计算机行业周报：AI：国内外大模型应用正加速兑现

Investment Rating - The report maintains a "Recommended" investment rating for the computer industry, particularly focusing on AI applications and the domestic innovation industry chain [1]. Core Insights - The report emphasizes the acceleration of AI application realization both domestically and internationally, highlighting significant growth in leading AI companies' performance [3][4]. - It suggests focusing on core sectors and significant changes, recommending a contraction of investment lines to areas with strong fundamental improvements [3]. - The report continues to recommend the domestic innovation industry chain, which is expected to benefit from local government debt relief and ongoing market opportunities [3][4]. Summary by Sections Industry Weekly Perspective - The report highlights the overall increase in sector valuations, with a narrowing upward slope and increased volatility, indicating a need to focus on sectors with strong fundamentals [3][16]. - It suggests that the domestic innovation sector is a key area for medium to long-term investment, with increasing business opportunities and demand from government projects [3][16]. AI: Acceleration of Domestic and International Large Model Applications - The report notes that AI applications are experiencing rapid growth, with significant revenue increases reported by companies like NVIDIA, which achieved $35.082 billion in revenue for Q3 2024, a 93.61% year-on-year increase [20]. - It highlights the impressive performance of domestic AI applications, with a 87.2% year-on-year increase in global AI application traffic [21]. - The report indicates that the number of large model projects in China reached a record high in October 2024, with application projects accounting for over 50% of the total [25]. Investment Recommendations and Target Companies - The report recommends focusing on AI applications in various sectors, including office, education, finance, healthcare, and marketing [27]. - Suggested companies for investment include domestic software firms like China Software, Kingsoft Office, and AI application leaders like iFlytek and Newland [18][27]. Market Review - The report notes that from November 17 to November 23, the computer index fell by 3.10%, underperforming compared to other indices [29]. - It provides a detailed performance review of various companies within the sector, highlighting significant fluctuations in stock performance [30]. Major News - The report covers significant developments in AI, including the launch of new AI models and government initiatives to support the growth of the AI sector [33][34]. - It also discusses advancements in industrial internet applications and cloud computing technologies, emphasizing their importance in the current market landscape [46][47].