Global AI investment enters a new stage: from computing power competition to application ecosystem construction
Bank of America analysts recently pointed out that the development of Chinese AI companies such as DeepSeek is accelerating the upgrading of global investment and application in the field of artificial intelligence. The continued growth of AI capital expenditures (Capex) by technology giants in China and the United States shows that the industry focus has shifted from pure “computing power training” to “application landing” and “ecosystem construction”.
China and the United States simultaneously increase infrastructure, and self-developed AI by enterprises has become a trend
Analysts emphasize that both the United States (such as AWS, Google, Microsoft and other cloud service providers) and China (Alibaba, Tencent and other large companies) are expanding AI-related capital investment. As deep learning technology enters the “post-training stage”, companies are turning their attention to hardware upgrades (such as H AI) and actual application scenario development. In the past two years, computing power investment has focused on model training, and in the future, open source technology will be used to lower the entry threshold, drive more medium-sized companies (such as “billion-dollar companies”) to develop customized AI solutions, and promote the overall application of the industry.
Open source ecology reconstructs the supply chain, NVIDIA leads but challenges intensify
In recent industry activities synchronized with NVIDIA’s GTC conference, the new generation of AI chip architecture GB300 and Blackwell Ultra have become the focus. Analysts pointed out that higher data training needs will continue to push up computing power requirements, but the market structure is facing reconstruction: although NVIDIA still dominates the AI chip market, giants such as Microsoft, Amazon, and Google are strengthening their competitiveness by developing their own chips and building independent ecosystems. This trend has driven the continued activity of the global supply chain (especially in Taiwan from upstream semiconductors to downstream foundries), further releasing the industry’s growth potential.
Future Outlook: AI Application Explosion and Ecological Competition
Analysts concluded that a “dynamic balance” has been formed in the AI field – large companies control the ecosystem through vertical integration, while open source technology enables small and medium-sized players to enter the market. With the all-round layout of Chinese and American companies in chip research and development, cloud computing services, and industry applications, AI technology will further penetrate into scenarios such as finance, medical care, and manufacturing, accelerating the leap from laboratory to industrialization. The main battlefield of industry competition is shifting from hardware computing power to “actual value creation” and the competition for ecological discourse power.
(Note: This article is based on public conversations with Bank of America analysts, and its core views focus on technology iteration, investment trends, and industry landscape evolution.)
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