"From 4 seconds to 60 seconds", this is a revolutionary change brought about by Sora, a large model of Wensheng video released by OpenAI a few days ago. Its ability to generate 60 seconds of continuous video has greatly exceeded the average level of the industry that can only generate 4 seconds of video before.
The advent of Sora and its disruptive capabilities in the AIGC field have become one of the most important events that stirred up the global scientific and technological circles and investment circles in the New Year, and have quickly attracted a lot of attention and discussion in China. Recently, the State owned Assets Supervision and Administration Commission of the State Council held a special promotion meeting on AI for central enterprises to accelerate the integration of resources of central enterprises and promote domestic AI technology and ecological development.
In the domestic capital market, A-share continued to be popular after the festival, and the AI concept became the main leading sector. The market still remembers the AI boom driven by ChatGPT last year, and has formed a similar market trend to that at the beginning of 2023. However, in the view of professional institutions, the large models of cultural videos such as Sora provide greater imagination for the development of software and hardware in the AI industry chain.
IKEDA KAE, fund manager of AXA Puyin Global Intelligent Technology (QDII), believes that the cultural video model represented by Sora will have a significant impact on the industry in three directions. First, in the AIGC field, there will be significant changes in the way content is generated, which will have a profound impact on media, games and other industries; Secondly, the large model of Wensheng video has higher computing power requirements, which will promote the construction of AI infrastructure, and chip, computing, cloud computing and other industries will benefit from it; Finally, AI will promote the transformation of scientific and technological hardware. Mobile phones and PCs that combine AI functions will gradually become mature and popular, which is expected to bring about a new wave of machine changes.
Content production mode is renewed
Content propagation and technology superposition resonance
As the most direct field affected by the large model of liberal arts video, the production mode in the content field will probably achieve a breakthrough change.
Luo Wen, ETF of Shanghai, Hong Kong and Shenzhen Games and Cultural Media of SPDB AXA, said: "The launch of Sora is a milestone in the field of big models. High quality, long duration and high-precision video output has greatly improved the value of AIGC's industrial productivity. It is expected to enable multimodal content production represented by pictures and videos, and accelerate the upgrading of production efficiency at the content production end. Especially for the game, film and television, marketing and other industries, it will bring about long-term effects such as cost reduction and efficiency increase, lowering the industry threshold. "
Driven by various large models, the development of AIGC industry continues to accelerate. According to the prediction of iResearch, the scale of China's AIGC industry is expected to reach 720.2 billion yuan in 2028, which will complete the realization of technical value in key fields and scenarios, and gradually establish a perfect model, namely service industry ecology. It is expected that the scale of China's AIGC industry will break through to 1144.1 billion yuan in 2030.
What makes the market more hopeful is that the change of content transmission mode is resonating with the change of technology.
During the Spring Festival, an online short play with cross themes came out. According to the data of the short video platform, the daily subscription of the film exceeds 20 million, the play of dithering topics exceeds 400 million, and the number of likes of a single episode has exceeded 1.5 million, which represents that the short plays that have been popular in some network groups are gradually expanding from sinking markets to mainstream users. This kind of short play usually only lasts for 1-2 minutes per episode, and attracts users to subscribe by relying on the compact plot. The development of Wensheng video large model will undoubtedly reduce the production cycle and cost of such short videos, and have a significant impact on the short video industry.
High demand for computing power
Hardware independently brews new opportunities for domestic manufacturers
As a large model of liberal arts video, Sora has higher requirements for computing power. According to the calculation of the computer research team of Huaxi Securities, there is a gap of nearly 100 times between the training of Sora architecture and the training computing power of the traditional large language model (LLM) Transformer architecture, which will further promote the development and construction of AI infrastructure, especially various hardware equipment. (Source: Sora's Computing Power Doubles, Domestic Architecture+Ecological Rise - AIGC Industry Depth Report (12), West China Securities Research Institute, February 19, 2024)
At present, around the AI hardware field, GPU chips have become the focus of attention. Recently, the American GPU chip giant released the fourth quarter report of 2023. The report shows that thanks to AI driven computing power construction, its chip demand has increased significantly, and its revenue in fiscal year 2024 has increased by 126% to US $60.922 billion. In view of the high computing power demand of the new generation of large models, the market is generally optimistic about its future growth prospects. At the same time, its new generation of GPU chip B100 will have a more advanced technical level and be in a stage of short supply.
For practitioners in related industries in China, the hardware field now has greater development space and opportunities. Since the United States has continuously tightened its chip exports to China, the current GPU chips that can be imported into China are mainly customized H20 models, which cannot meet the needs of major domestic users. Users have turned to the new generation of Shengteng 910B chips launched by major domestic communication manufacturers, whose performance is considered to be comparable to the previous mainstream A100 chips.
However, overall, the hardware field, especially the AI chip field, is subject to many restrictions in China. In order to catch up with the world's advanced level, it is expected that in the short term, it will still focus on "follow strategy". Yu Jin, Deputy Director of the International Business Department of AXA SPDB Fund and Fund Manager of AXA SPDB Global Intelligent Technology (QDII), said: "The opportunity for domestic companies is that once a local breakthrough is formed, they may take advantage of the needs of the Chinese market to develop, which is an important investment opportunity."
Long term cultivation of AI field
SPDB AXA provides global investment layout scheme
This year, the layout of the AI field has become an important part for many investment institutions to grasp the market recovery opportunities at the beginning of the year. Based on years of hard work in TMT, semiconductor, information technology, game media and other industries, AXA SPDB Fund is also actively grasping the market wave led by AI technology.
At present, the investment tools of AXA Puyin in the AI field include AXA Puyin Global Intelligent Technology (QDII) jointly managed by Yu Jin and Shi Ping, AXA Puyin China Securities Shanghai Hong Kong Shenzhen Game and Cultural Media ETF managed by Luo Wen, and AXA Puyin Science and Technology Innovation Preferred Mix managed by Qin Wen, forming a coverage from active to passive, from on-site to off-site, from domestic to overseas A multi-level, global AI investment solution from software application layer to hardware.
Holding AI is not limited to AI. In the face of a new wave of AI investment wave brought by Sora, the AI investment solution of AXA Puyin focuses on mining securities with long-term growth dividends in the new era of scientific and technological revolution from the perspective of long-term investment and value investment, and becomes an important tool for investors to build a global multi-level investment in AI industry.
