计算机行业双周报（2025、5、23-2025、6、5）：海内外AI领域催化不断，关注AI应用及AI算力投资机遇-20250606

Investment Rating - The report maintains an "Overweight" rating for the computer industry, expecting the industry index to outperform the market index by more than 10% in the next six months [1][34]. Core Insights - The report highlights continuous catalysts in the AI sector both domestically and internationally, emphasizing investment opportunities in AI applications and computing power [1][29]. - The computer industry index has shown a cumulative increase of 3.00% over the past two weeks, outperforming the CSI 300 index by 3.93 percentage points, ranking 6th among 31 primary industries [11][21]. - As of June 5, 2025, the SW computer sector's PE TTM (excluding negative values) stands at 51.28 times, positioned at the 79.50% percentile over the past five years and 65.37% over the past ten years [21][23]. Summary by Sections 1. Industry Performance Review - The SW computer sector has increased by 3.00% in the last two weeks, 3.24% in June, and 4.95% year-to-date, all outperforming the CSI 300 index [11][12]. 2. Valuation Situation - The current PE TTM for the SW computer sector is 51.28 times, indicating a high valuation relative to historical performance [21]. 3. Industry News - Significant developments include the enactment of the "Stablecoin Ordinance" in Hong Kong, advancements in AI models such as DeepSeek-R1 and Claude 4, and initiatives to enhance computing power interconnectivity [22][24][29]. 4. Company Announcements - Recent announcements include a successful bid by Chengdi Xiangjiang for a data center project worth 4.4 billion RMB and China Software's participation in a capital increase project for Kirin Software [25][26]. 5. Weekly Perspective - The report emphasizes the rapid development in the AI sector, with notable updates in AI models and applications, suggesting a focus on investment opportunities in AI and computing power [29]. 6. Recommended Focus Stocks - The report suggests monitoring specific companies such as GuoDian YunTong, Shenzhou Digital, and Inspur Information, which are positioned to benefit from trends in financial technology and domestic computing power demand [30].