又一国产大模型登顶全球，“国内链”投资价值正逐步显现

Group 1 - The Kimi K2 model, released by Moonlight Dark Side, features enhanced coding capabilities and excels in general agent tasks with a total parameter count of 1 trillion and 32 billion active parameters, achieving SOTA results in various benchmark tests [1] - Perplexity's CEO announced plans to utilize the Kimi K2 model for post-training, following the successful use of the DeepSeek R1 model [1] - Western Securities noted that the updated version of the DeepSeek-R1 model demonstrates stronger deep thinking capabilities, performing well in mathematics, programming, and general logic assessments, indicating ongoing advancements in domestic AI large models [1] Group 2 - Companies in the AI sector, including Nvidia and Microsoft, have seen stock prices rebound to previous highs, reflecting strong recognition from overseas capital markets regarding AI technology's role in driving industrial transformation [2] - In contrast, domestic AI industry stocks, including those in foundational computing chips, algorithm service providers, and application solution companies, have not experienced similar rebounds, leading to a divergence in stock performance between overseas and domestic markets [2] - As domestic AI models continue to improve and the monetization of AI applications accelerates, the investment value of domestic AI chains is gradually becoming apparent [2] - The demand for AI hardware, including Nvidia GPUs and AWS's self-developed chips, is surging, indicating that AI demand has entered a phase of comprehensive explosion [2] - Companies like Zhongwen Online are actively engaging with Kimi by providing data corpus for model training and data annotation services [2]