Citic Securities: Focusing on AI Computing Chips, HBM, AI Network Devices, IDC, Basic and Applied Software, Internet Services, etc.
AI Business News, Citic Securities indicated that OpenAI has recently released GPT-5, sparking market attention. This model's inference capabilities have significantly improved, not only scoring higher than previous flagship models in general scenarios but also achieving the lowest error rate of 0.7% in hallucination testing; its pricing is comparable to Gemini 2.5 Pro and other mainstream models, with a significant increase in value for money. Moreover, GPT-5 has shown decent performance in niche scenarios such as programming and medicine, exhibiting good potential for scene expansion. We believe that the rapid updates and iterations by OpenAI and similar model manufacturers have been influenced by: tech giants' arms race in the forefront of model development, continuous explosive growth in computing power driven by scaling laws and multimodal approaches, and enhanced inference capabilities unlocking possibilities for complex application scenarios. In the US technology sector, we recommend continuing to focus on AI applications and key areas such as basic infrastructure, AI network devices, IDC, basic and applied software, and internet services.
Daily Economic News