TMT行业周报（12月第3周）：国内AI应用端爆发有望拉动国产算力需求

Investment Rating - The report suggests a positive outlook for the TMT sector, particularly in AI applications, indicating potential growth in domestic computing power demand driven by AI applications [2]. Core Insights - The TMT sector experienced varied performance, with notable gains in digital chip design (9.12%) and communication network equipment (7.02%), while the computer sector saw a slight decline of -0.05% [2]. - ByteDance's Volcano Engine exceeded expectations with its "Doubao" model, showing a significant increase in daily token usage from 120 billion in May to over 4 trillion in December, indicating a 33-fold increase in computing power demand [3]. - The report emphasizes the importance of focusing on domestic computing power and AI smart terminal opportunities, suggesting that the explosion of AI application demand will drive growth in domestic computing power [3]. Market Weekly Review - The TMT sector's weekly performance showed communication up by 4.27%, electronics by 3.55%, while media declined by -4.25% [2]. - The top-performing sub-industries included digital chip design and communication network equipment, while media-related sectors faced significant declines [2]. Industry Events and Company Announcements - Significant events included the launch of Google's Gemini 2.0 model and the introduction of various AI models by ByteDance and Kuaishou, showcasing advancements in AI capabilities [32][34]. - The report highlights the increasing integration of AI in various sectors, including the announcement of new AI models and applications by major companies [40][41]. Recommendations - The report recommends focusing on domestic computing power segments such as servers, computing chips, and communication networks, which are expected to benefit from the growth in AI applications [3]. - It also suggests that the demand for AI applications will expand beyond traditional devices like smartphones and PCs to include a wider range of smart devices [3].