重视【开源通信蒋颖团队】核心力荐硅光和CPO"四重点"+"四小龙"组合 【硅光光引擎和CW】"四重点"推荐标的：中际旭创、新易盛、源杰科技、天孚通信； 【硅光设备及光互联】"四小龙"受益标的：罗博特科、致尚科技、炬光科技、杰普特等。 重视【开源通信蒋颖团队】核心力荐硅光和CPO"四重点"+"四小龙"组合 【硅光光引擎和CW】"四重点"推荐标的：中际旭创、新易盛、源杰科技、天孚通信； 【硅光设备及光互联】"四小龙"受益标的：罗博特科、致尚科技、炬光科技、杰普特等。 ...

光模块概念股震荡走低，新易盛跌超8%，中际旭创、连特科技、剑桥科技等股纷纷跟跌。 ...

上证报中国证券网讯（卢伊 记者 徐蔚）2月3日，A股两融余额为27065.64亿元，较上一交易日减少25.24亿元，占A股流通市值比例为2.64%。当日两融交易 额为2453.77亿元，较上一交易日增加21.38亿元，占A股成交额的9.56%。 | 融资融券余额 | | | 融资余额 | | | | --- | --- | --- | --- | --- | --- | | 27,065.64 ↓ 亿元 -25.24(-0.09%) | | | 26,898.40 + 亿元 -28.39(-0.11%) | | | | 沪市 | 深市 | 北交所 | 沪市 | 深市 | 北交所 | | 13,685.83 ↓ 亿元 | 13,291.92 ↑ 亿元 | 87.88 ↑ 亿元 | 13,573.88 ↓ 亿元 | 13,236.64 ▲ 亿元 | 87.88 ↑ 亿元 | | -42.80(-0.31%) | 17.01(0.13%) | 0.55(0.63%) | -43.63(-0.32%) | 17.01(0.11%) | 0.55(0.63%) | 资金流向方面，申万31个一级行业中有12个行业获融资净 ...

每经AI快讯，2月4日早盘，CPO概念震荡下挫，新易盛（300502）、中际旭创（300308）跌近10%，广 合科技（001389）、联特科技（301205）、东田微（301183）、剑桥科技（603083）等多股跌超5%。 ...

每经AI快讯，Wind数据显示，A股2月3日共有3769只个股获融资资金买入，有470股买入金额超亿元。 其中，新易盛、中际旭创、信维通信融资买入金额排名前三，分别获买入47.19亿元、33.7亿元、24.99 亿元。 从融资买入额占当日总成交金额比重来看，有3只个股融资买入额占比超30%。其中泰豪科技、纳微科 技、众鑫股份融资买入额占成交额比重排名前三，分别为55.27%、33.43%、30.11%。 从融资净买入金额来看，有39只个股获融资净买入超亿元。其中，航天发展、天孚通信、信维通信融资 净买入金额排名前三，分别获净买入9.7亿元、7.22亿元、5.01亿元。 每日经济新闻 ...

从商业航天到太空光伏，您好，我是太空人。 黄金深V反弹，涨超6%，我们在之前的文章中写了黄金的修复逻辑，长期看好，短期高波动。 聊聊几个热点板块： 1. 商业航天：SpaceX宣布已收购人工智能初创公司xAI。知情人士称，SpaceX付出了价值2500 亿美元的股票。 此举将将马斯克的两家标志性公司，全球最大的两家私营公司绑定在一起。它还将火箭、卫星、社交媒 体网站X和人工智能整合到一家公司之下。 这笔交易完成后，将使SpaceX成为全球估值最高的未上市公司，达1.25万亿美元。这将是全球估值最大 的IPO之一。（有记录以来最大的首次公开募股是沙特阿美，2019年在沙特上市，市值约为1.9万亿美 元。） 此前，据美国联邦通信委员会（FCC）最新披露文件显示，SpaceX申请提议在近地轨道部署最多100万 颗卫星，建设太空轨道数据中心。 相关ETF：通用航空ETF（159231）、军工ETF（512810） 1. 光模块：近期，光模块"易中天"三家公司发布25年全年业绩预告，合计盈利锁定在210亿至 238亿元之间，整体利润比2024年翻了一倍还多，增幅约155%。 | 对比维度 | 新易盛 (300502.S ...

Investment Rating - The report indicates a positive investment outlook for the technology sector, particularly in AI and cloud computing, with significant capital expenditures from major players like Meta, Microsoft, and Alibaba [6][31]. Core Insights - Major tech companies are increasing capital expenditures to enhance AI capabilities, with Meta's projected spending reaching between $115 billion and $135 billion for the year [5][31]. - AI demand remains strong, with companies like OpenAI and Anthropic accelerating their growth and preparing for IPOs, indicating a robust market for AI applications [4][11]. - The report highlights a shift in pricing strategies among cloud service providers, with Google Cloud and Amazon AWS raising prices for data transmission and machine learning services, marking a departure from the long-standing trend of price reductions [20][21]. Industry Frontiers - OpenAI has raised over $100 billion in funding, with a valuation of $830 billion, and is preparing for an IPO in Q4 2026 [4][11]. - Anthropic has revised its revenue projections, expecting a threefold increase in sales this year, potentially reaching $18 billion, and over $55 billion next year [11][12]. - ByteDance is set to release a new AI model in mid-February, aiming to capture a larger share of the AI market in China [12][27]. Capital Trends - Google Cloud announced a price increase for global data transmission services effective May 2026, with Amazon AWS also raising prices for its machine learning services by approximately 15% [5][20]. - Meta has secured a $6 billion long-term supply agreement with Corning for fiber optic cables, emphasizing the importance of infrastructure in AI development [21]. - Alibaba is considering increasing its investment in AI infrastructure and cloud computing from 380 billion to 480 billion yuan over the next three years [25][26]. Weekly Perspectives - The report notes that AI investments are yielding positive results for companies like Meta, with improved user engagement and advertising performance [31][32]. - The demand for AI infrastructure is expected to surge, driven by the increasing need for advanced computing capabilities [32]. - The report anticipates a significant growth in the number of ASIC chips required for AI applications, projecting a boom in demand from 2026 to 2027 [32]. Industry Chain Data Updates - In December, China's smartphone market saw a significant decline in sales, with Huawei maintaining the largest market share [34]. - The PC market experienced a mixed performance, with desktop sales increasing while laptop sales declined [35].

Core Insights - The dinner hosted by NVIDIA CEO Jensen Huang in Taipei included key executives from major companies in the AI supply chain, highlighting the importance of collaboration in the industry [2][3] - Huang emphasized the challenges in the production of NVIDIA's next-generation AI chip, Blackwell, and indicated that the supply chain will be "extremely tight" in 2026 [3][12] - The event showcased the significant market value of the participating companies, collectively exceeding $5 trillion [2] Supply Chain Dynamics - TSMC's chairman, Wei Zhejia, confirmed that TSMC needs to work hard to meet NVIDIA's demand for wafers and CoWoS packaging capacity, with NVIDIA accounting for over 60% of TSMC's CoWoS demand in 2025 [3][4] - Major Taiwanese manufacturers like Hon Hai Precision, Quanta Computer, and Wistron are responsible for assembling NVIDIA's AI supercomputing systems, indicating a clear division of labor within the supply chain [5] - The introduction of liquid cooling solutions by companies like Qihong Technology reflects the increasing power demands of new chips, necessitating advanced thermal management [5][6] Financial Performance - Victory Technology, a PCB manufacturer, anticipates a significant increase in net profit for 2025, projecting a rise of 260.35% to 295.00% year-on-year, driven by high-value product orders related to AI computing [6][7] - Industrial Fulian, a subsidiary of Hon Hai, expects a net profit increase of 51% to 54% for 2025, with a notable growth in cloud service server revenue [7][8] - Companies in the optical module sector, such as Zhongji Xuchuang and Xinyi Sheng, are also experiencing substantial growth, with projected net profits increasing by up to 128.17% [8][9] Emerging Competitors - Domestic chip companies like Cambrian are achieving significant revenue growth, with projections indicating a 410.87% to 496.02% increase in 2025, marking their first annual profit [10][11] - The rise of domestic GPU manufacturers, such as Moer Technology and Tianxu Zhixin, reflects a shift towards local alternatives in the computing power market, driven by capital market support [11][12] - Huang's comments on the increasing demand for high-bandwidth memory and advanced packaging solutions suggest ongoing opportunities in the semiconductor sector [12]

涨了几年的CPO，还能继续吗？ 随着新易盛（300502）公布了远超机构预期的业绩预告，光模块的前景再次成为市场关注的焦点。 花旗近日发布发布新易盛专项研究快报，解读公司2025年及第四季度净利润指引的核心亮点。 报告称，新易盛给出的2025年净利润指引远超市场及花旗预期，短期业绩不确定性彻底释放，叠加光模 块行业800G/1.6T升级周期的持续红利，重申"买入"投资评级，给予472元目标价，公司中长期成长空间 值得期待。 01 超预期背后的两大关键支撑 新易盛本次披露的2025年净利润指引，成为市场情绪修复的核心催化剂——公司预计全年净利润为94亿 元至99亿元，同比增幅达231%-249%，指引中值（96.5亿元）较市场共识高4%，显著超出市场此前的 谨慎预期。 更为关键的是，2025年公司非经常性损益仅为3300万元，几乎不影响核心盈利表现，意味着这份亮眼的 业绩指引完全由主营业务增长驱动，盈利质量极具韧性。 从单季度表现来看，结合全年指引测算，2025年第四季度净利润中值约为33.23亿元，同比激增179%、 环比增长39%；该数值较花旗预期低17%、较市场共识高14%，单季度盈利增速进一步提速，印证 ...

当AI发展正从算力建设转向应用落地，一键布局"算力+AI应用"的创业板人工智能ETF（159363） 及场外联接（023407），更直接受益于AI技术商业化爆发的增长红利。从赛道看，创业板人工智能约 六成仓位布局算力（光模块龙头+IDC龙头），约四成仓位布局AI应用，不止是"算力"核心，也是真正 的"AI应用"代表。 每日经济新闻 2月3日，CPO光模块大反攻，致尚科技一度20CM涨停，天孚通信猛涨超11%再创历史新高，中际 旭创、新易盛涨超3%。热门ETF品种——创业板人工智能ETF（159363）早盘一度大涨4.5%，无限逼近 历史新高，近两日该ETF强势吸金1.5亿元。 消息面上，光模块龙头"易中天"已悉数披露2025年年报业绩预告。受益于全球算力基础设施投入加 大、高速光模块与光器件需求旺盛，叠加企业自身降本增效措施，三家公司均展现出强劲的增长势头： 中际旭创预计2025年归母净利润98亿–118亿元，同比增长89.5%–128.2%。新易盛预计2025年归母净利 润94亿–99亿元，同比增长231.2%–248.9%。天孚通信预计2025年归母净利润18.81亿–21.50亿元，同比 增长40.0% ...