AI模组助力边缘AI发展

Investment Rating - Investment recommendation: Outperform the market (maintained) [4] Core Viewpoints - The future trend of AI is hybrid AI, where edge AI serves as a complement and extension to cloud AI, offering advantages such as cost reduction, lower network latency, and enhanced privacy and security [12][19][24] - AI modules are becoming the carriers of computing power required for edge AI, with penetration rates expected to rise rapidly. In 2023, the proportion of cellular IoT modules supporting AI functions is 2%, projected to increase to 9% by 2027, with a CAGR of 73% over four years [12][28] - Domestic leading manufacturers are actively laying out edge AI, keeping pace with the trend of AI development. Key players include Quectel, Gree, and Megvii [30][48] Summary by Sections 1. AI Modules Supporting Edge AI Development - Hybrid AI refers to the collaboration between edge and cloud computing, distributing AI workloads to provide better experiences and resource efficiency. Cost savings are a major driving factor for hybrid AI development [24][35] - AI PCs are a significant application area for edge AI, with expected shipments of 13 million units in 2024 and a penetration rate of 7%, increasing to 150 million units and 79% by 2027 [26][38] 2. Investment Recommendations: Focus on Core AI Module Targets - The report suggests focusing on leading domestic module manufacturers: Quectel, Gree, and Megvii, as AI modules possess high computing power that supports the development of edge AI [48][47]