INDUSTRIAL SECURITIES·2025-03-10 07:32Investment Rating - The report indicates a shift from strong beta to strong alpha in the computer industry, suggesting a focus on sectors with significant growth potential such as AI applications, cloud computing, and domestic innovation [4][6][7]. Core Insights - The report emphasizes the importance of AGI (Artificial General Intelligence) expectations, highlighting that the release of Manus has intensified market interest in AGI, which could lead to a significant evolution in technology companies and AI applications [7][8]. - The RISC-V open-source ecosystem is rapidly developing, with a projected compound annual growth rate (CAGR) of over 40% for RISC-V based SoCs, expected to reach 20 billion units by 2024 and over 200 billion by 2031 [9][11]. - The report suggests focusing on companies within the RISC-V ecosystem and those involved in AI, cloud computing, and domestic innovation, such as Haiguang Information, Keda Information, and others [8][19]. Summary by Sections Industry Overview - The computer industry index rose by 6.46% from March 2 to March 8, outperforming the ChiNext index by 4.85 percentage points [21][22]. - The report notes that the current momentum in the computer industry is comparable to the upward trend observed from 2018 to 2020, but with stronger potential this time [4][6]. RISC-V Ecosystem - RISC-V architecture is rapidly evolving, characterized by its modularity and open-source nature, which allows for high scalability and low energy consumption [11][12]. - The domestic RISC-V ecosystem is thriving, with major companies like Alibaba and Huawei actively participating, and the RISC-V International Foundation has over 4000 members from 52 countries [9][14]. - Investment recommendations include companies like Haiguang Information, Cambrian, and Loongson Technology, which are positioned to benefit from the increasing penetration of domestic software and hardware [19][20]. Market Performance - The report highlights that the computer industry has shown strong performance, with significant weekly gains and a notable increase in trading volume [21][22]. - Specific stocks such as Xinkai Pu and Hengfeng Information have seen substantial weekly increases, indicating strong market interest [23]. Major News - The report covers significant developments in AI, including the launch of the QwQ-32B model by Alibaba, which demonstrates competitive performance with significantly fewer parameters compared to existing models [36]. - The report also notes the increasing deployment of AI technologies in the financial sector, with multiple institutions adopting the DeepSeek model for various applications [44].