21评论｜国产算力需要耐心资本和长期生态构建

Core Insights - The recent surge in the stock price of Cambricon, known as the "first domestic AI chip stock," is linked to significant changes in the domestic computing power sector, with its market value exceeding 600 billion yuan, surpassing Kweichow Moutai as the new "king of stocks" [1] - The value of domestic computing power is being re-evaluated as a result of new policies and industry trends, particularly in the context of the "Artificial Intelligence +" initiative, which emphasizes the strategic importance of self-controlled domestic computing power [1][2] - The role of computing power is shifting from being merely a resource for the digital economy to becoming a core engine driving the intelligent transformation of society, especially with the rise of generative AI technologies [1][2] Industry Dynamics - The demand for computing power is experiencing exponential growth due to the training and inference requirements of large models, necessitating specialized AI chips like GPUs, as traditional CPUs are inadequate [2] - The transition from "using as much as needed" to "having as much as required" for computing power reflects its strategic scarcity, which is a fundamental reason for the market's re-evaluation of domestic computing power [2] - Domestic companies such as Cambricon, Huawei Ascend, and Haiguang Information are making significant progress in AI chips, servers, and data centers, gradually forming a local industry chain that meets application needs in various sectors [2][3] Challenges and Opportunities - Despite advancements, domestic high-end AI chips still lag behind international counterparts in absolute performance, and critical upstream components like EDA software and advanced manufacturing processes remain challenges [3] - The gap in the ecosystem, particularly in software development, poses a significant hurdle for domestic chip manufacturers, who are striving to build their own ecosystems to compete with established players like NVIDIA [3] - The current international environment highlights the importance of supply chain security and data sovereignty, making the use of self-controlled computing infrastructure a strategic necessity, thus providing a valuable market opportunity for domestic computing power [3] Strategic Considerations - The industry must focus on core technology research, software ecosystem development, and in-depth exploration of application scenarios to avoid resource wastage from low-level repetitive construction [4] - The capital market is encouraged to adopt a patient and visionary approach, identifying and supporting companies with genuine core competitiveness rather than chasing short-term gains [4][5] - The re-evaluation of domestic computing power is timely, but sustainable development in the industry requires a steady and long-term approach rather than a fleeting surge in stock prices [5]