CITIC Securities: Physical AI is exploding; seize on-device investment opportunities from three angles
English text is being prepared.
A CITIC Securities research report states that attention on physical AI and on-device applications is rapidly heating up, with industry events such as OpenAI, NVIDIA GTC, and the Unitree Technology Ecosystem Conference serving as catalysts; combined with the sector's sufficient prior stock price correction and divergent expectations for the memory industry, these factors are jointly driving an explosive sector rally. The report holds that the core change in this round of narrative is the further strengthening of the link between model capabilities and terminal hardware, and recommends seizing on-device investment opportunities from three angles: robot capability upgrades, expanding demand for data collection, and on-device entry-point innovation.
Body
中信证券研报称，近期物理AI、端侧应用关注度迅速升温，OpenAI、英伟达GTC、宇树科技生态大会等产业事件催化、叠加板块前期股价调整较为充分、存储行业预期分歧共同推动板块行情爆发。考虑到本轮叙事的核心变化在于模型能力与终端硬件的联系进一步强化，建议从机器人能力升级、数据采集需求扩张和端侧入口创新三条线索把握端侧投资机遇，建议关注：一、主业经营稳健、兼有端侧产业链布局的龙头标的；二、端侧布局卡位突出、此前股价充分调整的弹性标的。