消息面上， DeepSeek8月21日正式发布DeepSeek-V3.1。据了解，DeepSeek-V3.1本凭借整合思考与非思考模型的技术创新稳居开源大模型榜首，同时，该版 本使用了UE8M0 FP8 Scale的参数精度。DeepSeek官方表示，UE8M0 FP8是针对即将发布的下一代国产芯片设计。 中信建投证券指出，DeepSeek模型更新至V3.1版，新增支持FP8精度和国产芯片。此举有望推动国产算力生态加速落地。腾讯业绩会上透露，公司推理芯片 供应渠道多元化，国际供应链波动下，国产推理算力芯片或成助力。华为昇腾芯片近期在政府、金融等行业的应用逐步扩大，进一步体现国产芯片的市场竞 争力正在提升。 中信建投证券认为，当前AI大模型的用户渗透率仍较低，大模型发展仍处于中初级阶段，产业化应用周期才开始，大模型带来的算力投资方兴未艾，资本 开支会随着大模型收入的增长而增长，投资的天花板可以很高。当前对于算力基础设施产业链，北美链和国产链都值得关注。 相关产品： 截至2025年8月22日 10:23，中证芯片产业指数(H30007)强势上涨5.61%，成分股海光信息(688041)上涨17.36%，盛美上海( ...

Group 1: Market Performance - On May 22, A-share indices showed mixed performance, with active trading in chip stocks [1] - The Tianhong Chip ETF (159310) rose over 0.7%, with notable gains from companies like Wentai Technology (up over 4%) and others [1] - The Tianhong Sci-Tech ETF (589860) also increased by over 0.5%, with significant rises from companies such as Sanjing Guojian (up over 19%) and Xidi Micro (up over 14%) [1] Group 2: Fund Flows - On May 21, the Tianhong Chip ETF (159310) saw a net inflow of over 4 million yuan, ranking first among similar products [1] Group 3: Industry Insights - The Chip Industry ETF (159310) tracks the CSI Chip Industry Index, which includes companies involved in chip design, manufacturing, packaging, and testing [1] - The Tianhong Sci-Tech ETF (589860) covers 97% of the Sci-Tech board's market value, with the semiconductor sector representing 37% of the secondary industry distribution [1] Group 4: Company Developments - Xiaomi announced a strategic product launch event on May 22, introducing the new SoC chip "Xuanjie O1" and flagship products like the Xiaomi 15S Pro and Xiaomi Pad 7 Ultra [2] - The Xuanjie O1 chip, designed by Xiaomi, is a 3nm flagship chip that has begun mass production [2] Group 5: Market Trends - Domestic computing chips are gradually closing the gap with international leaders due to ongoing technological innovation and market expansion [2] - By 2025, domestic large models are expected to lead global AI industry development, with companies like DeepSeek and Doubao making significant advancements [2]