Core Viewpoint - The strategic cooperation agreement between Guangdong-Hong Kong Bay Holdings and Huagong Technology aims to establish a long-term partnership in AI computing power and network infrastructure, enhancing both companies' capabilities in the domestic and global markets [1] Group 1: Strategic Cooperation Agreement - Guangdong-Hong Kong Bay Holdings' subsidiary, Shenzhen Tiandun Data Technology, signed a strategic cooperation agreement with Huagong Technology on December 9, 2025, with a cooperation period of five years [1] - The agreement emphasizes complementary advantages, resource sharing, collaborative innovation, and mutual benefits [1] Group 2: Areas of Collaboration - The partnership will focus on comprehensive and in-depth cooperation in the fields of AI computing power and network infrastructure [1] - The collaboration will cover demand development, technological innovation, product research and development, product sales, and customer service [1] Group 3: Benefits of the Agreement - The agreement is expected to integrate the company's strengths in networking technology, computing power operations, and AI-generated content applications with Huagong Technology's expertise in optical communication and advanced optical module products [1] - The collaboration aims to create high-performance, stable, and reliable intelligent computing integrated products and solutions, promoting the development of both companies' products and services [1] - The partnership will facilitate the expansion of intelligent computing business in both domestic and global markets, contributing to the growth of the intelligent computing industry [1]

Group 1 - The "2025 Integrated Intelligent Computing Industry Ecosystem Conference" held in Nanning focuses on the integration of intelligent computing to empower industrial upgrades and green computing infrastructure [1][2] - Nanning is rapidly developing its artificial intelligence industry, forming a comprehensive ecosystem covering computing power, algorithms, and application scenarios, with significant projects and leading companies establishing a presence [2][3] - The conference showcased Nanning's potential in the intelligent computing sector, highlighting favorable policies, geographical advantages, and complete industrial support, which stimulated strong cooperation interest among enterprises [3][5] Group 2 - Companies are leveraging Nanning's advantages to enhance local manufacturing through data empowerment, aiming to connect advanced industrial data solutions with the manufacturing needs of ASEAN countries [3][4] - The establishment of strategic partnerships, such as the collaboration between Supercom and Guangxi Nanyi Intelligent Technology, aims to create a domestic computing resource pool and enhance regional computing capabilities [5][6] - Nanning is positioned to develop key industries like new energy, electronic information, and equipment manufacturing, while promoting AI applications in collaboration with ASEAN countries [6]

Core Insights - China Mobile has launched the GSE 2.5 version protocol standard and initiated the "National Core National Connection" intelligent computing open interconnection GSE ecological initiative, highlighting the importance of large-scale computing clusters in global model competition [1] Group 1: GSE 2.5 Version Standard - The GSE 2.5 version standard enhances multiple key technologies based on the GSE 2.0 version, including support for streamlined message design and RDMA full operation type out-of-order reception mechanisms [1] Group 2: National Core National Connection Initiative - The "National Core National Connection" ecological initiative aims to gather industry forces and build an open and complete GSE ecosystem, collaborating with chip and equipment manufacturers to set milestones [1] Group 3: Future Collaboration and Goals - China Mobile plans to continue technical research, chip development, and ecosystem construction with industry partners to accelerate the industrialization of the "National Core National Connection" intelligent computing cluster, strengthening the foundation of China's computing infrastructure and enhancing the global competitiveness of the intelligent computing industry [1]

Core Insights - The report highlights the rapid transformation of the global economy driven by artificial intelligence (AI), predicting a 15% growth in global economic scale over the next decade, with a contribution of 11 trillion yuan to China's GDP by 2035 [1][16] - 2025 is identified as a pivotal year for the large-scale application of AI, with the intelligent computing industry emerging as a core engine for digital economic growth [1][17] Global Policy Landscape - A global competition in intelligent computing policies has commenced, with the US planning to invest $500 billion over four years to enhance AI infrastructure through the "Stargate Project" [1][19] - The European Union has launched the "InvestAI" initiative, aiming to raise €200 billion for AI investments and establish a €20 billion fund for building AI super factories [1][20] - Japan and South Korea are also accelerating their investments in AI and semiconductor industries, with Japan planning to invest over $65 billion by 2030 and South Korea establishing a national AI computing center [1][21][22] China's Development Path - China's intelligent computing industry is characterized by an "application-driven + inclusive service" approach, with multi-level policy support promoting AI applications across various sectors [2][24] - As of June 2025, China has 10.85 million standard racks in use, with an intelligent computing scale of 788 EFLOPS and a total storage capacity exceeding 1,680 EB, maintaining a leading position globally [2][16] Demand and Supply Dynamics - The demand side is shifting from "training" to "inference," with inference models evolving from pure text to multi-modal capabilities, expected to account for over 70% of global computing demand by 2026 [3][4] - On the supply side, major tech companies are significantly increasing their capital expenditures, with a projected $246 billion in 2024, and China's intelligent computing market growing by 43% [4][5] Future Trends - Five key trends are anticipated in the intelligent computing industry: accelerated domestic chip replacement, expansion of computing clusters, green transformation of AI infrastructure, evolution of integrated intelligent computing platforms, and increased penetration of AI applications in vertical industries [5][6] - The market for vertical AI applications is expected to grow from $5.1 billion to $47.1 billion by 2030, indicating substantial potential in various sectors [5] Regional Development - China's intelligent computing industry exhibits significant regional disparities, with Guangdong, Beijing, Jiangsu, and Shanghai leading in innovation, while other provinces are catching up through local economic vitality and policy support [6][24] - Technological innovations such as PD separation, heterogeneous mixed training, and silicon photonics are driving industry breakthroughs [6][6]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The rapid development of large model technology is fundamentally transforming the global computing paradigm, with a shift from traditional CPU cloud computing to GPU-centric intelligent computing [3] - The cloud service industry's value chain is being reshaped, with profound changes in the business logic, commercial models, and competitive factors across IaaS, PaaS, and SaaS layers [3] - The industry is transitioning from a "compute-first" approach to building model ecosystems and commercializing applications, with a significant application explosion expected around 2025 [16][19] Summary by Sections Industry Overview - The intelligent computing industry has formed a four-layer structure: hardware, cloud, model, and application, currently transitioning from "compute-first" to "model ecosystem building" and "application commercialization" [10][16] - The industry value transfer trend indicates a shift from heavy investment in infrastructure to a focus on model ecosystem construction and the commercialization of industry-specific agents [19] IaaS Layer Opportunities - The core value of the IaaS layer lies in selling GPU computing power, with high-end card retention and vertical industry capability construction being key to capturing high-value clients [30][33] - Major clients include internet giants, government enterprises, and AI-driven emerging industries, all of which have significant demand for GPU computing power [31] - The growth path for IaaS involves selling bundled solutions of IaaS, PaaS, and MaaS to industry clients, enhancing customer stickiness and increasing average transaction value [36] PaaS Layer Opportunities - MaaS is becoming the core revenue entry point for cloud vendors, with those possessing self-research capabilities needing to adopt a dual strategy of open and closed source to lock in customers [41][42] - The success of MaaS hinges on the ability to provide a rich model marketplace and a comprehensive toolchain for clients, driving resource consumption in IaaS and PaaS layers [42][44] SaaS Layer Opportunities - The SaaS market is shifting towards deep vertical integration, where the ability to build industry-specific products is crucial for customer retention [52][55] - Large cloud vendors face challenges from smaller firms that leverage low prices and localized services to capture market segments that larger companies cannot reach [55] - Effective strategies for entering the SaaS market include "soft-hard integration" and building Agent platforms to transform from direct competitors to value integrators and ecosystem enablers [57][59]

Group 1 - The company, Junxin Co., is focusing on the integration of waste incineration with emerging fields such as digital industry and intelligent manufacturing [2] - A strategic cooperation agreement has been signed with Changsha Digital Group Co., aimed at developing "waste-free cities," environmental digital upgrades, green electricity, and collaborative development in the intelligent computing industry [2] - The company will disclose any significant developments related to this cooperation in accordance with regulations [2]

Core Insights - The event "Science and Innovation in Yangzhou and Future of Business Travel" was held in Hangzhou, where a strategic cooperation agreement was signed between Nine Chapters Cloud Extreme DataCanvas, Yangzhou Big Data Group, and Yangzhou Guangling New City Investment Development Group [1][3] - The collaboration aims to create a high-performance, highly available, and user-friendly inclusive computing center to accelerate the aggregation and deep application of the "AI+" industry in Yangzhou [1][3] Group 1 - The three parties will focus on the core aspects of the intelligent computing industry, integrating resource advantages to form a development synergy [3] - Yangzhou Big Data Group will leverage its data technology and resource advantages to build the data foundation and security barrier for the computing center [3] - Yangzhou Guangling New City Investment Development Group will utilize its operational and ecological cultivation advantages to provide support and scene docking for the computing center [3] Group 2 - Nine Chapters Cloud Extreme DataCanvas, as a leading AI infrastructure and intelligent computing cloud provider, will leverage its technological advantages in inclusive computing [3] - The company will address traditional AI computing cost issues, low utilization rates, and supply-demand mismatches through its innovative Nine Chapters Intelligent Computing Cloud platform [3] - The collaboration aims to provide comprehensive support for the construction of the inclusive computing center, covering everything from basic computing scheduling to upper-level model fine-tuning applications [3] Group 3 - This cooperation exemplifies the collaboration between government and enterprises in building an intelligent computing ecosystem [3] - It marks a significant step for Yangzhou in constructing a new type of infrastructure that integrates computing power, algorithms, and data [3] - The widespread penetration of inclusive computing services is expected to support the digital transformation of Yangzhou's characteristic industrial system and inject new momentum into the integrated development of the digital economy in the Yangtze River Delta [3]

Core Insights - The launch of the OISA 2.0 protocol at the 2025 China Computing Power Conference signifies a significant step forward in China's intelligent computing industry, focusing on technological innovation and ecosystem collaboration [1][3] - The OISA (Omni-Directional Intelligent Sensing Interconnection Architecture) protocol aims to create an efficient, intelligent, flexible, and open AI chip interconnection system, enhancing the performance of super-node computing clusters [3] Industry Developments - The OISA 2.0 protocol supports up to 1024 AI chips, with bandwidth exceeding TB/s and interconnection latency reduced to hundreds of nanoseconds, facilitating data-intensive AI applications such as large model training and inference [3] - The collaboration between China Mobile and partners like Moore Threads emphasizes the importance of domestic GPU innovation and the establishment of an open, collaborative ecosystem in the AI and computing sectors [3] Company Contributions - Moore Threads has actively participated in the formulation of the OISA standard, showcasing its core technological capabilities in AI and computing, and ensuring compatibility with mainstream AI frameworks and applications [3] - As OISA 2.0 is implemented, Moore Threads plans to integrate the latest technological requirements into its product iterations, enhancing product advancement and optimizing architecture to support higher levels of independent innovation and integrated development in China's GPU ecosystem [3]

Core Viewpoint - Guizhou Province, specifically Guiyang, has initiated local legislation in the field of computing power, providing a legal framework for the orderly development of the computing power industry, with the "Guiyang Computing Power Industry Promotion Regulations" taking effect on August 1 [1] Group 1: Legislative Framework - The "Guiyang Computing Power Industry Promotion Regulations" is the first local regulation to define the concept of "computing power," covering the entire value chain including infrastructure construction, software and hardware R&D, technological innovation, service applications, and security [1] - The regulations consist of five chapters and thirty-two articles, mandating that governments at the county level and above take measures to promote the collaborative development of the computing power industry and related sectors [1] Group 2: Industry Development - Guizhou's computing power scale is projected to exceed 55 Eflops in 2024, doubling from 2023, with intelligent computing accounting for over 90% of this capacity [2] - The province has issued 177 computing power vouchers nationwide, successfully surpassing the 10 billion yuan mark in the computing power industry scale [2]

Core Viewpoint - The international academic seminar on high-level multilingual models highlighted the urgent need to address the digital divide affecting low-resource languages, as global mainstream models inadequately support these languages, posing a risk of marginalization for small language countries [1][5]. Group 1: Expert Opinions - Professor Vlado Delić from Serbia emphasized that Serbian language representation in general models is less than 0.1% in token usage, significantly lower than Slovenian, advocating for national-level models that reflect cultural identity to avoid translation errors in critical fields like healthcare and law [3]. - Avner Algom, founder of the Israeli Human Language Technology Association, stated that language services should not be designed solely for major languages, advocating for technological equity for small languages [5]. - Nipat Jongsawat from Thailand highlighted that language sovereignty is a strategic necessity for nations, not merely a choice [5]. Group 2: Technological Developments - Liu Cong, director of iFlytek Research Institute, reported that their multilingual model, Spark X1, expanded from supporting 81 languages in October 2022 to over 130 languages by July 2023, aiming to provide a comprehensive multilingual model and applications [5]. - The Spark X1 model reportedly outperforms GPT-4.1 in key languages such as Arabic, German, French, Korean, and Japanese, while the speech synthesis model supports 55 languages with leading industry performance [5]. - Zhang Xiao, deputy general manager of iFlytek's intelligent computing division, identified challenges in the rapid iteration of computing power and low efficiency in existing resources, proposing a five-element solution combining computing power, algorithms, data, applications, and ecosystem [7]. Group 3: Data Quality and Collaboration - Gábor Prószéky, director of the Hungarian Linguistics Research Center, stressed that data quality is more critical than quantity for building reliable large language models, noting the unique challenges posed by the Hungarian language's complex morphology [7]. - His team has developed the PULI model family, collaborating with Chinese AI counterparts to create a complete closed loop from training to application [7].