EOPTOLINK(SZ:300502) Xin Lang Ji Jin·2025-09-25 11:45Core Viewpoint - The ChiNext board has reached a three-year high, driven by the artificial intelligence sector, with the ChiNext AI Index rising by 2.5% and significant gains in both computing power and AI applications [1][3]. Group 1: Market Performance - The ChiNext AI Index has seen a substantial increase of 174% over the past year, outperforming other indices [4]. - The largest and most liquid ChiNext AI ETF (159363) experienced a daily trading volume exceeding 1.7 billion yuan, doubling from previous levels, and closed up 2.49% [1][6]. Group 2: Catalysts for Growth - North American cloud service providers are projected to have a combined capital expenditure of $461.3 billion by 2026, a 20% increase from 2025, while Alibaba plans to invest 380 billion yuan in AI infrastructure [3]. - Major companies like Google and Oracle are beginning to establish a commercial closed loop for AI applications, indicating a positive long-term outlook for computing power investments [3]. - Alibaba has launched its largest and most capable model, Qwen3-Max, which has achieved significant rankings in AI performance metrics [3]. Group 3: Industry Outlook - The demand for optical modules remains strong, with a positive outlook for the AI-driven computing power expansion cycle [4]. - The ChiNext AI sector is expected to continue its growth trajectory, with recommendations to focus on AI applications and computing power segments [3].