Investment Rating - The report maintains a "Positive" investment rating for the industry [7] Core Insights - The computer sector experienced a slight increase of 1.96% last week, ranking 19th among primary industries in the Yangtze River region, with a trading volume share of 10.96% [2][4] - Major cloud service providers in the US, such as Microsoft, Google, and Amazon, have reported better-than-expected earnings, indicating strong demand in the cloud services market [6][32] - The report emphasizes the importance of cloud infrastructure as a foundation for all applications, suggesting that the domestic application ecosystem is competitive with international counterparts [6][32] Summary by Sections Market Performance - The computer sector saw a slight increase of 1.96% last week, with the Shanghai Composite Index closing at 3342.00 points, up 1.92% [4][13] - The sector's trading volume accounted for 10.96% of the total market, with notable activity in military information technology and Hongmeng themes [2][4] Key Recommendations - The report recommends focusing on: 1. Major cloud service providers 2. Domestic computing power supply chains, including Cambrian and Ascend 3. IDC and computing power leasing suppliers [6][32] Notable Developments - Neuralink's brain-computer interface device received "breakthrough device" certification from the FDA, showcasing its potential in aiding patients with severe speech impairments [18][25] - Huawei's Hongmeng PC was officially launched, marking a significant step in the domestic PC market with a fully self-developed operating system [26][31] Financial Insights - Recent earnings reports from major internet companies like Tencent and Alibaba are expected to draw market attention, particularly regarding their capital expenditure (Capex) [6][36] - Alibaba's cloud business showed a significant revenue increase, driven by double-digit growth in public cloud services, while Tencent's Capex has also seen substantial year-on-year growth [36][39]

Investment Rating - The report maintains a "Positive" investment rating for the industry [8] Core Insights - On May 4, Neuralink's brain-computer interface (BCI) device, Link, received "Breakthrough Device" designation from the FDA, aimed at helping patients with severe speech impairments regain communication abilities. This certification indicates a positive outlook for the clinical application of the Link device, potentially accelerating the research, evaluation, and review processes, thus hastening the large-scale commercialization of brain-computer interfaces [2][5][11] - The report suggests focusing on three main investment themes: 1) Domestic mapping of the advanced overseas invasive brain-computer interface industry chain; 2) Product landing related to non-invasive brain-computer interfaces in consumer scenarios; 3) Downstream application-related targets of brain-computer interfaces [2][11] Summary by Sections Event Description - Neuralink's Link device received FDA's "Breakthrough Device" certification on May 4, aimed at assisting patients with severe speech impairments [5] Event Commentary - The Link device aids patients with neurological diseases such as ALS, stroke, spinal cord injuries, cerebral palsy, and multiple sclerosis in regaining communication abilities. A recent demonstration showed an ALS patient successfully using the Link device to control a computer cursor through thought, showcasing the device's interaction capabilities [11] - Neuralink is expanding its patient registration globally, which may lead to broader applications of BCI technology in health fields, including visual restoration. The Blindsight device, aimed at restoring vision for those with complete blindness, has also received FDA's "Breakthrough Device" certification [11] - The domestic brain-computer interface industry is expected to accelerate under supportive policies, with recent initiatives from the Ministry of Industry and Information Technology and local governments promoting BCI technology development and commercialization [11]