CITIC Securities: Domestic models are accelerating iteration, and major companies are laying out the AI IDE track

2025-07-27 22:49:40

CICC pointed out that Ali Qwen model has been open sourced for three consecutive times, and Step Star's new generation of multimodal reasoning basic model Step3 has greatly improved reasoning efficiency, and the domestic model capabilities continue to improve. The overseas AI Coding track is hot. GitHub Copilot will achieve about 400 million ARR in December 2024, Cursor has exceeded 500 million ARR, and Windsurf will also exceed 100 million ARR in April 2025. Domestic Byte TRAE, Ali Tong Yi Ling Ma AI IDE, Tencent CodeBuddy IDE and other major manufacturers' products have entered the AI IDE track, which is expected to drive the improvement of domestic model API calls. Byte open sourced Coze on July 26, and domestic AI application scenarios are expected to accelerate.

AR AI Tencent

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