Xin Lang Cai Jing·2025-09-12 06:50Group 1 - The core viewpoint of the articles highlights the recent volatility in the optical module sector, particularly the performance of leading companies such as Xinyiseng, Zhongji Xuchuang, and Tianfu Communication, which experienced a decline after a significant surge [1] - The three major companies account for over 40% of the weight in the Huaxia AI ETF (159381), which tracks the ChiNext AI Index, with optical modules representing over 50% of the ETF's weight [1] - Goldman Sachs' research report indicates that despite the recent price increases of Xinyiseng and Zhongji Xuchuang, their valuations remain reasonable, with target prices being raised [1] Group 2 - The upstream computing power industry chain, represented by optical modules and PCBs, has seen an increase in overseas revenue, particularly from major tech companies like Nvidia and Microsoft [2] - There is a growing optimism regarding the A-share North American computing power industry chain due to increased capital expenditures from North American giants and ongoing technological advancements [2] - This positive sentiment is contributing to the sustained performance of the North American computing power market [2]