China's daily average token call volume exceeds 140 trillion; computing power leasing surges in the afternoon, Lotus Holdings hits the 2nd limit-up in 4 days

(Source: Caiwen)

          The National Bureau of Statistics stated that in early 2024, China's average daily Token calls will reach 100 billion; by the end of 2025, it will soar to 100 trillion; in March of this year, it has already surpassed 140 trillion, growing over a thousand times in two years.            

On March 24, the concept of computing power leasing surged in the afternoon, and by the close, constituent stocks such as Jinkaixineng (600821.SH), Lianhua Holdings (600186.SH), Zhenshitong (002771.SZ), and Aored (600666.SH) hit the daily limit, while Lian Technology (300603.SZ), Pinggao Co. (688227.SH), Meili Cloud (000815.SZ), Maixinlin (688685.SH), Jiahua Technology (688051.SH), and Hongbo Co. (002229.SZ) also rose.

In terms of news, the National Bureau of Statistics stated that in early 2024, China’s average daily Token calls will reach 100 billion; by the end of 2025, it will soar to 100 trillion; in March of this year, it has already surpassed 140 trillion, growing over a thousand times in two years.

Additionally, recently, Tencent Cloud, Alibaba Cloud, and Baidu Intelligent Cloud have announced price increases for AI computing power and related services. Tencent Cloud terminated the free public testing of three popular AI models on March 13 and significantly adjusted the billing standards for the Hongyuan series of models, with some services increasing by over 4 times; Alibaba Cloud and Baidu Intelligent Cloud are scheduled to implement price adjustments effective April 18, with the former increasing prices for its own computing power cards and intelligent computing storage by 5%–34% and 30% respectively, and the latter increasing prices for AI computing services and parallel file storage by 5%–30%.

In the international market, Amazon AWS has increased prices for computing power products dedicated to large model training by about 15% starting January 2026; Google Cloud plans to raise prices for data transmission services globally starting in May, with increases in North America reaching up to 100%, and 42% and 60% in Asia and Europe respectively. The reasons for the price increases are highly consistent, all pointing to an explosion in demand for AI computing power and the continuous rise in costs for hardware, energy, and network operations.

Industrial Securities pointed out that leading domestic technology companies are continuously increasing capital expenditures and accelerating the iteration of local large models, driving the performance of domestic chips to improve, collectively building an autonomous and controllable domestic ecology. As AI fully penetrates terminal scenarios as the main line, domestic operators and cloud vendors are expected to continue to increase capital expenditures, and the domestic substitution of the chip industry is expected to deepen, with domestic computing power manufacturers and upstream semiconductor equipment materials still having broad growth potential.

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