计算机行业深度报告：DeepSeek惊艳世界，算力与应用将迎来结构性变化

Investment Rating - The report maintains a "Positive" investment rating for the computer industry [5] Core Insights - AI applications are entering a practical phase, presenting numerous investment opportunities, particularly for domestic computing and inference service companies benefiting from the AI boom [3][12] - DeepSeek's recent models, DeepSeek-V3 and R1, have significantly reduced training and inference costs, impacting the AI application and computing industry profoundly [12][29] Summary by Sections 1. DeepSeek-V3 and R1 Model Launch - DeepSeek-V3 has outperformed other open-source models and is on par with leading closed-source models [13][14] - R1 model has achieved inference capabilities comparable to OpenAI's o1 model, utilizing minimal labeled data [19][22] 2. Technical Innovations in DeepSeek Models - DeepSeek-V3 employs several innovative techniques, including FP8 precision training and DualPipe architecture, to lower training costs [35][40] - The model's architecture allows for significant parameter activation efficiency, activating only 37 billion parameters for each task while having a total of 671 billion parameters [35][40] 3. Structural Impact on AI Computing and Applications - The introduction of DeepSeek models is expected to alter the demand for computing resources and market structure, leading to significant stock price drops for companies like Nvidia and Broadcom [52][57] - The report suggests that the lower inference costs and open-source nature of DeepSeek models will stimulate broader AI application adoption, potentially increasing overall demand for computing resources [55][56] 4. Investment Recommendations - Recommended companies for investment include Kingsoft Office, Dingjie Zhizhi, and others in the enterprise application sector [3][12] - Companies with strong advantages in vertical industry applications, such as iFlytek and Focus Technology, are also highlighted [3][12] - For AI tools, companies like CaiXun Co., Rainbow Soft Technology, and others are suggested for investment [3][12] - Domestic computing and service companies like Haiguang Information and Cambrian are recommended as well [3][12]