~Xiaomi-W (01810.HK) saw its stock price surge this morning, currently reported at 34.4 HKD, up 5%, with a transaction volume of 5.5 billion HKD. According to a report from domestic Brokerage Kainuo Securities, as reported by Jiemian News, Xiaomi is working on building a GPU cluster with a scale of 10,000 cards, heavily investing in AI large models. The Xiaomi large model team initially had 6,500 GPU resources. According to Xiaomi's 2023 annual speech, the main breakthrough directions for Xiaomi's large model technology are Lightweight and local deployment. On November 12, Xiaomi's second-generation large model MiLM2 was officially unveiled, with a minimum parameter scale of 0.3B and a maximum of 30B, combining cloud and edge to continuously enrich the parameter matrix suitable for different scenarios. The second-generation language model has improved by over 45% on average across ten capability dimensions compared to the first-generation model, and supports three inference acceleration schemes for edge-side deployment.
The report indicates that domestic Internet companies are heavily investing in computing power, with significant growth in capital expenditure. There is strong demand for AI smart computing from end customers, prompting Internet companies to intensify their procurement of AI infrastructure such as AIDC and Servers. The total capital expenditure of BAT (Baidu (09888.HK), Alibaba-W (09988.HK), Tencent (00700.HK)) in the first three quarters of 2024 was 86.721 billion RMB, an annual increase of 119.0%. The total capital expenditure in the third quarter of this year was 36.23 billion RMB, with an annual growth of 117.15% and a quarterly growth of 57.93%.
In terms of server capital expenditure for 2024, according to Omida data, the Global server capital expenditure is about 229 billion USD, including ByteDance's capital expenditure of about 8 billion USD, Tencent's about 6 billion USD, and Alibaba's about 3 billion USD. Internet companies continue to invest in the construction of computing power infrastructure.
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