In the afternoon, a 20% straight-limit increase! The entire sector is completely boiling over! DeepSeek, brings a major positive development.

Just now, DeepSeek迎来了重大催化！

On the afternoon of April 8th, against the backdrop of a rising market, the artificial intelligence sector fully exploded, with KaiLe Co., Ltd. opening sharply and hitting the daily limit with a 20% surge. The collective surge of the ChiNext AI ETF saw most increases exceeding 8%.

There are reports in the market that DeepSeek has begun grayscale testing of V4 version among some users. Meanwhile, according to First Financial, DeepSeek has received an important update. In the latest version, a new “Quick Mode” and “Expert Mode” have been added above the DeepSeek input box. This is the first time since DeepSeek’s rise that a layered mode design has been introduced at the product level.

Analysts believe that the surge in oil prices caused by war logic has had a significant impact on growth stocks, and today’s rise may also be due to a reversal of that logic.

A Complete Frenzy

Specifically, the heat of the artificial intelligence sector. This afternoon, most AI ETFs increased by over 8%. The ChiNext 50 Index rose by 6%, with all constituent stocks up. This seems to correspond to a strong return of overall market enthusiasm.

On the news front, according to First Financial, DeepSeek has received an important update. In the latest version, a new “Quick Mode” and “Expert Mode” have been added above the DeepSeek input box. This is the first time since DeepSeek’s popularity that a layered mode design has been introduced at the product level. Quick Mode is suitable for daily conversations, providing instant responses, and supports text recognition in images and files; Expert Mode excels at complex questions, supporting deep thinking and intelligent search; currently, file uploads and multimodal functions are not supported, and DeepSeek also reminds users to wait during peak times in this mode.

Market rumors also indicate that DeepSeek V4.0 grayscale testing has begun. Unlike previous silent upgrades, this time the user interface features clear mode switching options: Quick Mode (default), Expert Mode (expert), and Vision Mode (vision), which appear side by side at the top of the chat interface. This is the most significant change in DeepSeek’s product form since the 1 million+ context grayscale test on February 11.

CITIC Securities previously stated that the next-generation model of DeepSeek (such as V4.0) is expected to incorporate the Engram module into the mature DSA+MoE architecture, reducing the computational load of attention layers exponentially through layered storage of key information, enabling ultra-long context processing and improving efficiency. It is expected to refine code and agent capabilities and address multimodal shortcomings, continuing the high cost-performance route. DeepSeek V3.2 previously reduced input and output token pricing by 60% and 75%, respectively.

Can the Market Continue?

From the current situation, the biggest variable remains Iran.

Currently, both sides have reached a two-week ceasefire agreement and plan to hold negotiations in Islamabad this Friday (April 10) to reach a comprehensive deal.

Some brokerage analysts believe that internal pressure in the U.S. and external pressure on Iran are key reasons for the ceasefire. Iran’s “Ten-Point Proposal” is quite stringent, yet Trump still agreed to the ceasefire, indicating he cannot bear the political consequences of ongoing and escalating war. Meanwhile, due to the continued blockade of the Strait, Iran is under significant diplomatic pressure.

The current uncertainty is whether Israel will also cease fire. Analysts believe that Israel’s bombing of Iran heavily relies on U.S. logistics and intelligence; if the U.S. stops, Israel will stop too. The Strait of Hormuz is also likely to remain toll-based, but the U.S. will not recognize Iran’s right to charge fees, allowing Iran to establish de facto facts.

At the same time, reaching a comprehensive agreement is quite difficult. The differences in terms are large, and the essence of ceasefire negotiations is external and internal pressures on both sides, not consensus on terms. Without an agreement, there is a risk of renewed conflict, but the Korea War model can be referenced—no comprehensive agreement, no basic consensus, and a long-term ceasefire is the reality.

The above analysis indicates that time is not on Trump’s side; decisions need to be made within the next 1-2 weeks. Moving forward may not solve the problem and could even escalate it; stepping back might cost political reputation and national interests, but with half a year until the midterm elections, there is still time to repair approval ratings.

Layout: Wang Lulu

Proofreading: Liu Rongzhi