传媒：国内AI“千帆竞发”，关注政策端赋能全球人工智能生态繁荣

Investment Rating - The industry investment rating is "Leading the Market" indicating an expected outperformance of over 10% relative to the benchmark index in the next 6-12 months [6][8]. Core Insights - The report highlights the rapid development and iteration of domestic AI models, emphasizing a competitive landscape where multiple models are vying for dominance, which is expected to accelerate the application of AI technologies [5]. - International developments, particularly in the U.S., are seen as catalysts for job creation and investment growth in the AI sector, with significant investments planned for AI infrastructure [5]. - The report suggests a focus on several key companies in the AI ecosystem, including Tencent, NetEase, Kuaishou, and others, as potential investment opportunities [5]. Summary by Sections Industry Performance - The report provides a performance overview with relative returns of -8.61% over 1 month, 8.31% over 3 months, and -4.35% over 12 months, while absolute returns show -11.94% over 1 month, 4.79% over 3 months, and 11.77% over 12 months [4]. Recent Developments - Recent announcements include the launch of new AI features by various companies, such as the end-to-end real-time voice call function by Doubao APP and the release of advanced models by DeepSeek and others, indicating ongoing innovation in the AI space [5]. - The establishment of the "Stargate" company by major players like OpenAI and SoftBank, with a planned investment of $100 billion, is expected to significantly impact the AI infrastructure landscape [5]. Investment Recommendations - The report recommends monitoring companies such as Tencent, NetEase, Kuaishou, and others for potential investment, given their roles in the evolving AI ecosystem [5].