Cambricon has been included in the sse 50 index, attracting significant market attention. Recently, many AI concept stocks favored by funds in the secondary market are facing challenges such as low revenue and uncertainties. Is this a bubble or the stirring of an industrial transformation? Journalists interviewed several industry insiders, and respondents generally agree with the determination that 'AI is not a bubble.' They also believe that represented by large model technology, the market is entering a rational phase, shifting from the 'hundred models battle' to reflecting on how to expand technological boundaries and promote the commercialization of AIGC. In this process, represented by asia vets, large models are linking together, and multiple scenarios will support an unprecedented explosion of AI applications. However, it is undeniable that as various participants flood in, competition is becoming increasingly fierce, reflecting the growing commercialization pressure on some practitioners in AI applications. Looking ahead from this new starting line, the large model track is undergoing a transformation from 'atom bomb' to 'tea egg,' and a reshuffling year may begin, with some platforms possibly fading from the stage. Meanwhile, upstream industry chains such as ai chips will continue to face long cycles, high intensity, and high costs in the long term, and both technological updates and cash / money market operations must be approached with caution. (Securities Times)