Zhi Tong Cai Jing·2025-08-25 06:44Core Insights - DeepSeek-V3.1 utilizes UE8M0 FP8 Scale parameter precision, indicating a significant advancement in domestic chip technology, which is expected to lead to large-scale applications of domestic chips [1][2] - The continuous improvement in domestic AI chip design and manufacturing processes, along with the ongoing development of domestic large models, is likely to enhance the market share of domestic computing power [2][3] - The collaboration between Tesla and ByteDance's Volcano Engine for AI services in the new Model Y L demonstrates the growing recognition and application of domestic AI models [3] Domestic Chip Development - The new generation of domestic chips, including models like Muxi 690 and Cambricon 690, are beginning to support FP8 technology, which is crucial for AI applications [2] - The market for domestic chips is expected to grow as the technology and manufacturing processes improve, alongside the support for domestic large models [2][4] AI Application Growth - The recent release of DeepSeek V3.1 enhances capabilities in various applications, providing a broader scope for AI agents to tackle real-world tasks effectively [3] - The partnership between Tesla and Volcano Engine for AI services in vehicles signifies a shift towards practical applications of AI technology in consumer products [3] Market Opportunities - The demand for AI infrastructure is increasing, particularly for low-latency and high-bandwidth solutions, which is beneficial for companies like Astera Labs [4] - The trend towards the localization of switch chips in the AI chip market is expected to continue, providing further growth opportunities [4] Investment Recommendations - Suggested stocks in the AI computing chain include companies like Cambricon-U, Haiguang Information, and Inspur Information, which are positioned to benefit from the growth in domestic AI chip development [5] - In the AI application sector, companies such as Kingsoft Office and Dingjie Smart are recommended for their potential in the expanding AI application market [6] - For switch chips, companies like Shengke Communication and ZTE are highlighted as key players in the market [7]