鹏扬基金张勋：AI领域投资仍处于上半场，继续把握AI基础设施景气机会，关注AI应用进展

Core Viewpoint - AI investment is still in its early stages, with different development paces observed between domestic and international markets [1] Investment Stages - AI investment is categorized into three stages: "0-1 stage," "1-10 stage," and "10-N stage" [1] - Currently, international markets are in the "1-10 stage," focusing on infrastructure development, while domestic markets have just completed the "0-1 stage" [1] - The latter half of AI investment, which is expected to be more promising, has yet to begin [1] Investment Directions - In the AI infrastructure sector, key areas of focus include computing power, storage, and AIDC (Artificial Intelligence Data Center) [1] - The AI application sector is just starting to develop, with potential investment opportunities in AI edge computing, embodied intelligence, AI programming, and AI search advancements [1]