CSC Financial: Focus on physical AI data and simulation, AI security, domestic chips and super nodes, and computing power services
English text is being prepared.
CSC Financial's research report suggests focusing on physical AI data and simulation, AI security, domestic chips and super nodes, and computing power services. Cambricon and Hygon posted revenue growth in Q3 with gross margins improving quarter-on-quarter; rents for some domestic configurations and overseas high-end GPUs are rising, and the computing power services boom continues. General-purpose large models working in tandem with execution frameworks enhance robot manipulation capabilities, while the PHP vulnerability and LiteLLM supply chain incident highlight the need for exploit mitigation, credential management, and runtime protection.
Body
中信建投研报表示，寒武纪、海光三季度收入增长，毛利率环比提升；国内部分配置及海外高端GPU租金上行，算力服务景气延续。通用大模型与执行框架协同提升机器人操作能力，头部厂商推进产能建设，高质量交互数据、仿真合成及评测体系建设有望扩大物理AI产业需求。PHP漏洞和LiteLLM供应链事件凸显漏洞利用、凭证管理及运行时防护需求，模型公司推进代码验证与执行隔离，推动AI安全产品落地。关注物理AI数据与仿真、AI安全、国产芯片与超节点及算力服务等方向。