Northeast Securities: Domestic AI large models and computing power form a positive cycle

Sina Financial News Northeast Securities Research Report pointed out that Kimi has driven domestic AI large models including Ali Tongyi Qianwen, Baidu Wenxin Yiyan, 360 Zhibrain, etc., to announce the launch or is expected to launch their own long text models, and a series of domestic applications based on large models are expected to usher in an explosion of capabilities after accessing Kimi. At the same time, Kimi announced that it will be open to all compliant developers, which will inevitably put pressure on the already scarce computing resources, and then promote the formation of a positive cycle between domestic AI large models and computing power. At the same time, as the first quarterly report approaches, the market has begun to gradually pay attention to the direction of real growth and performance this year.