S0340521020001 电话：0769-22110619 邮箱： luoweibin@dgzq.com.cn 计算机行业 2025 年 5 月 9 日 卢芷心 S0340524100001 电话：0769-22119297 邮箱： luzhixin@dgzq.com.cn 罗炜斌 陈伟光 S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.cn 究 报 告 资料来源：iFinD，东莞证券研究所 相关报告 超配（维持） 计算机行业双周报（2025/4/25-2025/5/8） 行 业 2025Q1 北美四大 CSP 资本开支高增，预计全球算力需求将维持高景气 投资要点： 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 SAC 执业证书编号： 计 算 机 行 业 指 数 涨 跌 幅 及 估 值 ： 申 万 计 算 机 板 块 近 2 周 （2025/4/25-2025/5/8）累计上涨7.35%，跑赢沪深300指数5.54个百分 点，在31个申 ...

Core Insights - The latest "Global CIO Report" by Lenovo and IDC indicates that global enterprise AI spending is expected to grow by 200% by 2025, highlighting a surge in AI application demand and market expansion [1] - Despite 92% of enterprises planning to increase AI investments over the next three years, only 1% believe they have achieved "mature deployment," with data privacy concerns and lack of scalable implementation capabilities being significant barriers [1] Group 1 - The challenge of scalable implementation is a core issue hindering AI application deployment, with traditional AI projects often taking months to implement, leading to a mismatch between technical investment and business needs [1] - Lenovo has introduced two innovative delivery models: Super Factory and AI as a Service (AaaS), aimed at addressing diverse industry needs and accelerating the application of intelligent agents [1][2] Group 2 - The Super Factory leverages hybrid AI advantages to provide standardized modules for rapid delivery, allowing clients to experience and customize intelligent agents online, significantly reducing deployment time by 80% compared to traditional AI projects [2] - AI as a Service encapsulates intelligent agents as a subscription-based service, enabling businesses to access AI functionalities without the need for complex system construction, thus promoting a lightweight and dynamic approach [2] - Lenovo has been leading the transformation of IT services towards AI services in China, with notable projects including the establishment of urban super intelligent agents and partnerships in the cultural tourism sector [2]