Huatai Securities suggests focusing on domestic computing power chains and industrial chains related to space computing power construction. The brokerage said that it has observed new developments in domestic computing power and space computing power: in terms of domestic computing power, Ali released financial reports for the second quarter of fiscal year 2026, and Alibaba Cloud's quarterly revenue increased 34% year-on-year, exceeding expectations, and the company may add additional investment to the 380 billion yuan investment previously proposed; DeepSeek's new open source model, DeepSeek- MathV2, has significantly improved mathematical reasoning capabilities; in terms of space computing power, Beijing plans to build and operate a centralized large-scale data center system with more than gigawatts of power in the 700-800 km morning orbit to achieve Massive AI computing power moved to space.

Huatai Securities suggests focusing on domestic computing power chains and industrial chains related to space computing power construction. The brokerage said that it has observed new developments in domestic computing power and space computing power: in terms of domestic computing power, Ali released financial reports for the second quarter of fiscal year 2026, and Alibaba Cloud's quarterly revenue increased 34% year-on-year, exceeding expectations, and the company may add additional investment to the 380 billion yuan investment previously proposed; DeepSeek's new open source model, DeepSeek- MathV2, has significantly improved mathematical reasoning capabilities; in terms of space computing power, Beijing plans to build and operate a centralized large-scale data center system with more than gigawatts of power in the 700-800 km morning orbit to achieve Massive AI computing power moved to space.