计算机行业双周报（2026/1/30-2026/2/12）：千问免单活动致服务器宕机，关注AI算力产业链投资机遇-20260213

Investment Rating - The report maintains an "Overweight" rating for the computer industry, expecting the industry index to outperform the market index by over 10% in the next six months [30]. Core Insights - The report highlights the recent surge in AI-related activities, particularly the "Spring Festival Treat Plan" by Alibaba's Qianwen APP, which led to a significant increase in AI-driven orders, indicating a growing demand for AI computing power [3][27]. - The report emphasizes the potential investment opportunities in the AI computing power supply chain, driven by the increasing adoption of AI applications by major tech companies [3][27]. Summary by Sections 1. Industry Performance Review - The SW computer sector experienced a cumulative decline of 0.49% over the past two weeks, outperforming the CSI 300 index by 0.23 percentage points, ranking 20th among 31 sectors [11]. - In February, the sector rose by 1.50%, surpassing the CSI 300 index by 1.22 percentage points, and has increased by 8.55% year-to-date, outperforming the CSI 300 index by 6.61 percentage points [11][16]. 2. Valuation Situation - As of February 12, 2026, the SW computer sector's PE TTM (excluding negative values) stands at 59.40 times, placing it in the 96.39th percentile over the past five years and the 91.04th percentile over the past ten years [21][22]. 3. Industry News - Key developments include the launch of the Seedance 2.0 video generation model by Doubao, which enhances video content creation capabilities [22]. - Alibaba's Qianwen APP achieved over 1.2 billion AI-driven orders within six days of launching its promotional campaign, highlighting the rapid growth in AI application usage [22]. - Major tech companies, including Amazon, Google, Microsoft, and Meta, are projected to increase their capital expenditures to $660 billion in 2026, a 60% increase from 2025 [22]. - MiniMax introduced its M2.5 model, significantly reducing operational costs while maintaining competitive performance [22]. - Google is integrating AI shopping features into its search engine, allowing direct purchases through AI-driven interactions [22]. 4. Company Announcements - Notable company announcements include: - Guiding Compass reported a 40.39% increase in revenue for 2025, reaching 2.146 billion yuan [25]. - Zhongke Shuguang plans to raise up to 8 billion yuan through convertible bonds for AI-related projects [25]. - Unisplendour announced a plan to raise up to 5.57 billion yuan for acquisitions and R&D [26]. 5. Weekly Perspective - The report suggests continued monitoring of Alibaba and other AI giants' strategies in the AI application space, as their growth is expected to drive demand for computing power [27]. 6. Recommended Stocks - The report lists several companies to watch, including: - GuoDianYunTong (002152.SZ) for its stable growth in fintech and AI sectors [28]. - Digital China (000034.SZ) as a key player in the domestic computing demand [28]. - Inspur Information (000977.SZ) for its leadership in AI server markets [28].