According to a research report from CITIC Construction Investment, on September 18th, Zhipu unveiled its GLM-5.3-FlashX model, which achieved significantly enhanced reasoning efficiency, thanks to the backing of a domestic computing power cluster. Concurrently, the Annual Recurring Revenue (ARR) projection for the end of 2026 was revised upwards from $2.4 billion to $3 billion, underscoring the swift commercialization trajectory of China’s large-scale AI models.

In the international arena, Nebius announced a substantial 17% to 21% hike in GPU cloud leasing fees. Meanwhile, Marvell and GlobalFoundries have outlined plans to ramp up production of AI high-speed optical interconnect chips. Furthermore, NVIDIA CEO Jensen Huang has expressed optimism, forecasting that by 2027, NVIDIA’s chip sales will double compared to current levels.

CITIC Construction Investment maintains a bullish stance on the sustained strong demand for AI training, inference, and infrastructure, both domestically and globally. The firm remains confident in the growth prospects of China’s large-scale AI models and the broader computing power industry ecosystem, encompassing GPUs, ASICs, optical modules, high-end PCBs, servers, and liquid cooling solutions.