Zheng Quan Shi Bao Wang·2025-09-25 03:21Group 1 - AI application concept surged on the 25th, with companies like Pinming Technology and Yiwang Yichuang hitting a 20% limit up, and Kunlun Wanwei rising over 10% [1] - Alibaba launched Qwen3-Max, its largest and most capable model to date, which currently ranks third on the LMArena text leaderboard, surpassing GPT-5-Chat [1] - Alibaba Cloud's CEO stated that large models are the next generation operating systems, and AI Cloud represents the next computing paradigm, with plans for a significant investment of 380 billion yuan in AI infrastructure [1] Group 2 - Major companies like Google, Microsoft, Meta, and Amazon are expected to invest over $350 billion in AI infrastructure this year, with projections exceeding $400 billion by 2026 [2] - The AI industry remains robust, with domestic advancements in DeepSeek and multi-modal technologies, highlighting the importance of domestic servers, switches, and liquid cooling systems [2]