智通财经网·2025-06-06 00:30Core Viewpoint - The report from CITIC Securities highlights the significant growth potential in the AIDC (Artificial Intelligence Data Center) sector, driven by increasing capital expenditures and a shift towards more specialized and application-oriented computing power solutions [1][2]. Group 1: Market Growth and Trends - AIDC is expected to provide substantial incremental computing power, with projections indicating that the domestic computing scale will reach 1,037.3 ELOPS by 2025 and 2,781.9 ELOPS by 2028 [2]. - The global demand for data center power capacity is growing at an annual rate of 19% to 27%, necessitating the construction of at least double the data center power capacity built since 2000 within a short timeframe from 2024 to 2030 [3]. - In the U.S. market, major tech companies are increasing their capital expenditures by 28.65% in 2025 compared to 2024, despite record levels of cabinet construction and a historical low vacancy rate of 2.6% in North America [3]. Group 2: Domestic Market Dynamics - The domestic data center industry is experiencing rapid growth, with significant increases in capital expenditures from major telecom companies, such as China Mobile, China Telecom, and China Unicom, projected to rise by 1%, 22%, and 29% respectively in 2025 compared to 2024 [4]. - Internet companies are expected to increase their capital expenditures by 68.15% in 2025 compared to 2024, reflecting a robust investment trend in the computing power sector [4]. - The market size for intelligent computing centers is projected to reach 288.6 billion yuan by 2028, which is 2.8 times the size in 2024, indicating a strong growth trajectory [4].