Zheng Quan Shi Bao Wang·2025-08-22 00:41Core Viewpoint - The domestic computing power sector is experiencing significant catalysts, with advancements in domestic inference chips and support from leading open-source models expected to accelerate the domestic computing ecosystem [1] Group 1: Domestic Computing Power Sector - CITIC Securities research indicates that the domestic computing power sector is poised for rapid development due to multiple catalysts [1] - Tencent's earnings report highlights that the supply channels for inference chips have various options, suggesting that domestic inference computing chips can provide support amid international supply chain fluctuations [1] - The release of DeepSeek V3.1, which supports FP8 precision and the upcoming next-generation domestic chips, is expected to enhance the domestic computing ecosystem [1] Group 2: Competitive Landscape - Huawei's Ascend chips are increasingly participating in tenders for government, finance, and telecommunications sectors, demonstrating the growing competitiveness of domestic chips [1]