Guotai Junan Securities: Maintain a "buy" rating on the computer sector, accelerating the integration of advanced models into the underlying ecosystem.

Guotai Haitong released a research report stating that it maintains a "buy" rating on the computer sector. The National Development and Reform Commission has increased investment in "AI+" infrastructure, leading to a surge in prices for computing power and large models by domestic and foreign giants. This verifies that controlling scarce high-end computing power and premium rights has become a new competitive focus in the industry. DeepSeek has started financing to advance the migration of V4 hardware and update the underlying Mega MoE, leading the AI competition into a period of independent ecological development and hardware and software restructuring. Anthropic has released the flagship model Claude Opus 4.7, accelerating its evolution towards a full-stack AI application ecosystem, leveraging its asymmetrical advantages in models to achieve deep compression at the third-party application layer.