计算机行业AI算力：政策加持，全球共振

Investment Rating - Maintain investment rating for the computer industry, focusing on AI and digital economy sectors [2][8] Core Insights - Continuous focus on sectors benefiting from policy and technological dividends, particularly AI and digital economy [2][8] - AI computing power is experiencing sustained demand growth, supported by government policies and global tech giants' capital expenditures [2][10] Summary by Sections 1. Industry Weekly Viewpoints - The report emphasizes the importance of policy dividends and suggests focusing on high-performing sectors in Q1, particularly AI and digital economy [2][8] - AI computing power is identified as a foundational infrastructure for the AI industry, benefiting from government incentives and increasing capital expenditures from major tech companies [2][8] 2. AI Computing Power: Policy Support and Global Resonance 2.1 Policy Dividends and Rapid Demand Expansion - AI computing power demand is rapidly expanding, with supportive policies from various government departments [10][11] - The National Development and Reform Commission and other departments have set ambitious targets for computing power infrastructure by 2025, including a scale exceeding 300 EFLOPS [10][11] 2.2 Performance Surge of AI Computing Giants - Major cloud service providers like Microsoft and Google are significantly increasing their capital expenditures, reflecting strong demand for AI computing power [22][24] - Nvidia's revenue reached $22.103 billion in Q4 2023, a 265.28% year-on-year increase, driven by AI computing demand [26][27] 2.3 Investment Recommendations and Company Listings - Recommended companies for investment include Haiguang Information, Inspur Information, and Ziguang Group, among others [32][33] 3. Market Review - The computer index rose by 8.15% from February 25 to March 2, outperforming other indices [33][34]