计算机行业点评：特种云行业投资机会

Industry Investment Rating - The report maintains an Overweight rating for the computer industry, specifically focusing on the specialized cloud sector [3] Core Viewpoints - The US military has been actively accelerating its cloud infrastructure development, with cloud projects evolving through three distinct phases: Military Cloud, General Cloud, and Multi-Cloud Plan [1][10][15] - The US Department of Defense's cloud strategy aims to provide the latest cloud technologies to enhance real-time data processing capabilities, ensuring information and decision-making advantages on the battlefield [18] - The report highlights the rapid growth of Palantir, a leading SaaS provider, which reached a market capitalization of $150 billion by November 2024, driven by its AI platform and government contracts [1][18][21] - China's military cloud construction is expected to accelerate, with a focus on integrating advanced technologies like big data, IoT, and cloud computing into military operations [41] US Military Cloud Development - Military Cloud: Initiated in 2012, this phase focused on creating a Department of Defense enterprise cloud environment, combining military and commercial technologies to provide on-demand cloud services [15] - General Cloud: This phase supports the Joint All-Domain Command and Control (JADC2) strategy, aiming to unify infrastructure and enable cross-domain collaboration among military branches [15] - Multi-Cloud Plan: Launched in 2019, this phase emphasizes flexibility and security, replacing the JEDI project with the Joint Warfighter Cloud Capability (JWCC) to meet diverse operational needs [15] Palantir's Growth and Products - Palantir's market value surpassed $150 billion in 2024, driven by its AI platform and government contracts, including the US Department of Defense and CIA [1][18][21] - The company offers four main products: Gotham, Foundry, Apollo, and AIP, which are used for data integration, AI application deployment, and DevOps automation [26][31][33][37] - Palantir's Foundry platform integrates data and models into business workflows without disrupting existing systems, making it a preferred choice for enterprises like Airbus and BP [33] China's Military Cloud Development - China's military cloud construction is expected to accelerate, with a focus on integrating advanced technologies like big data, IoT, and cloud computing into military operations [41] - The report recommends focusing on investment opportunities in specialized cloud and computing power-related companies, such as Pingao, Nengke, and Cambricon [41] Investment Opportunities - Specialized Cloud: Companies like Pingao, Nengke, Zhenxin, Zhongke Star Map, and Aerospace Hongtu are recommended for investment [41] - Computing Power: Companies such as Cambricon, Sugon, Haiguang, Huamao, Yunsai, Digital China, Hongxin, and Inspur are highlighted for their potential in the computing power sector [41]