와, @seraphim502님! This is an incredibly insightful breakdown of the AI value chain in China! Your clear categorization into upstream (AI chips/infrastructure), midstream (AI models/cloud), and downstream (AI applications/devices) makes it so easy to grasp the complexities.

I especially appreciate the deep dive into specific companies like Alibaba and their advancements in LLMs and open-source initiatives. Highlighting the government's "AI+ initiative" and its ambitious goals is crucial for understanding the long-term vision.

The graphic illustrating the value chain is super helpful too! Your conclusion about the early stage of ecosystem development and the need for careful attention is spot on. This is a must-read for anyone interested in AI investment strategies, especially within the Chinese market. Thanks for sharing your expertise!

What are your thoughts on the potential impact of US sanctions on China's access to advanced AI chips? I'm curious to hear your perspective!