AI产业系列跟踪专题研究报告：从DeepSeek看国内AI产业趋势

Investment Rating - The report gives a "Recommended" rating for the TMT industry, highlighting the significant algorithmic innovation brought by DeepSeek and its potential to shift AI technology from "computational power accumulation" to "algorithm innovation" [4][5]. Core Insights - DeepSeek's launch of the DeepSeek-R1 model, which matches the performance of OpenAI's o1 model while being significantly cheaper, has garnered global attention. The API pricing is approximately 1.8% to 3.7% of OpenAI's corresponding pricing [4][9]. - The report emphasizes the trend of AI technology becoming more accessible and affordable, which is expected to lead to widespread adoption of AI applications across various sectors, particularly in traditional SaaS and IaaS business models [5][19]. - The integration of DeepSeek with domestic computing power is seen as a strategy to break the overseas AI monopoly, enhancing the competitiveness of domestic chips and cloud services [5][17]. Summary by Sections DeepSeek Model Launch - DeepSeek-R1 was officially released on January 20, 2025, utilizing reinforcement learning techniques to achieve performance comparable to OpenAI's o1 model in various tasks [4][9]. - The API pricing structure is set at 1 yuan per million input tokens (cache hit) and 4 yuan (cache miss), with output tokens priced at 16 yuan per million, making it highly competitive [4][9]. Domestic Computing Power - DeepSeek's algorithmic innovations have significantly reduced the input/output pricing of inference models, enhancing the cost-effectiveness of domestic chips [5][17]. - Major cloud service providers in China, including JD Cloud, Tencent Cloud, and Alibaba Cloud, have announced the integration of DeepSeek models, which is expected to increase the utilization of domestic computing power [5][17]. AI Application Trends - The report identifies a trend towards the democratization of AI technology, with DeepSeek's open-source and low-cost features likely to stimulate the growth of AI applications [5][19]. - The report highlights the potential for AI applications to significantly enhance traditional business models, driven by government support for AI integration into consumer sectors [5][19]. Investment Recommendations - The report suggests focusing on domestic computing power segments, recommending companies such as Inspur Information (000977.SZ), Sugon (603019.SH), and Digital China (000034.SZ) [5][29]. - For AI application segments, companies like Kingsoft Office (688111.SH), iFlytek (002230.SZ), and Yonyou Network (600588.SH) are highlighted as potential investment opportunities [5][29].