私募排排网·2025-08-26 07:00Core Viewpoint - The recent surge in the domestic computing power concept, led by Cambrian, has seen significant stock price increases and market capitalization growth, with Cambrian's market value approaching 600 billion yuan and a monthly increase of over 95% as of August 25, 2025 [2][9]. Group 1: Domestic Computing Power Concept - The domestic computing power concept gained momentum earlier this year due to the emergence of DeepSeek, and it has recently strengthened again with the release of DeepSeek-V3.1 [2][3]. - DeepSeek-V3.1 features a mixed reasoning architecture and supports both "thinking" and "non-thinking" modes, optimizing efficiency and reducing deployment costs [3]. - The introduction of UE8M0 FP8 precision in DeepSeek-V3.1 is designed for upcoming domestic chips, which is expected to drive upgrades in hardware and software stacks for companies like Huawei and Cambrian [3][4]. Group 2: Software and Hardware Developments - On the software side, domestic large models are continuously improving, with several top domestic models ranking among the best globally, providing a solid foundation for building related ecosystems [4]. - On the hardware side, multiple domestic manufacturers are now supporting FP8, and more AI computing power chips are expected to adopt FP8, accelerating the development of the domestic AI industry [5]. Group 3: Key Players in the Industry - A variety of companies are involved in the domestic computing power industry chain, including Huawei, Moore Threads, Haiguang Information, and Cambrian, each with specific collaborations or developments related to DeepSeek [6]. - The demand for self-sufficiency has increased, especially after NVIDIA requested suppliers to halt production of certain chips due to compliance pressures in the Chinese market, highlighting the uncertainties in the overseas GPU supply chain [6]. Group 4: Fund Holdings and Market Performance - As of the end of Q2 2025, there are 26 domestic computing power concept stocks with a market value of over 1 billion yuan held by public funds, with Cambrian being the most heavily held stock at nearly 38 billion yuan [9][10]. - Among these stocks, 11 companies have seen stock price increases of over 100% in the past three months, with New Yisheng leading with a 259% increase [10]. - 24 companies in the domestic computing power industry chain reported a year-on-year net profit growth of at least 30% in their mid-year reports, with New Yisheng's net profit increasing by 354.93% [14][15].