CITIC Securities: Value the opportunities in data chain and integrated AI infrastructure in both software and hardware.

The research report of CITIC Securities stated that in the context of reshaping the traditional software development process with large models, the position of databases as the AI infrastructure of software layer is irreplaceable; integrated infrastructure companies providing computing hardware and computing scheduling service software deserve attention; at the same time, as an industry accompanying large models, companies engaged in data collection, annotation, cleaning, upper layer applications, and knowledge graph development are expected to usher in project breakthrough opportunities. It is recommended to focus on companies in the database, integrated infrastructure, and data service industry chain.