机构：国产算力公司有望进入快速增长期

Group 1 - The Ministry of Industry and Information Technology has announced a special action plan for "millisecond computing" in urban areas, aiming to optimize the network architecture between computing power centers and achieve a one-way interconnection delay of less than 1 millisecond by 2027 for medium and large computing power centers [1] - The plan includes accelerating the deployment of high-performance networks between computing power centers, with a target of achieving a deployment rate of at least 50% for 400Gbps exports and all-optical cross-connects at key urban sites by 2027 [1] - ZheShang Securities predicts that the global AI sector will continue to thrive through the first three quarters of 2025, with significant advancements in multimodal applications and increased investments from major companies like OpenAI, Oracle, and Google [1] Group 2 - First Shanghai Securities expresses optimism regarding the sustained high growth of computing power demand driven by AI applications, indicating that both domestic and international AI applications are reaching a pivotal point of widespread adoption [2] - The domestic computing power sector is expected to remain in a tight balance, with key challenges such as advanced process capacity and HBM supply gradually being addressed over time, leading to continuous positive developments in the industry [2] - The overseas computing power sector is also anticipated to maintain its growth momentum as inference applications expand, sustaining demand in the market [2]