Investment Rating - The report maintains a "Buy" rating for multiple companies in the communication sector, including 沪电股份 (002463.SZ), 美格智能 (002881.SZ), 中际旭创 (300308.SZ), 天孚通信 (300394.SZ), and others [1]. Core Insights - The report highlights the broad prospects for domestic computing power chips and the acceleration of AI digital interaction in commercial scenarios, indicating a positive outlook for related industry chain investment opportunities [2][6]. - The reintroduction of the H20 chip is expected to provide more computing power options for AI application companies, alleviating the shortage of high-end chips and accelerating the commercialization of AI applications [3][20]. - The RISC-V summit in 2025 is seen as a pivotal moment for China's chip industry, with significant contributions to the global RISC-V chip shipment volume expected from China [19][20]. Summary by Sections Industry Viewpoints - The communication sector index increased by 7.56%, outperforming the Shanghai and Shenzhen 300 index by 6.47 percentage points [14]. - The report emphasizes the importance of the H20 chip and RISC-V developments in enhancing China's chip autonomy and innovation capabilities [24][32]. Weekly Strategy Insights - The approval of H20 chip exports to China and the launch of the RTX Pro GPU by NVIDIA are significant developments that could enhance the domestic chip market [18][24]. - The AI model Grok 4 has shown substantial improvements in human-like simulation capabilities, indicating a growing trend in AI-driven digital interactions [21][51]. Communication Industry Dynamics - The report notes that the domestic computing power market is expanding rapidly, with the AI chip market expected to reach 141.2 billion yuan in 2024, reflecting a 41.9% year-on-year growth in 2023 [20][36]. - The investment scale of China's intelligent computing center market reached 87.9 billion yuan in 2023, with a projected growth to 288.6 billion yuan by 2028 [50][51].

Core Insights - Grok has launched a new "smart companion" feature based on its recently introduced Grok 4 models, allowing for natural interactions with users [2] - The introduction of anime characters Ani and the panda "Bad Rudy" has generated significant interest among the anime community, indicating a strong focus on character design [2] - The update has sparked controversy due to the inclusion of a NSFW mode, which reportedly contains inappropriate content, raising concerns about content moderation [6] Group 1 - The new Grok feature enables real-time interaction with AI characters, showcasing advanced capabilities in generating expressions and actions based on user input [7] - Users have expressed excitement about the interaction quality, noting that it feels like engaging with anime characters rather than pre-set animations [7] - Ani has already gained a following, with fan art being created, suggesting a growing interest in AI-driven digital interactions as a potential new trend in the internet and gaming industries [9] Group 2 - There are indications that additional characters, such as a male anime character named Chad, are in development, hinting at future expansions of the Grok platform [4] - The technology behind Grok's character interactions is being recognized as a significant advancement in AI, combining language, emotion, and behavior into a cohesive experience [7] - The ongoing testing phase of this feature suggests that further refinements and enhancements are expected, which could solidify its position in the market [7]