Group 1 - The core viewpoint is that artificial intelligence (AI) is a key driving force for future development in the technology industry, with significant innovation and investment opportunities expected to revolve around AI in the next five years [1][3] - The manager of the Huashang Leading Advantage Mixed Fund, Peng Wu, emphasizes the importance of selecting leading domestic computing power companies while closely monitoring their progress, as well as focusing on AI applications related to smart driving and 3C innovation [1][4] - In the North American market, there is a clear trend of AI applications forming a closed loop, as evidenced by the substantial growth in annual recurring revenue (ARR) of AI research companies and the increase in token usage [3][4] Group 2 - The domestic AI industry chain is actively breaking through challenges from the external environment, with domestic equipment making significant advancements in advanced process equipment and improving yield rates on advanced production lines [3][4] - The investment strategy involves a dual-line approach: one focusing on leading companies in A-shares that participate deeply in the North American supply chain, and the other on innovative fields such as upstream materials for PCB and optical modules [4] - The analysis indicates that the next wave of innovation driven by AI may lead to hardware transformations, similar to how the mobile internet revolution spurred the development of smartphones [4]