计算机周观察20250615：豆包大模型1.6性价比大幅提升，稳定币持续催化

Investment Rating - The report maintains a "Recommended" rating for the industry, indicating a positive outlook for the sector's fundamentals [2]. Core Insights - The launch of Doubao Model 1.6 significantly enhances performance while reducing costs to one-third of the previous model, making it a key focus for the AI Agent industry [1][9]. - The Hong Kong Stablecoin Regulation will take effect on August 1, 2025, which is expected to catalyze the development of the stablecoin ecosystem [22]. - The GENIUS Act is anticipated to pass in the Senate this month, potentially expanding the stablecoin market significantly [23][24]. Summary by Sections 1. Volcano Engine Force Conference Review - The conference held on June 11-12, 2025, introduced Doubao Model 1.6 and other models, showcasing a 137-fold increase in daily token usage since its previous release [9][20]. - Doubao Model 1.6 features a unified pricing model and superior capabilities, achieving top-tier scores in various assessments [10][14]. 2. Focus on Stablecoin Catalysts - The implementation of the Stablecoin Regulation in Hong Kong is a milestone for the sustainable development of the digital asset ecosystem [22]. - Ant Group plans to apply for stablecoin licenses in Hong Kong and Singapore, aiming to enhance its global financial management capabilities [22]. - The stablecoin market is projected to grow from $247 billion to $2 trillion by 2028 if the GENIUS Act is approved [23][24]. 3. Market Performance Review - The computer sector experienced a decline of 2.52% in the second week of June 2025, with notable stock performances from various companies [26][27].