Guoyuan: Continuous landing of AI business applications, highlighting the value of domestic models.

Guoyuan released a research report stating that in the recent period, the application of artificial intelligence technology continues to land, and the value of domestic large models continues to be evident. When will Chinese large models reach the level of Anthropic Fable: Musk expects Q1 next year, KNOWLEDGE ATLAS Tang Jie says it won't take that long. The firm recommends continuing to pay attention to the latest developments in the application of artificial intelligence, especially for listed companies with relevant technological and user ecosystem advantages that can fully benefit from downstream enterprise AI deployment efficiency. Guoyuan's main points are as follows: Large Model Enterprises Minimax launched the new model M3; KNOWLEDGE ATLAS: recommends issuing A shares and listing on the Science and Technology Innovation Board; Anthropic secretly submitted a prospectus; OpenAI officially announced the submission of IPO application documents; Anthropic Fable 5 was forced to go offline by the US government four days after its release; DeepSeek's first round of external financing was completed; KNOWLEDGE ATLAS GLM-5.2 model was launched and open-sourced: focusing on coding and long-range tasks; KNOWLEDGE ATLAS GLM-5.2 model ranked among the top open-source models SOTA; when can Chinese large models reach the level of Anthropic Fable: Musk expects Q1 next year, KNOWLEDGE ATLAS Tang Jie says it won't take that long; OpenAI released a preview of GPT-5.6, with evaluations surpassing Claude; several DeepSeek users received price adjustment emails: the price of the V4 official version will double during peak periods; the US lifted export controls on Anthropic's two flagship AI models. Basic Computing Power Infrastructure Huang Renxun's COMPUTEX speech, NVIDIA's comprehensive Agent reorganization; Chen Liwu's COMPUTEX speech, Intel's 18A full-scale production of new products; NVIDIA and SK Hynix announced a long-term technology partnership to jointly develop the next generation of AI memory; Google placed an order for more than 3 million TPUs from Intel; NVIDIA conducted its first bond sale in five years; SK Hynix began supplying samples of 12-layer HBM4E; OpenAI released its first self-developed AI chip, with tape-outs completed in nine months. Artificial Intelligence Applications OpenAI officially announced its entry into the Siasun Robot & Automation track; OpenAI held an "AI Employment" press conference; NVIDIA launched Hermes Agent with NemoClaw for enterprise deployment; OpenClaw achieved Windows native access, added Skill Workshop and Job Board; Bean Bundle Professional Edition officially released: starting at $68 per month; Cursor and OpenClaw released mobile versions on the same day, entering the mobile market; Hermes launched MoA hybrid intelligence, surpassing Opus 4.8 and GPT-5.5 in ratings; Anthropic released Claude Science: AI begins to take over the research pipeline. Policy Regulations and Security Claude experienced a widespread outage, raising concerns about potential leakage due to failure of cross-tenant isolation; Ministry of Industry and Information Technology: Deeply implement the "Artificial Intelligence + Manufacturing" special action, thoroughly rectify "inward competition" practices; Shanghai Stock Exchange publishes the fifth set of listing standards review guidelines for Science and Technology Innovation Board applicable to large artificial intelligence model enterprises; South Korean President Lee Jae myung announces "Three Major Super Projects". Risk Warning Risks of large model technology iterations falling behind expectations; Risks of artificial intelligence infrastructure demand falling short of expectations; Risks of artificial intelligence technology applications falling short of expectations; Risks of macroeconomic performance falling short of expectations; Risks of intensified industry competition; Risks of policy implementation falling short of expectations.