Investment Rating - The report maintains a "Positive" investment rating for the industry [7] Core Insights - The current market should focus on both AI applications and stablecoin investment opportunities, as the performance of overseas and domestic AI applications is expected to accelerate [6][63] - The recent release of the Kimi-K2 model and OpenAI's Agent mode indicates significant advancements in AI capabilities, which are likely to enhance commercial applications [6][29] Summary by Sections Market Performance - The computer sector rose by 2.23% last week, ranking 6th among major industries, with a trading volume accounting for 11.19% of the total market [2][12] Key Developments - The Kimi-K2 model was officially released and is now available for commercial use, priced at 16 RMB per million tokens [17][27] - OpenAI introduced the Agent mode, which allows for complex multi-tool tasks, enhancing the capabilities of AI applications [29][30] Investment Recommendations - Focus on AI applications with a Chinese characteristic infrastructure, particularly in data, computing power optimization, and adaptation, emphasizing IDC and domestic computing power supply chains [6][63] - Pay attention to large-scale AI application scenarios in education, justice, and healthcare [6][63] - In the stablecoin sector, monitor companies with issuance qualifications, technological expertise in blockchain, and relevant licenses [6][63] Market Trends - The global market for Real-World Asset (RWA) tokenization is expected to grow significantly, with projections indicating a potential market size of 500 billion USD by the end of 2025 [58][60] - The integration of traditional finance with blockchain technology is anticipated to reshape the financial landscape [54][63] Future Outlook - The report suggests that the advancements in AI models and the regulatory developments in stablecoins will create new investment opportunities, particularly in sectors like education, healthcare, and financial technology [6][63]