半导体行业事件点评：字节豆包上线视频通话功能，有望拉动上游算力需求

Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry, expecting the industry index to outperform the market index by over 10% in the next six months [7]. Core Insights - The launch of the real-time video call feature by ByteDance's Doubao AI is expected to drive demand for upstream computing power and accelerate the penetration of AI glasses [2][5]. - The integration of video call and internet search capabilities in Doubao represents a significant advancement in multi-modal interaction technology, enhancing user experience through real-time Q&A based on visual and language inputs [5]. - The demand for AI computing power is projected to grow rapidly due to the increasing complexity and data scale of AI models, particularly with video AI models requiring significantly more computational resources compared to text and voice models [5]. Summary by Sections Event Overview - Recently, ByteDance's Doubao AI launched a real-time video call feature that allows users to interact with the AI based on real-world scenes, enhancing the user experience with real-time information retrieval from the internet [3][5]. Technology Development - The video call model signifies a shift towards commercializing multi-modal perception technology, particularly in the visual interaction domain, which is expected to disrupt traditional content creation processes [5]. Market Implications - The introduction of the video model is anticipated to accelerate the adoption of AI glasses and other smart terminals, with projections indicating that by 2035, AI+AR smart glasses will replace traditional smart glasses, achieving a penetration rate of 70% and global sales reaching 1.4 billion units [5]. Investment Recommendations - The report suggests focusing on companies such as Haiguang Information (688041), Cambrian (688256), Hengxuan Technology (688608), Lexin Technology (688018), and Rockchip (603893) as potential beneficiaries of the increased demand for AI chips and SoC chips due to the launch of Doubao's video call model [5].