early stages, and the optical module industry, as a foundational component for computing clusters, continues to exhibit high growth potential [7]

证券研究报告 2025年06月25日 AI算力系列之交换机：算力网络稳定"核心"， 助力AI高效发展 更多一手海外资讯和海外投行报告加V：shuinu9870 更多一手海外资讯和海外投行报告加V：shuinu9870 更多一手海外资讯和海外投行报告加V：shuinu9870 更多一手海外资讯和海外投行报告加V：shuinu9870 更多一手海外资讯和海外投行报告加V：shuinu9870 更多一手海外资讯和海外投行报告加V：shuinu9870 作者： 1 行业评级： 上次评级： 强于大市 强于大市 维持 （ 评级） 行业报告| 行业深度研究 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 摘要 分析师 王奕红 SAC执业证书编号：S1110517090004 分析师 张建宇 SAC执业证书编号：S1110525040002 分析师 唐海清 SAC执业证书编号：S1110517030002 分析师 康志毅 SAC执业证书编号：S1110522120002 请务必阅读正文之后的信息披露和免责申明 交换机是实现网络互联的关键设备，数据中心建设推动交换机需求增长。以太网交换机是用于网络信息交换的网络设备， ...

行 业 研 通信 2025 年 07 月 13 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -29% -14% 0% 14% 29% 43% 58% 2024-07 2024-11 2025-03 通信 沪深300 相关研究报告 《AI 驱动光铜共进，AEC 等受益于 高速短距连接需求—行业深度报告》 -2025.7.8 《万国和润泽 REIT 均获超百倍认 购，世纪互联上调业绩指引，AIDC 产业链发展或提速 —行业周报》- 2025.7.6 《 世 纪 互 联 上 调 业 绩 指 引 ， 看 好 AIDC 产业链投资机会—行业点评报 告》-2025.6.30 算力公司业绩亮眼，Grok-4 发布，AWS 推出 GB200 UltraServers，看好全球 AIDC 产业链 ——行业周报 | 蒋颖（分析师） | 雷星宇（联系人） | 陈光毅（联系人） | | --- | --- | --- | | jiangying@kysec.cn | leixingyu@kysec.cn | chenguangyi@kysec.cn | | 证书编号：S0790523120003 | 证书编号：S0790 ...

Core Viewpoint - The integration of artificial intelligence (AI) in academic publishing presents both opportunities for efficiency and risks related to academic integrity and innovation [1][2][3] Group 1: AI's Role in Academic Publishing - AI technology, particularly generative AI, is significantly enhancing the efficiency of academic publishing, with over 90% of document processing tasks at CNKI being completed by machines [1] - The rapid development of AI models is deeply embedding itself in the writing and publishing of scientific journals, which raises concerns about potential risks, such as data leaks during the peer review process [1] Group 2: Challenges and Risks - Over-reliance on AI may challenge academic innovation, as it primarily depends on historical data and may introduce algorithmic biases, potentially harming research originality and raising issues of academic integrity [2] - There is currently no consensus in the industry regarding the boundaries of generative AI's application in academic publishing, highlighting the need for clear regulations [2] Group 3: Regulatory Measures and Tools - The implementation of specific rules for AI usage in academic publishing requires effective technical supervision, with CNKI actively exploring academic achievement detection and developing a generative AI detection tool for educational institutions [3] - Existing guidelines, such as the "Guidelines for the Use of AIGC in Academic Publishing 2.0," have been established, but further refinement is needed to clarify the scenarios and extent of AI usage [2]

Group 1 - The core viewpoint of the news highlights the performance and growth of the digital economy sector in China, particularly through the rise of the China Securities Digital Economy Theme Index and its associated ETF [1][2] - As of July 8, 2025, the China Securities Digital Economy Theme Index (931582) increased by 0.83%, with notable gains from constituent stocks such as Langchao Information (000977) up 3.76% and Lanke Technology (688008) up 3.11% [1] - The digital economy ETF (560800) saw a price increase of 0.53%, with a trading volume of 373.61 million yuan and a turnover rate of 0.5% [1] Group 2 - The digital economy ETF has experienced significant growth, with a scale increase of 31.27 million yuan over the past three months, ranking it in the top half among comparable funds [1][2] - The ETF's share count rose by 8 million shares in the past week, also placing it in the top half of comparable funds [1][2] - The Global Digital Economy Conference held in Beijing from July 2 to 5, 2025, focused on building globally friendly digital cities, showcasing the importance of digital economy initiatives [1] Group 3 - The top ten weighted stocks in the China Securities Digital Economy Theme Index as of June 30, 2025, include Dongfang Wealth (300059) and SMIC (688981), collectively accounting for 51.3% of the index [2] - The index is designed to reflect the overall performance of listed companies involved in digital economy infrastructure and high levels of digitalization [2]

Group 1: AI Industry Insights - The China Securities Artificial Intelligence Theme Index (930713) increased by 0.84%, with notable gains from companies such as Lexin Technology (688018) up 5.32% and Inspur Information (000977) up 2.51% [1] - Elon Musk announced the live release of Grok 4, while DeepMind's Isomorphic Labs is preparing to test AI-designed drugs on humans, indicating advancements in AI applications in drug development [1] - The top ten weighted stocks in the China Securities Artificial Intelligence Theme Index account for 52.8% of the index, with companies like Zhongji Xuchuang (300308) and Hikvision (002415) among the leaders [8] Group 2: Consumer Electronics Sector - The China Securities Consumer Electronics Theme Index (931494) rose by 1.28%, with significant increases from companies like Jingwang Electronics (603228) up 7.42% and Industrial Fulian (601138) up 7.17% [4] - The Consumer Electronics ETF (561600) has seen a net value increase of 22.37% over the past year, reflecting strong performance in the sector [4] - The top ten weighted stocks in the China Securities Consumer Electronics Theme Index represent 51.02% of the index, featuring companies such as Luxshare Precision (002475) and SMIC (688981) [11] Group 3: Online Consumption Market - The China Securities Hong Kong-Shenzhen Online Consumption Theme Index (931481) increased by 0.90%, with stocks like NetEase Cloud Music (09899) rising by 4.58% [6] - The Online Consumption ETF (159793) has shown a remarkable net value increase of 44.37% over the past year, indicating robust growth in online consumption [6] - The top ten weighted stocks in the China Securities Hong Kong-Shenzhen Online Consumption Theme Index account for 52.54%, with major players including Tencent Holdings (00700) and Alibaba-W (09988) [14]