人工智能行业报告（2025.08.18-2025.08.23）：DeepSeekV3.1提振国产算力和应用

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Viewpoints - The report highlights the launch of DeepSeek V3.1, which features an upgraded architecture and optimized capabilities, achieving a score of 71.6% in Aider programming benchmark tests, surpassing Claude Opus 4 [3][4] - The new model demonstrates significant improvements in agent capabilities and reasoning efficiency, reducing output tokens by 20%-50% while maintaining performance levels [4] - The introduction of the UE8M0 FP8 precision format in next-generation domestic chips is expected to enhance the competitiveness of domestic AI, reducing reliance on foreign computing power [5] Summary by Sections Industry Basic Situation - The closing index is at 5679.41, with a 52-week high of 5679.41 and a low of 2805.53 [1] Recent Developments - The report discusses the performance of DeepSeek V3.1, which has been released and open-sourced, showcasing its capabilities in programming and multi-task language understanding [3][4] - The report emphasizes the cost advantages of the new model, with programming tasks costing only $1.01 per task, significantly lower than proprietary systems [4] Investment Suggestions - The report suggests focusing on companies involved in domestic computing power and AI agents, including names like Cambricon, Yuntian Lifeng, and Kingdee International [7]