The Ping An Securities Research Report pointed out that currently, competition in the field of large models is still heated around the world, and this will continue to raise the overall capability level of big models. Large models require large computing power, and iterative upgrades of large model algorithms will provide a strong impetus for the growth of the global and Chinese AI computing power market. China's domestic AI chip industry chain will mature at an accelerated pace, and related AI chip and server manufacturers will benefit deeply. Furthermore, on the application side, China's domestic large-scale model capabilities continue to be upgraded, and the future development prospects of the AIGC industry are broad. Target aspects: 1) In terms of computing power, I recommend Inspur Information, Zhongke Shuguang, etc.; 2) in terms of algorithms, I recommend iFLYZ; 3) in terms of application scenarios, I recommend Jinshan Office, Hang Seng Electronics, etc.; 4) In terms of network security, I recommend Kai Mingchen, etc.