5G通信ETF（515050）底部拉升，谷歌AI业务全面加速，机构：坚定看好“光、液冷、国产算力”三条核心主线

Core Viewpoint - The A-share market is experiencing a technical correction in AI computing power and optical modules after a rapid rise, with key stocks like Tianfu Communication and Jinguang Electronics seeing significant declines. However, the upcoming financial reports from North American cloud companies are expected to reinforce AI development expectations, indicating a supply-demand imbalance in computing hardware in the medium to long term [1]. Group 1: Market Performance - As of 13:58 on October 30, the 5G Communication ETF (515050) is down 1.92%, with major holdings such as Tianfu Communication, Jinguang Electronics, and AVIC Optoelectronics showing notable declines [1]. - Following a period of rapid increases, the AI computing power and optical module sectors are undergoing a technical correction, with some investors taking profits as third-quarter earnings reports are released [1]. Group 2: Company Financials - Alphabet, Google's parent company, reported a significant increase in its cloud business, with third-quarter sales (excluding partner share) rising to $87.5 billion, surpassing analyst expectations of $85.1 billion [1]. - The company has raised its full-year capital expenditure forecast to between $91 billion and $93 billion, up from the previous estimate of $85 billion [1]. Group 3: Industry Outlook - Open Source Securities expresses strong confidence in three core themes: "optical, liquid cooling, and domestic computing power," highlighting the significant "siphoning effect" of AI and the potential for continued global resonance in AI development [1].