A股算力板块全面爆发

Core Viewpoint - The computing power sector has experienced a significant surge, becoming one of the most attractive investment themes in the A-share market, particularly driven by AI chips, AI servers, optical modules, and liquid cooling technologies [1][4]. Group 1: Market Performance - The computing power sector saw multiple stocks with market capitalizations exceeding 100 billion reach new highs, including Cambricon, Industrial Fulian, and leading optical module companies like Zhongji Xuchuang and Xinyi Sheng [1]. - On August 13, the optical module index rose by 6.24%, while the copper industry index increased by 4.84%, indicating strong market interest in these sectors [2]. - Cambricon's stock price reached a peak of 868 CNY, closing at 860 CNY with a market cap of 359.8 billion CNY, reflecting investor enthusiasm despite rumors being denied [4]. Group 2: Key Drivers - Four main factors are driving the surge in the computing power sector: 1. Nvidia's potential easing of sales policies to China, which has injected confidence into the sector [7]. 2. Explosive growth in capital expenditures from North American cloud providers, with a total of 159.384 billion USD expected in the first half of 2025, a 24.4% year-on-year increase [8]. 3. The release of major AI models, such as OpenAI's GPT-5, which has significantly increased demand for computing power [8][9]. 4. Breakthroughs in the domestic computing power supply chain, with companies like Huawei and domestic liquid cooling firms achieving significant technological advancements [9]. Group 3: Sector Trends - The liquid cooling market is projected to exceed 200 billion CNY by 2025, with a current global market size surpassing 50 billion CNY, and China accounting for 35% of this market [6]. - The shift from air cooling to liquid cooling systems is becoming increasingly clear, driven by the need for efficient cooling solutions for high-power chips [6]. - Analysts predict substantial growth in earnings for several companies in the computing power hardware sector, with projected profit increases of up to 1479% for Huafeng Technology and 897% for Hailanxin [9].