Core Viewpoint - The rise of large models has created significant opportunities for AI infrastructure (AI Infra) professionals, marking a pivotal moment for the industry [7][10][78]. Group 1: Understanding AI Infra - AI Infra encompasses both hardware and software components, with hardware including AI chips, GPUs, and switches, while software can be categorized into three layers: IaaS, PaaS, and an optimization layer for training and inference frameworks [3][4][5]. - The current demand for AI Infra is driven by the unprecedented requirements for computing power and data processing brought about by large models, similar to the early days of search engines [10][11]. Group 2: Talent and Industry Dynamics - The industry is witnessing a shift where both new engineers and traditional Infra professionals are needed, as the field emphasizes accumulated knowledge and experience [14]. - The success of AI Infra professionals is increasingly recognized, as they play a crucial role in optimizing model performance and reducing costs [78][81]. Group 3: Performance Metrics and Optimization - Key performance indicators for AI Infra include model response latency, data processing efficiency per GPU, and overall cost reduction [15][36]. - The optimization of AI Infra can lead to significant cost savings, as demonstrated by the example of improving GPU utilization [18][19]. Group 4: Market Opportunities and Challenges - Third-party companies can provide value by offering API marketplaces, but they must differentiate themselves to avoid being overshadowed by cloud providers and model companies [22][24]. - The integration of hardware and model development is essential for creating competitive advantages in the AI Infra space [25][30]. Group 5: Future Trends and Innovations - The future of AI models may see breakthroughs in multi-modal capabilities, with the potential for significant cost reductions in model training and inference [63][77]. - Open-source models are expected to drive advancements in AI Infra, although there is a risk of stifling innovation if too much focus is placed on optimizing existing models [69][70]. Group 6: Recommendations for Professionals - Professionals in AI Infra should aim to closely align with either model development or hardware design to maximize their impact and opportunities in the industry [82].

Core Viewpoint - The launch of the "Coexist with AI" short film creation competition by iQIYI aims to encourage global creators to explore the potential of AI in video creation, leveraging advanced AI tools like Google Veo 3 and Seedance 1.0 pro to enhance creativity and efficiency in content production [1][3][10]. Group 1: Competition Overview - The competition is open to global creators aged 18 and above, allowing individual or team participation with a maximum of five members [4][12]. - Submissions must be short films ranging from 1 to 5 minutes, with a minimum resolution of 1920×1080 and must include both Chinese and English subtitles [4][13]. - At least 70% of the content must utilize the specified AI tools, either Google Veo 3 or Seedance 1.0 pro [4][13]. Group 2: Timeline and Evaluation - The competition timeline includes a submission period from July 15 to September 30, followed by initial reviews from October 1 to October 15, and final evaluations from October 16 to October 30, with results announced in November [5][11]. - The evaluation process consists of an initial review for compliance and a final expert review, with judges from various academic and industry backgrounds assessing creativity, AI application, production quality, and originality [2][5]. Group 3: Awards and Support - Awards include a grand prize of $3,000 for the first place, $1,500 for second place, and $600 for third place, along with additional awards for creativity and narrative excellence [5][6]. - iQIYI provides comprehensive support for participants, including a dedicated communication channel for queries, training sessions with AI experts, and compliance guidance to ensure submissions meet copyright and technical standards [6][10].

Investment Rating - The report maintains a "Recommendation" rating for the computer industry, expecting the industry index to rise more than 5% over the next 3-6 months compared to the benchmark index [3][38]. Core Insights - The computer sector experienced a decline in the week of June 16-20, with the CITIC computer index dropping by 1.87%, the ChiNext index down by 1.66%, and the Shanghai Composite index falling by 0.51% [9][16]. - The report highlights the rapid advancements in AI, particularly in multimodal models, with significant developments from Google and Meta, indicating a promising future for the industry [9][20][23]. - The report notes that the market's focus is shifting from technology themes to performance realization and rapid industrial transformation as companies begin to disclose their earnings [9][12]. Summary by Sections Industry Weekly Viewpoint - The report discusses the performance of the computer sector, noting the top gainers and losers during the week, with notable increases in stocks like Chutianlong (up 36.59%) and Sifang Jingchuang (up 29.21%) [9][16]. - It emphasizes the ongoing innovations in AI, particularly the introduction of multimodal products that integrate visual and audio elements, which are gaining traction in the market [9][12]. Weekly Market Review - The report provides a detailed review of the market performance for the week, highlighting the overall decline in major indices and the net outflow of funds from the computer sector [16][19]. Funding Situation Review - The report indicates a total net outflow of 270 billion from all A-shares, with the computer sector experiencing a net outflow of 21 billion [19]. Progress in Multimodal Models - The report details the advancements in AI models, particularly Google's Veo 3 and Meta's Llama 4, which have achieved significant breakthroughs in video generation and multimodal capabilities [20][23]. - Veo 3 is noted for its ability to synchronize audio and visual elements seamlessly, while Llama 4 boasts a massive parameter scale and enhanced multimodal integration [20][23]. Investment Recommendations and Beneficiary Targets - The report suggests focusing on AI enterprise services and application scenarios, listing specific companies across various sectors such as office software, finance, education, and healthcare that are expected to benefit from these advancements [12][25].