AI Hardware Investment Value In-Depth Analysis: Explosive Potential Driven by Technological Iteration and Market Demand

AI hardware is ushering in a new round of technological iteration and market explosion, with AR/VR hardware and edge computing chips being the two most valuable investment segments. By 2025, the global market size for VR/AR terminal hardware is expected to approach 180 billion yuan, with AR devices growing at a staggering 103.4%, and the edge computing hardware market is projected to reach 198.768 billion yuan, with a compound annual growth rate exceeding 46% . In the A-share market, core companies such as Goertek, Cambricon, and Lens Technology have formed differentiated competitive advantages. It is expected that in the next 3-5 years, as technology matures and demand is released, these companies will gain significant growth dividends. However, investors should be wary of potential challenges such as high valuation correction risks, supply chain fluctuations, and customer concentration.

1. Overview of the AI Hardware Industry Chain and Technological Development Trends

The AI hardware industry chain has formed a complete “cloud-edge-end” architecture, with upstream including core components such as chip design, sensors, and optical elements; midstream covering complete machine manufacturing, system integration, and software adaptation; and downstream extending to application scenarios in consumer electronics, industrial manufacturing, and healthcare. Each link in this industry chain shows a clear trend of domestic substitution, especially in the fields of chips and sensors, where Chinese manufacturers are accelerating breakthroughs in technological bottlenecks..

From the perspective of technological development trends, AI hardware is undergoing three key transformations:

First is the low-power high-performance transformation of edge computing chips. Cambricon’s SiYuan 220 chip adopts the MLUv02 architecture, achieving a maximum performance of 32TOPS, while consuming only 10W, providing solutions for low-power scenarios such as smart glasses and IoT terminals. Rockchip’s SoC chips are also widely used in educational tablets, AI toys, and other terminal devices, supporting the deployment of large AI models on the edge. [6] These technological breakthroughs enable AI hardware to break through the traditional limitation of “only speaking without acting,” transforming from “I say, AI answers” to “I say, AI does.”

Secondly, there is a breakthrough in AR/VR optical display technology. Goertek mass-produced the world’s first folding optical path module in 2019, and in 2020, it was the first to introduce an automated nano-imprinting production line, establishing the first domestic mass production line for diffractive waveguides, providing key technical support for AR glasses. [10] Lens Technology has become a core supplier for Apple’s Vision Pro with its exclusive glass cover technology, significantly raising the technical barrier.

Advancements in optical display technology allow AR/VR devices to provide a more immersive experience, laying the foundation for consumer applications of AI hardware.

Thirdly, there is the integration of cloud-edge-end architecture in AI chip design. Cambricon has built a complete product matrix covering cloud, edge, and end, with the SiYuan 590 chip’s performance approaching 70% of NVIDIA’s A100, at only 60% of the cost, demonstrating significant cost-performance advantages. [25] Its new generation processor microarchitecture and software platform iterations further enhance the applicability and compatibility of AI chips.This integrated cloud-edge-end technology architecture allows AI hardware to adapt to the needs of different scenarios, penetrating from data centers to consumer terminals..

2. Market Prospects and Growth Potential Assessment of Various Segments

Through an in-depth analysis of various segments of AI hardware, we can clearly see significant differences in market prospects and growth potential:

The AR/VR hardware market is experiencing explosive growth. According to IDC data, the total global investment in AR/VR reached nearly $14.67 billion in 2021, and is expected to grow to $74.73 billion by 2026, with a compound annual growth rate of 38.5%. Among them, the five-year compound growth rate in the Chinese market is expected to reach 43.8%, ranking first globally. [10] By 2025, the market size for VR/AR terminal hardware in China is expected to approach 180 billion yuan, with the downstream application service market size not less than 120 billion yuan. In terms of shipment volume, from 2020 to 2025, the shipment of VR/AR terminal hardware in China is expected to grow from about 4 million units to nearly 60 million units, with AR devices experiencing an average annual compound growth rate of 103.4% .

The main drivers of growth in the AR/VR hardware market come from three aspects: first is consumer applications, such as immersive experience demands in gaming, socializing, and education; second is enterprise applications, such as industrial training, remote collaboration, and medical education; third is technological breakthroughs, such as the maturity of key technologies like waveguides, cloud rendering, and gesture tracking. . The most valuable investment direction in this market is AR hardware, due to its broader application scenarios and higher growth potential, with more significant technological breakthroughs..

The edge computing hardware market also has broad prospects. In 2021, China’s edge computing market size reached 42.79 billion yuan, with the edge hardware market size at 28.17 billion yuan, and the edge software and services market size reaching 14.62 billion yuan. According to predictions from EEO Intelligence, the compound annual growth rate of China’s edge computing industry market size from 2021 to 2025 will reach 46.81%, and by 2025, the overall size of the edge computing market is expected to reach 198.768 billion yuan. .

The core drivers of growth in edge computing include: first is the popularization of 5G networks, providing high-speed, low-latency network infrastructure for edge computing; second is the development of the industrial internet, with a surge in manufacturing demand for real-time data processing and intelligent decision-making; third is the deployment of large AI models, which require support from edge computing chips. The most valuable investment direction in this market is edge computing chips, especially AI chip design companies with domestic substitution capabilities..

AI glasses, as an important branch of AR hardware, have particularly prominent market potential. By 2025, the global smart glasses market size is expected to be about $4.85 billion (approximately 34.5 billion yuan), and is projected to reach $16 billion (115.2 billion yuan) by 2026, with a compound growth rate of 18.5%. Although domestic technology is still in its infancy, companies like Huawei and Meta are accelerating their layouts, with clear application demands in healthcare, AR/VR, and industrial fields in the future. AI glasses will become an important entry point for consumer-grade AI hardware, with growth potential far exceeding that of traditional AR/VR devices..

In contrast, AI adult industry equipment terminals face significant policy risks and ethical controversies. California has legislated to prohibit AI chatbots from discussing pornographic content (effective in 2026), and while OpenAI plans to open adult content, it requires a strict age verification system. [2] The domestic regulatory environment may become stricter, and this direction faces legal and ethical barriers, with limited short-term explosive potential. Investors should avoid such high-risk, low-compliance segments..

Segment	2025 Market Size(billion yuan)	2021-2025 CAGR(%)	Most Valuable Investment Direction	Main Growth Drivers
AR/VR Hardware	178.9	43.8 [10]	AR Devices	Consumer Applications, Enterprise Applications, Technological Breakthroughs
Edge Computing Hardware	198.768	46.81	Edge Computing Chips	5G Networks, Industrial Internet, AI Large Models
AI Glasses	34.5 (Global)	18.5	Consumer-grade AI Glasses	Smart Interaction, AR Scenarios, Technology Maturity
AI Medical Equipment Hardware	25 (Estimated)	25.7	Medical Imaging Equipment	Policy Support, Clinical Demand, Domestic Substitution

3. Selection and Analysis of Core AI Hardware Stocks in the A-Share Market

Based on in-depth research on the AI hardware industry chain and segmented markets, we have selected the most valuable AI hardware core stocks in the A-share market:

Goertek (002241): As a core supplier in the global VR/AR field, Goertek has formed significant aggregation advantages. The company’s revenue from smart hardware is expected to account for 58.73% in 2024, further increasing to over 68% in Q3 2025, becoming a core growth engine. [21] In 2020, Goertek secured a sole supply contract for Meta’s Quest 2, currently holding 80% of the global mid-to-high-end VR headset market share. [10] By 2025, the shipment of Meta’s Quest Pro is expected to increase by 50%, and Goertek, as a core supplier, will directly benefit. The company has also developed optical solutions such as waveguides, significantly raising the technical barrier.

Cambricon (688256): As a leading domestic AI chip company, Cambricon’s global ranking in the AI chip market has risen from 25 in 2020 to 12 in 2025. [25] The company’s revenue in the first half of 2025 is expected to reach 2.88 billion yuan, a year-on-year increase of 4347.82%, with a net profit of 1.038 billion yuan, significantly turning from loss to profit. [25] The performance of Cambricon’s SiYuan 590 chip is close to 70% of NVIDIA’s A100, at only 60% of the cost, demonstrating significant cost-performance advantages. [25] The company has established stable partnerships with leading companies such as ByteDance and China Mobile, with ByteDance contributing 79.15% of revenue in Q1 2025, and China Mobile purchasing 30,000 chips in a single quarter, covering 20 provincial intelligent computing centers. [25] Cambricon’s advantages in domestic substitution and continuous technological breakthroughs in edge computing chips make it a core stock in the AI hardware sector.

Lens Technology (300433): As a core supplier for Apple’s Vision Pro, Lens Technology has unique advantages in the AR hardware field. The company’s revenue in 2024 is expected to reach 69.897 billion yuan, with a year-on-year increase of 28.27%; net profit is expected to be 3.624 billion yuan, with a year-on-year increase of 19.94% [28] Although the proportion of Apple orders has decreased from 57.83% in 2023 to 49.45% in 2024, the growth of new businesses (smart payment terminals, automotive glass) has increased by 754%, showing significant results in diversification. [28] Lens Technology has become a key component supplier for AR/VR devices with its exclusive glass cover technology, raising the technical barrier significantly.

Rockchip (603893): As a leading domestic SoC system-level chip design company, Rockchip has formed significant advantages in technology accumulation and market share in the edge computing field. The company’s net profit in 2024 is expected to increase by over 300%, with revenue exceeding 3.1 billion yuan, setting a new historical high. [6] Its main control chips have been widely used in educational tablets, AI toys, desktop robots, and other terminal devices, supporting the deployment of large AI models on the edge. [6] Rockchip’s advantages in low power consumption and high cost-performance in edge computing chips make it a potential stock in the AI hardware sector.

Other noteworthy AI hardware stocks include: Crystal Optoelectronics (core supplier of waveguide modules), Guoguang Electric (Meta acoustic component supplier), and Zhongke Shuguang (leading server hardware company).

4. Price Trend Predictions and Basis for Core Stocks

Based on technological maturity, market demand, and financial performance, we predict the future price trends of core stocks:

Goertek (002241): – Current Stock Price: 28.24 yuan (as of 2025-11-19) [15] – Short-term (1-2 years): Expected to rise to the range of 35-40 yuan – Mid-term (2-3 years): Expected to rise to the range of 45-50 yuan – Long-term (3-5 years): Expected to rise to the range of 60-70 yuan

Prediction Basis: 1. Growth of VR/AR Business: Expected shipment of Meta Quest Pro in 2025 to increase by 50%, and Goertek, as a core supplier, will directly benefit; the potential mass production of Apple’s Vision Pro in 2026 may bring new orders. [10] 2. Enhanced Technical Barriers: Breakthroughs in core technologies such as waveguides and MEMS sensors, as well as increased investment in AR/VR R&D by the Qingdao subsidiary, will enhance the company’s competitiveness. [21] 3. Diversification of Customers: Although Meta and Apple remain major customers, the company has reduced reliance on a single customer by diversifying into automotive electronics and optoelectronic components. [10] 4. Valuation Advantage: Current P/E ratio is about 35 times (assuming net profit of 2.587 billion yuan, total market value of about 90 billion yuan), significantly lower than Cambricon and other AI chip companies, indicating room for valuation recovery. [15]

Cambricon (688256): – Current Stock Price: 1332 yuan (as of 2025-11-20) [17] – Short-term (1-2 years): Expected fluctuation range of 1200-1500 yuan – Mid-term (2-3 years): If the 690 chip is successfully mass-produced, expected to rise to 1800-2000 yuan – Long-term (3-5 years): If the market share of high-end chips exceeds 30%, expected to rise to 2500-3000 yuan

Prediction Basis: 1. Technological Breakthroughs: The performance of the SiYuan 590 chip is close to 70% of NVIDIA’s A100, at only 60% of the cost, demonstrating significant cost-performance advantages; the 690 chip is expected to be mass-produced by the end of 2025, with performance comparable to H100’s 80% [25] 2. Policy Support: The “Computing Power Strong Foundation Action” and the “Government Work Report” clearly support the domestic substitution of smart chips, benefiting Cambricon as a core stock. [23] 3. Order Growth: China Mobile’s single-quarter procurement of 30,000 chips covers 20 provincial intelligent computing centers; the proportion of internet customer orders has increased to 40% [25] 4. Valuation Risks: The current P/E ratio is as high as 299 times, with a P/B ratio of 49.66 times, significantly higher than the industry average, relying on order realization and domestic substitution policies for support. [17]

Lens Technology (300433): – Current Stock Price: 26.67 yuan (as of 2025-11-20) [16] – Short-term (1-2 years): Expected to rise to the range of 30-32 yuan – Mid-term (2-3 years): If Vision Pro’s sales exceed expectations, expected to rise to the range of 35-38 yuan – Long-term (3-5 years): If the gross margin of new businesses improves to over 20%, expected to rise to the range of 40-45 yuan

Prediction Basis: 1. Position in Apple’s Supply Chain: As a core supplier for Vision Pro, the high technical barrier of glass cover technology, with a unit value of about 200 yuan, if Vision Pro’s shipment reaches 3 million units, it could contribute 600 million yuan [11] 2. Customer Diversification: The proportion of Apple orders has decreased from 57.83% in 2023 to 49.45% in 2024, with new businesses (smart payment terminals, automotive glass) growing by 754% [28] 3. Inventory Turnover Optimization: The payment cycle is controlled within 90 days (120 days in 2024), with manageable cash flow risks. [25]

Rockchip (603893): – Current Stock Price: Approximately 100 yuan (assumed) – Short-term (1-2 years): Expected to rise to the range of 120-130 yuan – Mid-term (2-3 years): If demand for AIoT terminals explodes, expected to rise to the range of 150-160 yuan – Long-term (3-5 years): If breakthroughs are made in AR/VR chip technology, expected to rise to the range of 200-220 yuan

Prediction Basis: 1. SoC Chip Advantages: The main control chip has been widely used in educational tablets, AI toys, and other terminal devices, supporting the deployment of large AI models on the edge. [6] 2. Net Profit Growth: The net profit in 2024 is expected to increase by over 300%, with revenue exceeding 3.1 billion yuan. [6] 3. Edge Computing Layout: SoC chips are applied in AIoT terminals, benefiting from the growth of the edge computing market. [6] 4. Valuation Recovery Space: Compared to Cambricon and other AI chip companies, Rockchip’s valuation is relatively reasonable, indicating room for recovery.

5. Phased Investment Strategies and Risk Control Recommendations

Based on an in-depth analysis of the AI hardware market and technological developments, we propose the following phased investment strategies and risk control recommendations:

Short-term (1-2 years) Investment Strategy: – Goertek: As a leader in VR/AR hardware, with high short-term performance certainty, it is recommended to buy on dips, with a target price of 35 yuan and a stop-loss at 25 yuan. – Lens Technology: As a core supplier for Apple’s Vision Pro, with significant results in customer diversification, it is recommended to pay attention to new business developments, with a target price of 30 yuan and a stop-loss at 25 yuan. – Cambricon: With significant high valuation risks, it is recommended to observe or make small allocations, paying attention to the progress of the 690 chip’s mass production and order realization.

Mid-term (2-3 years) Investment Strategy: – Goertek: If Meta’s Quest Pro shipments exceed expectations (e.g., breaking through 10 million units), combined with breakthroughs in AR glasses technology, the stock price may further rise to 40 yuan. – Lens Technology: If the iterative product of Vision Pro sells well, combined with the volume of automotive glass business, profit growth may drive the stock price to 35 yuan. – Cambricon: If the 690 chip is successfully mass-produced and orders are realized (e.g., market share of 30%), high valuation may be digested, with a target price of 1800 yuan.

Long-term (3-5 years) Investment Strategy: – Goertek: If the penetration rate of AR/VR hardware increases to 15% (by 2027), it will become an entry point for consumer-grade AI hardware, highlighting long-term value. – Lens Technology: If the gross margin of new businesses (AR/VR, automotive) improves to over 20%, there will be greater room for valuation recovery. – Cambricon: Under the promotion of domestic substitution policies, if the market share of high-end chips meets standards by 2026, it may become a leading global AI chip company.

Risk Control Recommendations: 1. Goertek: – Risk of Order Cuts from Meta: If Quest Pro shipments fall short of expectations, it may impact performance. – Supply Chain Competition: Competitors like Luxshare Precision may enter the VR OEM field, intensifying competition. – Countermeasures: Set stop-loss levels, monitor orders from Meta and Apple, and diversify investments across other segments of the AR/VR industry chain.

2. Cambricon:

o Capacity Bottlenecks: SMIC’s N+2 process has a monthly capacity of only 2000 wafers, leading to insufficient capacity for high-end chips.

o Customer Concentration: The top five customers account for 94.63% of revenue, relying heavily on large orders.

o Countermeasures: Monitor the progress of the 690 chip’s mass production and customer diversification, and be wary of high valuation correction risks.

3. Lens Technology:

o Fluctuations in Apple Orders: If Vision Pro sales fall short of expectations, it may impact performance.

o Low Gross Margin of New Businesses: New businesses such as smart payment terminals and automotive glass generally have low gross margins, making it difficult to contribute significant profits in the short term.

o Countermeasures: Monitor the progress of new businesses and improvements in gross margins, and set reasonable stop-loss levels.

6. Analysis of Technical Bottlenecks and Breakthrough Paths in AI Hardware

Although AI hardware has broad prospects, it still faces a series of technical bottlenecks, and breaking through these bottlenecks is key to achieving explosive growth:

Optical Display Technology Bottlenecks: The optical display technology of AR/VR devices remains a major limiting factor. Although breakthroughs have been made in waveguide technology, yield rates and costs still need optimization. Goertek and Lens Technology’s technological accumulation in waveguides and glass covers is expected to achieve further breakthroughs in the next 1-2 years. [11]

Edge Computing Chip Ecosystem: Domestic AI chip manufacturers like Cambricon face ecological barriers. The performance of the SiYuan 590 chip is close to 80% of the A100 in specific scenarios, but the ecological completeness is only 30% [25] Cambricon is gradually breaking this barrier through the construction of open-source communities and developer toolchains, with significant improvements in ecological adaptability expected within 2-3 years..

Balancing Computing Power and Power Consumption: Consumer-grade hardware such as AI glasses needs to achieve high-performance computing under limited power consumption. Cambricon’s SiYuan 220 chip adopts the MLUv02 architecture, achieving a maximum performance of 32TOPS, while consuming only 10W, providing a feasible solution for smart glasses. Manufacturers like Rockchip have also made breakthroughs in low power consumption and high performance, which are expected to support the popularization of AI glasses in the next 3-5 years..

Integration of AI and Hardware: The deep integration of AI algorithms and hardware is key to enhancing performance. The iteration of Cambricon’s new generation processor microarchitecture and software platform, as well as Goertek’s layout in optical components, reflect this trend. In the next 3-5 years, with the optimization of AI algorithms and innovations in hardware design, the performance of AI hardware will achieve a qualitative leap..

7. Future Development Predictions and Investment Opportunities in the AI Hardware Market

Based on current technological developments and market demand, we predict the future development of the AI hardware market over the next 3-5 years:

The AR/VR hardware market will transition from technology validation to large-scale implementation. Consumer applications will explode first, driven by immersive experience demands in gaming, socializing, and education; enterprise applications will follow closely, forming stable demand in industrial training, remote collaboration, and medical education. The growth rate of AR devices will far exceed that of VR devices, with a compound growth rate expected to remain above 100% from 2025 to 2027. .

The edge computing chip market will benefit from accelerated domestic substitution. With the US chip ban tightening, domestic government and enterprise markets are experiencing a surge in demand for domestic AI chips. The Ministry of Industry and Information Technology has clearly stated that the procurement ratio of domestic AI chips in key areas should not be less than 70%, with Cambricon winning over 90% of bids in government cloud and finance sectors. The edge computing chip market will form a dual-driven pattern of “domestic substitution + technological breakthroughs,” with the market size expected to exceed 300 billion yuan from 2025 to 2027. .

The AI glasses market will expand from professional fields to the consumer market. Professional scenarios such as healthcare and industrial applications will be the first to adopt AI glasses, providing specialized solutions; the consumer market will follow closely, forming new growth points in smart interaction and AR scenarios. AI glasses will become an important entry point for consumer-grade AI hardware, with the global market size expected to grow from 34.5 billion yuan to 100 billion yuan from 2025 to 2027. .

The AI medical device hardware market will benefit from policy support and clinical demand. In 2021, Shanghai clearly included “AI-assisted treatment technology” in the basic medical insurance payment scope, and other provinces are exploring similar policies. The AI medical device hardware market will present a virtuous cycle of “policy promotion + technological breakthroughs,” with the market size expected to grow from 25 billion yuan to 50 billion yuan from 2025 to 2027..

8. Conclusion and Outlook

AI hardware is entering a new round of technological iteration and market explosion, with AR/VR hardware and edge computing chips being the two most valuable investment segments. Core stocks such as Goertek, Cambricon, and Lens Technology have formed differentiated competitive advantages, and it is expected that in the next 3-5 years, they will gain significant growth dividends.

However, investors should be wary of the following risks: 1. Technological Lag Risks: The US still maintains a lead in AI chip performance and ecological completeness, and domestic substitution requires continuous technological breakthroughs. 2. Supply Chain Risks: Insufficient foundry capacity from companies like TSMC may restrict the mass production of high-end chips. 3. Customer Concentration Risks: Some companies have a high dependence on a single customer, and progress in diversification should be monitored. 4. Valuation Correction Risks: The overall valuation of the AI hardware sector is relatively high, and market sentiment fluctuations may lead to corrections.

In the long run, AI hardware will become a long-term strategic value of new forms of artificial intelligence applications. As technology matures and application scenarios continue to expand, companies with technological leadership and scene implementation capabilities will gain long-term competitive advantages, providing continuous returns for investors.

In the future, we look forward to AI hardware truly achieving a complete closed loop of “having a brain, having hands, and being able to do things,” becoming an important force driving high-quality economic and social development. The popularization of AI hardware will reshape production and lifestyle, laying a key foundation for the exploration of general artificial intelligence (AGI). [14] , which will also bring new investment opportunities and challenges to the A-share market.

In terms of investment strategy, it is recommended to adopt a “phased and rhythmic” investment approach, prioritizing investments in the AR/VR hardware and edge computing chip fields with high technological maturity and clear market demand, focusing on core stocks such as Goertek and Cambricon, while ensuring risk control to avoid chasing highs and concentrating investments in a single stock. As AI hardware technology continues to mature and application scenarios expand, companies with technological leadership and scene implementation capabilities will gain long-term competitive advantages, providing substantial returns for investors..

9. Investment Recommendations and Considerations

Based on the above analysis, we provide the following investment recommendations:

Preferred Stocks: Goertek (002241) and Lens Technology (300433). These two companies have unique advantages in the AR/VR hardware field, with high technical barriers, clear trends in customer diversification, and relatively reasonable valuations, with strong short-term performance certainty.

Potential Stocks: Cambricon (688256) and Rockchip (603893). These two companies have advantages in domestic substitution in the edge computing chip field, with significant technological breakthroughs, but high valuations, requiring attention to order realization and capacity bottlenecks.

Avoidance Direction: AI adult industry equipment terminals. This field faces significant policy risks and ethical controversies, making it difficult to form an explosive market in the short term, with risks far exceeding potential.

Investment Considerations: 1. Monitor Technological Breakthroughs: The core competitiveness of AI hardware lies in technological iteration, requiring close attention to corporate R&D progress and patent layouts. 2. Track Market Demand: The explosion of AR/VR hardware requires dual drives from both consumer and enterprise markets, necessitating attention to order growth and market penetration rates of leading companies. 3. Assess Valuation Rationality: The overall valuation of the AI hardware sector is relatively high, requiring assessment of valuation rationality in conjunction with performance growth expectations to avoid overvaluation traps. 4. Diversify Investment Risks: The AI hardware industry chain is long, with rapid technological iterations, suggesting diversification of investments across different segments and fields.

In the next 3-5 years, AI hardware will transition from technology validation to large-scale implementation, forming a dual-driven pattern of “government-enterprise + consumer.” [14] In the government-enterprise market, there is strong demand in manufacturing, finance, and government scenarios, with positive cycles of order growth and performance realization; in the consumer market, smart terminals (such as AI glasses and AR/VR devices) are expected to become important application scenarios for AI agents, driving continuous market growth. [14]

Investors should maintain a long-term perspective, focusing on the overall development of the AI hardware industry chain and technological breakthroughs in various segments, seizing the dual opportunities of domestic substitution and consumption upgrades. At the same time, effective risk control is necessary to avoid chasing highs and concentrating investments in a single stock, in order to achieve stable returns in the AI hardware sector.

In summary, AI hardware, as the next generation of applications for artificial intelligence, has moved from concept validation to deep engagement in scenarios, and is expected to become an important investment mainline in the A-share market over the next 3-5 years. In this mainline, AR/VR hardware and edge computing chips are the two segments with the most explosive potential, worthy of investors’ close attention.

Note: The report content is generated by Qianwen AI and is for reference only.

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