Xin Lang Cai Jing·2025-09-11 09:08Core Viewpoint - The report from Guosen Securities indicates that the AI infrastructure sector is undergoing a reconstruction, with clients re-evaluating their choices of cloud/AI platforms as cloud providers intensify their investments in AI/Agent platforms to capture new markets [1] Group 1: Cloud Providers - Microsoft focuses on B-end infrastructure, being the most comprehensive platform in terms of model support, with strong integration of tools and ecosystem, leading to significant growth in cloud revenue [1] - Google leverages AI Studio to cater to both B and C-end scenarios, showcasing strong multi-modal capabilities, but has a less mature ecosystem and lower market share [1] - Amazon, through AWS, primarily serves small and medium enterprises, emphasizing computing power sales and ease of deployment, although its toolchain is somewhat fragmented [1] Group 2: Domestic Players - ByteDance covers all scenarios with a leading number of developers and intelligent agents [1] - Alibaba focuses on B-end services across various industries, serving over 300,000 enterprise clients, with a rich MCP toolchain and open-source ecosystem [1] - Tencent is also mentioned as a key player in the AI cloud platform space [1] Group 3: Recommendations - The report recommends AI cloud platform vendors including Microsoft, Google, Amazon, Alibaba, and Tencent, along with AI chip manufacturers like Nvidia and AI data infrastructure service providers [1]