计算机行业周报：半导体禁令围堵，AI终端发展步伐未停

Investment Rating - Industry Rating: Recommended [3] Core Insights - The recent escalation of US semiconductor bans primarily targets the AI sector in China, with new regulations implemented by the BIS on January 13 and 15, 2025, including global licensing requirements for advanced computing integrated circuits and restrictions on closed-source AI model parameters [1][2][18] - The bans are expected to have a short-term negative impact on domestic AI computing power and large model development, but in the medium to long term, they will strengthen the logic of domestic substitution, accelerating the domestic replacement in the AI computing chip industry [2][30] - The AI terminal market is witnessing a surge in new products and applications, with various manufacturers actively participating in the development of AI smart terminals across multiple sectors, including smart home, smart driving, AI toys, and robotics [5][15][35] Summary by Sections Section 1: Semiconductor Ban and AI Development - The US government has intensified semiconductor and AI bans, focusing on restricting the development of China's AI industry, with specific measures targeting advanced chips and AI model parameters [1][2][18] - The latest regulations expand the scope of restrictions on Chinese companies' overseas wafer fabrication and impose stricter due diligence requirements on chip manufacturers [1][2][20] Section 2: AI Terminal Market Trends - AI smart terminals, which integrate AI technology to perform complex tasks and provide intelligent services, are gaining traction, with numerous manufacturers launching new products [5][15][35] - The applications of AI in smart terminals are expanding, enhancing user experience and operational efficiency in various domains, including smart homes and wearable devices [5][15][41] Section 3: Investment Recommendations - Beneficiaries of the current market dynamics include companies involved in large model inference, AI glasses, AI headphones, AI toys, AI system-on-chip (SoC), and AI storage solutions [6][17][30]