电子：火山引擎大会点燃AI行情

Investment Rating - The industry is rated as "Neutral" [23][33] Core Insights - The "Doubao" large model has seen explosive growth in usage, with daily token calls increasing from approximately 120 billion in May 2024 to over 4 trillion by December 15, marking a growth of over 33 times in just seven months [2] - The "Doubao" visual understanding model is expected to find widespread applications in education, tourism, and e-commerce, enhancing user experiences and operational efficiencies [3][34] - The global shipment of AI glasses is currently only 1% of that of smartphones, indicating significant growth potential in this segment [5] - The "Doubao" general model pro has improved its comprehensive task processing capability by 32% compared to May, with notable enhancements in various areas such as reasoning (13% increase) and code processing (58% increase) [20] Summary by Sections Industry Events - The "Doubao" model has partnered with 80% of mainstream automotive brands, covering approximately 300 million smart terminal devices, with a 100-fold increase in usage from these devices in just six months [2][5] - The "Doubao" visual understanding model can understand relationships between objects in images and perform complex logical calculations, expanding its application scope [12][14] Market Trends - The AI application market is expected to see a resurgence in hardware segments such as optics, displays, and audio modules, driven by the growth of AI edge products [5] - The "Doubao" model's pricing is significantly lower than the industry average, with a cost of 0.003 yuan per thousand tokens, allowing for the processing of 284 images at 720P for the same price [21]