CITIC Securities: Leading enterprises continue to increase capital input in the field of artificial intelligence, and the AI cloud service industry is expected to maintain high prosperity.

CITIC Securities research report stated that recently OpenClaw has upgraded from a popular open-source tool to a phenomenon-level AI product. With the rapid growth of stars on GitHub, massive visitors, and over 5000 derivative plugins, it has built a high-stickiness developer ecosystem. This has also led to cloud vendors offering customized packaging services, completely changing the original billing model. At the same time, this product has driven exponential growth in the consumption of tokens for intelligent body scenarios, leading to a sharp increase in computational costs. Major cloud vendors and AI platforms around the world have implemented measures such as price increases and access restrictions, resulting in significant increases in AI computational and storage products both domestically and internationally. Looking at the latest financial reports, the performance of the top domestic cloud vendors continues to improve, with Alibaba Cloud and Tencent Cloud showing impressive growth rates and profitability. Kingsoft Cloud and Wan Guo Data have also achieved revenue growth by relying on smart computing demand. Top companies are also increasing their capital investment in the AI field, and the AI cloud service industry is expected to maintain a high level of prosperity.