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Recently, the technology sector has become one of the most dynamic sectors in A-shares and Hong Kong stocks. Zuo Shaoyi, fund manager of the technology group of Noah Fund, believes that the technology sector market in 2025 is still optimistic. There may be twists and turns, but the trend will not change. Zuo Shaoyi believes that the cost reduction of artificial intelligence is driving AR glasses, service robots, etc. into the consumer market; the large models on the application side are deeply integrated into industries such as intelligent driving, and new technology infrastructure and information innovation are also directions worthy of attention in the future. The computing power competition caused by large model training is the key to the development of the global technology industry. It reduces the cost of training and using large models, brings benefits to smart terminals and software applications, and "vehicle-road-cloud integration" is a necessary condition for the further development of intelligent driving. Zuo Shaoyi emphasized that domestic large models are also integrated into multiple fields such as finance and medical care, and intelligent upgrades are achieved through customized development, promoting the coordinated development of industry standards and application ecology. Future investment will focus on smart terminals and applications, paying attention to the reduction of computing power costs, large model upgrades and iterations, and enabling industry progress at low cost.
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