电子行业算力周跟踪：国产算力格局重塑，Scaling Law再引发讨论

Investment Rating - The industry rating is "Outperform the Market" [6] Core Insights - The report highlights a significant rise in advanced packaging and active performance in the semiconductor sector, with notable increases in stock prices for companies like Cambricon (+9.98%) and Loongson Technology (+9.86%) [2] - The report discusses the challenges faced by domestic computing chip companies due to the supply chain disruptions from TSMC and Samsung, but suggests that a potential return to domestic foundries could reshape the competitive landscape favorably for leading firms [2] - The emergence of new technologies such as "Test-Time Computation" in AI models is expected to increase demand for inference chips, potentially altering the current dominance of NVIDIA in the AI hardware market [3] Summary by Sections Section: Investment Opportunities - Recommended companies include Cambricon, Haiguang Information, Loongson Technology, and Shengke Communication in the domestic computing chain [7] - For data center hardware, companies such as Zhongji Xuchuang, Industrial Fulian, and Xinwei are highlighted as strong performers [7] Section: Market Trends - The report notes a strong upward trend in advanced packaging companies, with Yongxi Electronics seeing a 33.47% increase and Huatian Technology at 3.26% [2] - The report also mentions the IPO initiation of domestic GPU unicorn Moore Threads, which is backed by a team with extensive experience from NVIDIA [4] Section: AI Model Tracking - ChatGPT's traffic has reached a new high, with over 870 million visits, indicating strong growth in AI applications [5] - The report emphasizes the increasing download rates for AI applications, particularly for the Zhiyu Qingyan app, which saw a fivefold increase in downloads [5]