Core Viewpoint - The entrepreneurial window for the AI infrastructure sector has passed, and it is no longer a blue ocean market, with significant competition from established players like Nvidia [32][36]. Company Overview - Beijing Jiliu Technology, founded by Tsinghua and Peking University graduates, has rapidly completed seven rounds of financing in just over two years, with a recent A+ round raising nearly 100 million RMB [3][14]. - The company focuses on providing a full-stack autonomous AI computing infrastructure, utilizing its self-developed high-performance open-source computing system, Galaxy HPAC [5][12]. Market Dynamics - The AI infrastructure market is experiencing unprecedented growth, with global spending expected to exceed 100 billion USD by 2028, and a 37% year-on-year increase in investments in AI computing and hardware in the first half of 2024 [12][29]. - The demand for AI infrastructure is driven by the rapid evolution of AI technologies and the need for robust computing capabilities to support large model training and deployment [10][29]. Competitive Landscape - Jiliu Technology positions itself as a "builder" in the AI infrastructure space, focusing on constructing comprehensive computing systems, while competitors may focus on system optimization or platform operation [17][29]. - The company aims to differentiate itself by offering high performance, stability, and flexibility in its computing network components, allowing clients to customize their infrastructure without being tied to a single supplier [17][20]. Financial Performance - Jiliu Technology's revenue is projected to reach several hundred million RMB in 2024, with an expected growth rate of 50% in 2025 [5][31]. - The company has successfully transitioned from smaller computing clusters to larger ones, demonstrating its capability in delivering complex projects under tight deadlines [28][31]. Strategic Focus - The company emphasizes the importance of self-sufficiency in hardware and software development, aiming to create a complete ecosystem for AI infrastructure [28][29]. - Jiliu Technology's strategy includes continuous investment in research and development to enhance its product offerings and maintain competitiveness in a rapidly evolving market [31][36].