2025-11-11 01:01Investment Rating - The report indicates a significant shift in the AI industry, with low-cost, open-source Chinese AI models gaining traction among global users and Silicon Valley companies [6][7][20]. Core Insights - Nvidia's CEO Jensen Huang initially claimed that "China is going to win the AI race," but later adjusted his statement to suggest the US is only "nanoseconds behind" [4][28]. - There is a growing trend of US companies, such as Airbnb and Cursor, adopting Chinese AI tools due to their cost-effectiveness and performance advantages [8][9][10]. - Cumulative downloads of Chinese AI models have surpassed those of US models, with Alibaba's Qwen achieving 385.3 million downloads compared to Meta's Llama at 346.2 million [17][18]. Summary by Sections - Market Dynamics: The report highlights a subtle shift in the AI landscape, where low-cost, open-source Chinese AI models are attracting global users and gaining popularity in Silicon Valley [6][7]. - Company Adoption: Companies like Airbnb and Cursor are increasingly relying on Chinese AI tools, citing their affordability and efficiency [9][10][14]. - Download Statistics: Data shows that Chinese AI models have overtaken US models in cumulative downloads, with Qwen accounting for over 40% of new language models on platforms like Hugging Face [17][18][19].