人工智能周报（25年第34周）：英伟达或暂停生产H20芯片，DeepSeek-V3.1正式发布-20250825

Investment Rating - The report maintains an "Outperform" rating for the internet sector, indicating expected performance above the market index by more than 10% [4][33]. Core Insights - The e-commerce industry remains highly competitive, with platforms increasing investments in instant retail to seek new growth. AI is the current investment focus, benefiting major players in cloud computing and advertising, with North American giants seeing accelerated revenue growth in Q2 and raising their annual CAPEX [2][29]. - Key companies recommended for investment include Tencent Holdings, Alibaba, Meitu, Kuaishou, NetEase Cloud Music, and Tencent Music, which are expected to benefit from AI advancements [2][29]. Company Dynamics - Meta has restructured its AI team into four sub-departments, focusing on foundational research, AI infrastructure, consumer products, and advanced models [15][17]. - OpenAI plans to establish a local team in India and launch a tailored ChatGPT program to tap into the growing AI market [18]. - Google is expanding its AI capabilities globally, introducing new features to enhance user experience in search tasks [19]. - Alibaba is seeking to spin off its subsidiary, Zhibo Zhixing, for an independent listing in Hong Kong, aiming to enhance its smart vehicle and AI strategy [20]. - Tencent launched a new AI art creation tool, "VISVISE," aimed at improving efficiency in game development [21]. Underlying Technology - DeepSeek-V3.1 has been officially released, featuring significant upgrades in user interaction and performance [23][27]. - ByteDance introduced a new open-source AI model, Seed-OSS-36B, enhancing capabilities for developers [24]. - Alibaba's Tongyi Lab and DingTalk launched a new end-to-end speech recognition model, Fun-ASR, significantly improving accuracy in various industries [24]. Industry Policy - Shanghai's government has released a plan to accelerate the integration of AI and manufacturing, aiming to create competitive AI+manufacturing ecosystems by 2027 [25]. - The Ministry of Industry and Information Technology is collecting typical application scenarios for AI to support small and medium enterprises [28].