紫阁投资王欢：中长期看好AI硬件与应用双轮驱动的投资机会

Core Viewpoint - The chairman of Zige Investment, Wang Huan, expresses a long-term optimistic outlook on investment opportunities driven by AI hardware and applications amid the ongoing Scaling Law trend [1] Group 1: Hardware Investment Opportunities - Focus on investing in computing power chips, advanced processes, and advanced packaging, particularly next-generation communication technologies represented by CPO (Co-Packaged Optics), which will support the iteration of large models and energy efficiency improvements [1] Group 2: Application Investment Opportunities - Emphasis on AI-native vertical software and embodied intelligence applications, such as advancements in humanoid robot algorithms and the large-scale operation of Robotaxi in specific urban areas, which will create investment opportunities across the entire chain from algorithms and sensors to cloud-edge collaboration [1] Group 3: AI's Impact on the Internet Era - AI is expected to reshape the application layer paradigm of the internet era, forming a new "system stack" and nurturing platform-level companies [1] - There is potential for AI and cryptocurrency to achieve commercial breakthroughs in areas such as data rights confirmation, model traceability, and machine payments [1]