CITIC Securities notes that, despite the limited visibility regarding the large-scale commercialization of AI applications, there has been a recent flurry of intensive releases of AI models and applications overseas. This trend has fueled a steady increase in the usage volume of the most fundamental Tokens. CITIC Securities is of the opinion that the overseas demand for computing power is poised to sustain its growth trajectory. Against the backdrop of the current macroeconomic climate, investment prospects are more likely to materialize in sectors where the AI market trend drives significant enhancements in earnings per share (EPS). CITIC Securities forecasts that, over the forthcoming 3 to 6 months, the overseas computing power chain is set to rebound into a relatively optimistic phase. Taking into account the present rate of industrial advancement and model iteration, it is advisable to concentrate on investment opportunities within the overseas computing power chain that are propelled by the escalating demand for computing power.