Summary of Key Points from Conference Call Records Industry Overview - The computer sector's holdings are near historical lows at approximately 2.0%, compared to a peak of 6% during the 2018 cloud computing boom, indicating potential for growth [1][3] - The 2025 World Artificial Intelligence Conference (WAIC) has a total area exceeding 70,000 square meters, with significant proposals from Premier Li Qiang regarding AI accessibility and governance [1][4] Key Insights and Arguments - The AI sector is expected to see several catalytic events, including the WAIC, the anticipated release of GT5 in early August, and the Rtwo or V4 models in the latter half of Q3, which will drive AI technology development and application [1][5] - Recommended AI application stocks include Kingdee Digital Enterprise in Hong Kong and several A-share companies such as Jingjie, Hand, Saiyi, Kingsoft, and Hongsoft, all of which have stable fundamentals and positive Q2 earnings expectations [1][6] - China aims to enhance AI chip independence through improved single-card capabilities and distributed network construction, exemplified by Huawei's Cloudmagic 384 [1][7] Technological Developments - Huawei's Cloudmetric 384 features high bandwidth and low latency designs, significantly improving multi-expert inference efficiency, equipped with 384 cards, achieving a single card BF16 computing power of 800 TFLOPS, surpassing NVIDIA A100 [1][8][9] - The AI chip sector is witnessing significant advancements, with the VICO2.25 showcasing multiple AI chips, including the 910C chip with BF16 computing power nearing 800 TFLOPS and a memory capacity of 128GB [1][10] Liquid Cooling Technology - Liquid cooling technology is highlighted as a key feature at the Wetalk 2025 conference, with the Chinese liquid cooling server market projected to reach approximately 11.5 billion in 2024 and expand to 68 billion by 2027, reflecting a compound annual growth rate of over 45% [2][12] AI Applications and Innovations - The 2025 AI conference showcased over 40 large models, with significant updates from major companies like Alibaba, SenseTime, and China Mobile, focusing on model upgrades and applications [1][20] - Kingsoft's WPS AI 3.0 version emphasizes AI PPT and personal knowledge base features, enhancing user experience through improved document interaction and real-time modifications [1][29][30] Market Trends and Future Outlook - The AI sector is transitioning into a multi-agent collaboration phase, where complex task planning and iterative reflection are becoming standard practices [1][37] - The evolution of enterprise AI is expected to significantly alter business models, moving towards performance-based pricing structures and revenue-sharing models [1][38] Recommendations for Investment - When selecting ToB AI software companies, it is advisable to focus on firms with stable business development and significant future growth potential, such as Kingdee, Maifushi, Jingjie, and Xunfei Medical [1][39]