计算机行业周报（20251215-20251219）：智谱、稀宇通过聆讯，大模型厂商上市在即-20251221

Investment Rating - The report maintains a "Recommended" rating for the computer industry, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [15]. Core Insights - The report highlights the imminent IPOs of major AI model companies, such as Zhiyu and MiniMax, indicating a significant opportunity for investment in the AI sector as domestic computing power continues to develop [4][18]. - The report emphasizes that 2026 will be a critical window for the commercial application of AI in enterprises, with a focus on multi-modal and physical AI, as well as edge AI [4]. - Zhiyu's upcoming IPO is seen as a pivotal event for independent AI model companies in China, potentially leading to a market consolidation where leading firms gain a larger market share [4][18]. - The report projects that the Chinese large language model market will grow from 5.3 billion RMB in 2024 to 101.1 billion RMB by 2030, with a compound annual growth rate of 63.5% [4]. Industry Overview - The computer industry consists of 338 listed companies with a total market capitalization of 56,738.11 billion RMB and a circulating market value of 51,410.85 billion RMB [1]. - The report notes a recent decline in the computer index by 1.58% over the week, while the Shanghai Composite Index saw a slight increase of 0.03% [4]. - The report identifies key players in the AI sector, including Zhiyu and MiniMax, which are positioned to capitalize on the growing demand for AI applications in various industries [4]. Performance Metrics - The absolute performance of the computer industry over the past month is -4.8%, with a 19.5% increase over the past six months and a 13.3% increase over the past year [2]. - The report indicates that the industry is experiencing a beta market trend, driven by the upcoming IPOs and advancements in AI technology [4].