Fund Manager: AI is gradually entering the explosive application phase of the second half

Since the beginning of this year, AI has been entering a virtuous cycle from computing power investment to cloud service consumption, then to commercialization revenue, and finally back to computing power reinvestment, with the scaling of AI applications being the key to driving this flywheel effect. On July 31, the State Council's executive meeting reviewed and approved the "Opinions on Deepening the Implementation of the 'Artificial Intelligence+' Action," proposing to deeply implement the "Artificial Intelligence+" action and vigorously promote the large-scale commercialization of AI applications. Several interviewed fund managers believe that although computing power is the leading indicator of the AI industry, starting this year, AI will enter a new stage of commercial closed-loop, with numerous AI applications both domestically and internationally accelerating their scaling, driving a surge in token usage, and the core product's ARR slope becoming steeper, as AI gradually enters the application explosion stage in the second half