Nvidia(US:NVDA) Xin Lang Cai Jing·2025-09-23 01:57Core Viewpoint - The collaboration between Nvidia and OpenAI, involving a significant investment and the construction of large AI data centers, is expected to drive demand for optical communication modules, indicating a robust growth outlook for the optical module industry. Group 1: Market Performance - On September 23, major market indices showed mixed results, with the communication equipment ETF (159583) rising over 3%, and constituent stocks such as NewEase and Zhongji Xuchuang increasing by more than 5% [3][4]. Group 2: Nvidia and OpenAI Collaboration - Nvidia and OpenAI announced a partnership that includes a plan to build large data centers and Nvidia's investment of up to $100 billion in OpenAI. This news led to Nvidia's stock price rising over 4%, reaching a historical high with a market capitalization nearing $4.5 trillion [5]. - OpenAI will utilize Nvidia's systems to build and deploy at least 10 gigawatts of AI data centers, which is equivalent to the electricity consumption of 8 million American households [5]. Group 3: Optical Module Demand - The rapid development of AI technology is leading to an exponential increase in data processing needs, which traditional electrical connections cannot meet. The demand for high-speed optical modules is expected to surge as data center internal data traffic increases significantly [5]. - Deployment of 400G and above high-speed optical modules is projected to grow by 250% year-on-year in 2024, with further growth expected in 2025, including a 100% increase in 800G module shipments [5]. Group 4: Market Forecast - LightCounting predicts that the global optical module market will grow at a CAGR of 22% from 2024 to 2029, potentially exceeding $37 billion by 2029. The Chinese market is expected to reach approximately 60.6 billion yuan in 2024 and 67 billion yuan in 2025 [5]. - Guosheng Securities highlights that the exponential growth in AI computing demand necessitates faster and more efficient data transmission capabilities, which will drive long-term growth in the optical module industry [7]. Group 5: Investment Opportunities - The communication equipment ETF (159583) is the only ETF tracking the China Securities Communication Equipment Theme Index, with significant holdings in NewEase and Zhongji Xuchuang, which together account for over 10% of the ETF [7][8].