CITIC Construction Investment: Domestic models accelerate iteration, major companies layout AI IDE track

Zhitong
2025.07.27 15:00

CITIC Construction Investment pointed out that Alibaba's Qwen model has been open-sourced three times in a row, and the new generation multimodal reasoning foundation model Step3 of Jietiao Xingchen significantly improves reasoning efficiency, with domestic model capabilities continuously rising. The overseas AI coding track is heating up, with GitHub Copilot expected to achieve approximately $400 million ARR by December 2024, Cursor has surpassed $500 million ARR, and Windsurf is also expected to exceed $100 million ARR by April 2025. Domestic major products such as ByteDance's TRAE, Alibaba's Tongyi Lingma AI IDE, and Tencent's CodeBuddy IDE have entered the AI IDE track, which is expected to drive the increase in domestic model API calls. ByteDance open-sourced Coze on July 26, and domestic AI application scenarios are expected to accelerate

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