刚刚！DeepSeek，传来大消息 DeepSeek又有大消息传来！ 据北京日报援引路透社报道，有消息称，美国商务部下属的一些部门近日通知其工作人员，禁止在 政府设备上使用中国的人工智能模型DeepSeek。今日，外交部发言人毛宁回应称，中方一贯反对泛 化"国家安全"概念，将经贸和科技问题政治化，我们也将坚定维护中国企业的合法权益。 不过，在港股市场上，DeepSeek概念股再度大涨。百度集团-SW涨超12%、阿里巴巴、万国数据、 金山云等皆有较大涨幅。消息方面，百度在近日正式发布文心大模型4.5和文心大模型X1。 另一方面，近日，多个家电企业也掀起AI技术竞赛，空调、冰箱、电视甚至扫地机器人等电器均 纷纷宣布接入DeepSeek。分析认为，这可能会加大市场对于算力的需求。 一则邮件 外围有两则针对DeepSeek的消息。据路透社3月17日报道，有消息称，美国商务部下属的一些部门 近日通过邮件通知其工作人员，禁止在政府设备上使用中国的人工智能模型深度求索（DeepSeek）。 报道称，邮件提到："请勿下载、查看、访问任何与DeepSeek相关的应用程序、桌面应用或网站。" 美国官员和国会议员此前对DeepSe ...

接入DeepSeek，体检行业变革的催化剂？｜AI医疗 浪潮? 日前，ARK Invest发布《Big Ideas 2025》指出，到2030年，人工智能（AI）将全方位重塑多组学工 具、药物研发以及分子诊断领域，大幅提升药物经济回报 ，比如药物开发成本降低4倍，研发投入的回 报提高5倍、筛查效率提高 20 倍……从长远来看，AI 的影响力将渗透到每一个医疗细分场景。 当下，随着DeepSeek成为AI大模型领域的新焦点，健康管理领域正见证着一场因DeepSeek而起 的"AI风暴"。今年3月4日，成都市第八人民医院基于DeepSeek大模型打造的老年AI健康管家上线；此 前，深圳市第三人民医院与腾讯健康达成深度合作，上线智能体检业务，借助腾讯混元大模型和 DeepSeek大模型，为市民健康管理带来全新体验…… 公立医院在健康管理领域的先行探索，为医疗 AI 市场注入了强大的信任支撑，也推动了市场教育 普及，其他医疗服务机构更是加速奔向DeepSeek。 今年2月，善诊宣布其自研的"善太医"AI系统接入DeepSeek，已在部分医院完成本地化部署；3月17 日，瑞慈医疗集团发布"科技瑞慈"战略，宣布旗下智慧医 ...

We recently held two popular group calls for investors on the outcome of China's Two Sessions meetings and what's next for the phenomenal AI rally. Investors had many questions so we've grouped them into four buckets and detailed our answers: What are the economic forces that can help China hit its 2% CPI target? Will China devalue its currency to counter tariffs? Could AI lead to job losses? Policy support will be the main driver to lift China out of deflation. China may use different strategies than last ...

DeepSeek有望助力全球南方国家跨越数字鸿沟"我认为DeepSeek有潜力帮助全球南方国家缩小数字鸿沟 并加速现代化。"日前在南非举行的数字化转型峰会上，南非人工智能企业Matogen首席执行官雅各布斯 ·艾蒂安说。 随着全球数字化进程加速，人工智能（AI）逐渐成为推动经济发展和社会进步的重要驱动力。作为中 国自主研发的开源大模型，DeepSeek凭借其低成本、高效能技术优势，为非洲等地的全球南方国家提 供了跨越鸿沟、加速现代化发展的新机遇。 中国大模型助力降低AI普及门槛 不过，许多全球南方国家普及AI仍面临不少挑战。中国现代国际关系研究院非洲研究所副所长孙红表 示，非洲想要跨越数字鸿沟，还需克服基础设施、资金、数据、人才、社会因素等系列挑战。例如，电 力供应不稳定、宽带覆盖不足会限制AI部署；风险投资缺乏、政府预算有限，难以支持研发；本地化 数据集不足，会导致现有AI模型适用性差；监管框架不完善，可能出现技术滥用或外资垄断。 AI为南南合作提供新动力 众多全球南方国家发展AI的迫切需求与举措也为南南合作注入更多动力。专家认为，中国在AI领域的 经验可帮助一些国家加速进入AI时代。 DeepSeek的成 ...

最新！啄木鸟公布整改进度：已核实确认8655个争议订单， 部分已完成退款、补偿！还要上线DeepSeek问价功能 3月17日，啄木鸟家庭维修发布整改进度公示：截至3月17日18:00，已完成审核并核实确认8655个争议订单，针对其中 的不合理收费，已完成退款、费用优化及补偿。已完成88个产品、6758个服务项价格整理。 3月27日前，完成"Deepseek AI 帮忙问价"功能开发，用户可通过AI预估维修价格，并获取小故障自检与DIY维修指 导，减少现场报价带来的不确定性。功能开发完成后，将在3个工作日内提交平台审核，审核通过后上线。 调整培训及考核机制，培训期延长至15-45天。 3月16日，@啄木鸟家庭维修就被曝光"培训套路收费""配件以次充好"等发布整改承诺书。承诺书显示，即日起，啄木 鸟将全面推进整改措施，接受全民监督。针对近期价格争议订单，平台将分阶段核查，首批处理平台维修保修期内投诉的 订单，平台将主动联系用户进行无条件全额退款。对于已过平台维修保修期订单，平台将设立专项核查机制，全面复核所 有符合标准的订单，并进行相应的费用调整或补偿。对于经核实存在欺诈收费、恶意误导用户的维修工程师，将列入平台 ...

Group 1 - The core viewpoint of the article is that Kuaishou's AI platform has integrated DeepSeek-R1 to enhance video and image generation capabilities, making it easier for users to create high-quality creative content [1] - DeepSeek assists users in generating or optimizing prompts, transforming ideas into professional prompts, thereby improving creative video production [1] - The integration of DeepSeek with Kuaishou's AI platform is expected to lower the barriers for AI-generated content and increase creative efficiency [1] Group 2 - Kuaishou's AI platform, known as Kuaishou Ke Ling AI, has been continuously upgraded since its launch last year [1] - The DeepSeek inspiration version can work in conjunction with the previous "inspiration word library" feature to enhance performance in video generation scenarios [1]

Core Insights - Baidu's new search intelligent assistant, Wen Xiaoyan, has fully integrated the latest two large models, 4.5 and X1, along with the full version of DeepSeek-R1, enabling automatic scheduling of multiple models [1] - Users can choose specific models or intelligent modes for faster responses and more accurate results [1] - Upcoming features include upgraded end-to-end voice dialogue, photo search, and AI-generated videos, which will be available to users for free [1]

Core Insights - The article highlights the integration of AI technology in employment services in Fuzhou, specifically through the AI assistant "Employment A Fu," which significantly enhances the efficiency of job placement and career guidance services [1][2][5]. Group 1: AI Integration in Employment Services - "Employment A Fu" is an AI-powered assistant developed by the Fuzhou Federation of Trade Unions, which can answer job-related queries in just 3 seconds, compared to the previous 10 minutes required by human staff [1][2]. - The AI assistant utilizes the DeepSeek 671B model to create a unique knowledge base that connects industry data with job opportunities, providing comprehensive employment services across multiple platforms [2][5]. - The service has improved efficiency by over two times, showcasing the impact of AI and big data on transforming traditional employment services into more precise and effective solutions [5]. Group 2: Comprehensive Employment Support - "Employment A Fu" offers real-time analysis of job market trends, skill requirements, and salary levels, allowing job seekers to receive tailored advice on resume optimization and skill enhancement [2][4]. - The AI assistant also assists students in understanding the alignment between their academic programs and industry needs, providing a roadmap for skill development [4]. - Fuzhou's employment services aim to create a full-cycle, one-stop service system that encompasses job recruitment, skill enhancement, and career development, continuously exploring new possibilities for AI-assisted employment support [6].

Summary of Key Points from the Conference Call Industry and Company Involved - **Industry**: Memory and AI technology - **Company**: DeepSeek Core Insights and Arguments 1. **Impact of DeepSeek on Memory Demand**: DeepSeek is transforming the AI landscape by enabling smaller, more efficient models that require less computational power, potentially reducing the demand for high-bandwidth memory (HBM) in non-cloud applications significantly [1][10] 2. **Shift Towards Cost-Effective Solutions**: The trend in China is towards more localized and cost-effective AI models, which do not rely on expensive HBM chips, suggesting a shift in demand towards standard DRAM chips [1][2] 3. **Market Dynamics Due to US Sanctions**: Potential new sanctions against China may further reduce the market for HBM, accelerating the shift towards cheaper traditional memory solutions [2][9] 4. **Predicted Market Reduction**: If the trend towards cheaper inference continues, the total addressable market (TAM) for HBM could decrease by 9% by 2027 [9] 5. **Valuation Outlook**: The valuation gap between standard memory stocks and high-end memory stocks is narrowing, with a more favorable outlook for standard memory due to increasing demand in China [4][14] Additional Important Insights 1. **Technological Advancements**: DeepSeek's advancements in AI technology are indicative of China's growing technological independence and capability [10] 2. **Memory Utilization Efficiency**: The use of older generation memory for AI inference suggests that the industry may not be as hardware-intensive as previously thought, leading to innovations in memory usage efficiency [12][14] 3. **Market Sensitivity Analysis**: A sensitivity analysis indicates that if enterprises replace server clusters with workstations for AI inference, the TAM for HBM could decrease by 8% by 2027, reaching $61 billion [23][26] 4. **Cost Comparison of AI Models**: The cost of training AI models varies significantly, with DeepSeek's models being much cheaper compared to competitors, highlighting the cost sensitivity of AI end-users [19][20] 5. **Future of HBM Market**: The HBM market is expected to face challenges due to increased supply and competition, leading to potential declines in revenue growth and sustainable profit margins [14][31] Conclusion The conference call highlighted significant shifts in the memory and AI sectors driven by DeepSeek's innovations and market dynamics, particularly in China. The implications for memory demand, pricing, and competitive positioning are critical for investors to consider in their strategies moving forward.

Summary of the Investor Presentation on Greater China Tech Semiconductor Industry Overview - The focus is on the Greater China Tech Semiconductor industry, particularly in the context of AI and its impact on semiconductor demand and supply dynamics [1][2][5]. Core Insights - **Cloud AI Demand**: The positive outlook on cloud AI demand remains unchanged, with US Cloud Service Providers (CSPs) maintaining expectations for similar AI capital expenditure intensity [1][2]. - **China AI Market**: There is a more constructive view on the AI market in China, with MediaTek rated as Overweight (OW) [1][2]. - **AI Semiconductor Demand**: The demand for AI semiconductors is expected to accelerate due to generative AI applications spreading across various sectors beyond the semiconductor industry [6]. - **DeepSeek Impact**: The introduction of DeepSeek may trigger an edge AI replacement cycle, as it demonstrates cheaper inferencing capabilities [6]. - **Inventory Trends**: A decline in semiconductor inventory days historically signals potential appreciation in semiconductor stock prices [6][11]. Key Companies and Ratings - **Top Picks**: - AI: Alchip, TSMC, MediaTek, ASE, KYEC, AllRing, FOCI, Montage, Silergy - Non-AI: Novatek (Smartphone), ASMedia (PC), Naura, AMEC, ACMR (China WFE), RichWave, WIN Semi (WiFi 7), Hua Hong, SG Micro, SICC, Nuvoton, Yangjie (Specialty) [6]. - **Underweight Ratings**: UMC, Will Semi, Aspeed, ASMPT, Nanya Tech, Vanguard, Macronix, Parade, Realtek [6]. Financial Metrics and Valuation - **TSMC**: Current price at 1,000 TWD with a target of 1,388 TWD, indicating a 39% upside. P/E ratios for 2023, 2024e, and 2025e are 30.9, 22.1, and 16.3 respectively [7]. - **MediaTek**: Current price at 1,505 TWD with a target of 1,688 TWD, indicating a 12% upside. P/E ratios for 2023, 2024e, and 2025e are 31.1, 22.5, and 18.1 respectively [8]. Market Dynamics - **Logic vs. Memory Cycle**: The logic semiconductor foundry utilization is at 70-80% in the first half of 2025, indicating it has not fully recovered. The increase in semiconductor supply chain inventory days was noted in Q4 2024 [10]. - **Non-AI Semiconductor Growth**: Excluding NVIDIA's AI GPU revenue, non-AI semiconductor growth is projected at only 10% year-over-year in 2024 [11]. - **Memory Stock Prices**: Memory stock prices are seen as leading indicators for logic semiconductors, with an In-Line industry view on Greater China semiconductors [13]. Long-term Demand Drivers - **Tech Diffusion**: The reacceleration of AI semiconductor demand is driven by the proliferation of generative AI across various verticals [6]. - **Tech Deflation**: Anticipated "price elasticity" is expected to stimulate demand for technology products [6]. Conclusion - The Greater China Tech Semiconductor industry is poised for growth, particularly in AI applications, with key players like MediaTek and TSMC leading the charge. The overall sentiment remains cautiously optimistic, with attention to inventory trends and market dynamics shaping future performance [1][6][11].