Core Insights - The "2025 SparkS Global AI Hardware Innovation Competition" has been officially launched in Hangzhou, aiming to recruit AI hardware projects with commercial potential globally, focusing on "AI hardware" and "application scenarios" [1][3] - The competition is designed to connect global AI elites, industry resources, and investment institutions, creating a world-class AI innovation ecosystem that integrates technological innovation, industrial implementation, and capital connection [3][4] Group 1: Competition Overview - The competition is organized by the Hangzhou local government, Hangzhou Talent Group, Hangzhou Chuang (AI) Camp, and Tuya Smart, leveraging the city's AI industry resources [1] - It features five innovation tracks: AI + Life, AI + Business, AI + Industry, AI + Transportation, and AI + Social Governance, addressing the forefront applications of AI technology across various fields [3] Group 2: Developer Engagement - The competition has attracted significant attention from global AI developers, with Tuya Smart collaborating with popular digital influencer "He Tongxue" to create the "AI Cow Finder" smart hardware for farmers in remote areas [2] - Developers can utilize Tuya Smart's open-source framework and AIAgent development platform to rapidly prototype AI hardware solutions, exemplified by the "AI Cow Finder" project, which was developed in just one month [2] Group 3: Support and Resources - The competition will select 30 groundbreaking AI hardware innovation projects for the final round, with 10 projects receiving the "Outstanding Application Award" [3] - Winning teams will gain access to various support resources from the government and organizing institutions, including capital connection, technical empowerment, policy support, and practical implementation [3]

Core Viewpoint - Tuya Smart's mid-year financial report for 2025 highlights its robust operational data and financial performance, showcasing the deep integration of AI technology with the physical economy, as evidenced by a 14.7% year-on-year revenue growth and a net profit margin increase to 15.2% [2][3]. Revenue and Growth - The total revenue for Tuya Smart reached $154.8 million, reflecting a year-on-year growth of 14.7%, with all three business segments—PaaS, SaaS, and smart solutions—achieving double-digit growth [3]. - The shipment of products equipped with AI capabilities accounted for an impressive 93.05%, indicating that AI has transitioned from a conceptual exploration to a scalable application in the physical world [3][4]. Market Demand and AI Integration - The demand for AI features is evolving from optional to essential, with over 90% of shipments now incorporating AI as a core functionality rather than a marketing gimmick [3][4]. - Tuya's AI developer platform has facilitated over 150 million AI interactions daily, demonstrating the high frequency and depth of AI applications in everyday scenarios [4][6]. Developer Ecosystem and Innovation - The Tuya AI developer platform has registered over 1.514 million developers, a 15% increase from the end of 2024, and serves 4,100 global customers, indicating significant ecosystem vitality [8]. - Tuya's initiatives, such as the TuyaOpen framework, lower the barriers for AI hardware development, enabling a comprehensive innovation ecosystem from technical support to commercialization [10][12]. Commercialization and Market Strategy - Tuya has established a complete closed-loop from code to commercialization, accelerating product incubation and market promotion through partnerships and subsidy programs [13][19]. - The company is actively seeking investment opportunities in high-potential AI projects, providing comprehensive support across key development stages [18][19]. Future Outlook and Market Position - Tuya Smart is positioned to capitalize on the explosive growth of the AI hardware market, leveraging its dual-driven model of "technology platform + ecosystem co-construction" to drive large-scale innovation [20][24]. - The company’s ecosystem is becoming a foundational infrastructure for the Physical AI era, with a focus on enabling developers and fostering sustainable growth [24].