智通财经网·2026-01-20 00:45Group 1: Core Insights - The development of computing power is expected to have high certainty by 2026, with continuous upgrades in supernode technology and sustained high capital expenditure (Capex) from major cloud service providers (CSPs), indicating investment opportunities in computing chips and system-level manufacturers [1][2] - The AI application sector is reaching a turning point, with significant improvements in model capabilities and new opportunities for overseas expansion, leading to accelerated order and revenue growth for AI application companies [1][3] Group 2: Computing Power Trends - The transition to supernode technology is enhancing cluster performance, with leading overseas server companies validating excess market share and profits through supernode system capabilities [2] - Domestic computing power is rapidly improving its competitiveness, supporting local models, and shifting competition from single-card performance to system-level capabilities by 2026 [2] Group 3: AI Applications - Next-generation large models (e.g., Gemini 3.0/GPT-5) are expected to benefit complex reasoning and multimodal scenarios, facilitating the large-scale implementation of AI [3] - The domestic AI application landscape is evolving, with independent model providers emerging due to strong R&D capabilities, and applications are expanding beyond traditional areas like chatbots and customer service to include multimodal and embodied intelligence scenarios [3] Group 4: Domestic Demand Support - Continuous policy support for technology in sectors like satellites, healthcare, and consumption is anticipated to strengthen in 2026, driving demand for satellite technology and medical AI [4] - Structural recovery in domestic demand is expected to be a key focus for the computing sector in 2026, with policies promoting consumption and regulating fiscal systems [4]