Cambricon(SH:688256) 券商中国·2025-10-22 07:02Core Viewpoint - The article highlights the resurgence of artificial intelligence (AI) in the market, driven by significant investments and developments in the sector, particularly in Guangdong province, which aims to boost AI-related investments to over 20 billion yuan by 2027, thereby expanding the industry scale to over 100 billion yuan [1][3]. Group 1: Market Performance - The stocks related to AI computing, particularly Cambrian, experienced a sharp rise, with Cambrian's stock increasing by over 7%, pushing its market capitalization back above 600 billion yuan [1][2]. - The overall market sentiment improved, with the STAR 50 index showing a notable rebound, indicating a revival in market interest towards technology stocks [3]. Group 2: Government Initiatives - Guangdong Province's government has introduced the "Action Plan for High-Quality Development of Manufacturing Empowered by Artificial Intelligence (2025-2027)," aiming to enhance industrial software and intelligent equipment, and to support the integration of AI with industrial internet platforms [3]. - The plan includes a target of over 20 billion yuan in AI-related investments by 2027, which is expected to drive the related industry scale to exceed 100 billion yuan [3]. Group 3: Global Investment Trends - According to Morgan Stanley, foreign capital inflow into the Chinese stock market reached 4.6 billion USD in September, marking a 10-month high, with total net inflows for the first nine months of 2025 exceeding 18 billion USD [4]. - High expectations for AI-driven growth in the Chinese stock market are supported by the belief that AI will enhance profitability and that policies aimed at reducing internal competition will further boost corporate profits [4]. Group 4: Company Upgrades - Morgan Stanley upgraded SMIC from "Neutral" to "Overweight," raising its earnings forecast for 2026-2027 and increasing the target price from 40 HKD to 80 HKD per share, driven by anticipated demand for advanced wafer foundry services due to rapid growth in AI applications [5].