海内外资本开支持续催化，“光模块ETF”哪里找？布局光模块占比超48%通信ETF(515880) ，同类规模第一

Group 1 - The core viewpoint indicates that the Chinese government's "Artificial Intelligence +" action plan aims for the application penetration rates of new-generation intelligent terminals and agents to exceed 70% and 90% by 2027 and 2030, respectively, which is above expectations and catalyzes domestic computing power [1] - The AI infrastructure investment is expected to increase, with a focus on enhancing tokens and daily active users (DAU), leading to a positive outlook for the performance of telecommunications companies [1] - According to TrendForce, the proportion of foreign-sourced chips in China's AI server market is projected to decrease from 63% in 2024 to 42% by 2025, while domestic chip suppliers are expected to increase their share to 40%, indicating a trend towards domestic substitution [1] Group 2 - Alibaba has reiterated its commitment to invest 380 billion yuan in AI capital expenditures over the next three years and has announced that its self-developed AI chips have entered the testing phase, which may fill the gap left by Nvidia [1] - The continuous investment in computing power infrastructure both domestically and internationally is expected to maintain a high level of prosperity in the optical module market [1] - The telecommunications ETF (515880) has a scale exceeding 9.5 billion yuan, with "optical modules + servers + copper connections + optical fibers" accounting for over 75% of the total, indicating a strong fundamental outlook for computing hardware [1]