CITIC Securities: It is expected that the shipment volume of domestic computing power chips will at least double by 2026.

The report from CITIC Securities pointed out that the explosion of applications such as Agent& multimodal is driving a surge in Token calls, leading to a shortage of domestic computing power. The active adaptation of domestic large models in the inference end will bring accelerated volume opportunities to domestic computing power manufacturers. We predict that the shipment volume of domestic computing power chips will at least double by 2026, bringing strong growth momentum to computing power design companies, advanced manufacturing processes, advanced packaging, advanced storage, and supporting industry chains.