CITIC Securities: The AI industry chain is expected to continue to accelerate and usher in a new round of investment opportunities.

CICC Securities research report stated that NVIDIA will resume H20 sales, coupled with the rapid development of the next generation of system-level computing power, injecting more confidence into the development of the domestic AI industry chain. Progress continues to be made with models like Kimi K2 and Grok 4, while ChatGPT Agent leads application innovation, and prospects for the progress of next-generation model applications are promising. With expected increased policy support, it will promote the continuous prosperity of the AI industry chain. With multiple forces resonating, the AI industry chain is expected to continue to accelerate, ushering in a new round of investment opportunities.