计算机：特种云行业投资机会

Investment Rating - The report maintains an "Accumulate" rating for the computer industry [3]. Core Insights - The U.S. military is accelerating its cloud construction, leading to the emergence of high-quality SaaS companies like Palantir, which reached a market value of over $150 billion in November 2024 [10][18]. - China's military cloud construction is expected to accelerate, driven by the integration of advanced technologies such as big data, IoT, and cloud computing [41]. Summary by Sections U.S. Military Cloud Development - The U.S. military's cloud project development can be divided into three phases: Military Cloud, General Cloud, and Multi-Cloud Plan, with significant investments aimed at enhancing operational capabilities [10][15][18]. - The Military Cloud phase began in 2012, focusing on creating a secure enterprise cloud environment [15]. - The General Cloud phase supports the Joint All-Domain Command and Control (JADC2) concept, aiming for cross-domain collaboration [15]. - The Multi-Cloud Plan, initiated in 2019, emphasizes a flexible cloud infrastructure to meet evolving military needs [15]. Palantir's Market Position - Palantir, founded in 2003, specializes in data integration and analysis, with its market value surpassing $150 billion in November 2024 [18]. - The company offers products like Foundry and Gotham, with recent growth driven by its AI Platform [18][26]. - Palantir's AI Platform (AIP) enables the creation and management of AI applications, enhancing operational efficiency across various sectors [26]. Domestic Military Cloud Construction - China's military cloud construction is anticipated to accelerate, as highlighted in a recent publication by the People's Liberation Army [41]. - Investment opportunities in specialized industry clouds and computing power-related companies are recommended, including firms like Pinggao Group and Cambricon [41].