东海证券给予寒武纪“增持”评级：业绩同比维持高增长态势，研发投入持续加码

Group 1 - The core viewpoint of the article is that Donghai Securities has given a "Buy" rating to Cambrian (688256.SH) based on several positive factors [1] Group 2 - The cloud AI chip market is experiencing accelerated growth, benefiting from the explosion in computing power demand and the rapid increase in domestic penetration rates [1] - Inventory has significantly increased on a month-on-month basis, laying a solid foundation for future product deliveries [1] - Research and development expenses are continuously rising, which helps maintain technological leadership and enhances product market competitiveness [1]