AI算力浪潮下，2026年还可以关注这三大方向丨每日研选

Core Insights - The daily token usage of Doubao's large model has surpassed 50 trillion, ranking first in China and third globally [1] - Major tech companies like Alphabet, Amazon, Meta, and Microsoft are expected to set new records in capital expenditure by Q3 2025, focusing on AI computing clusters [1] Group 1: Market Trends - The demand for high-performance GPU/ASIC clusters necessitates high inter-node communication bandwidth, elevating high-speed optical modules from "supporting components" to "core computing power" [1] - The 800G products are currently the main driver of performance growth, while 1.6T technology is expected to be commercially launched by 2026 after validation in 2025 [1] - The internal data exchange within computing clusters and inter-data center interconnections (DCI) significantly increases the demand for optical fibers and cables [2] Group 2: Investment Opportunities - Focus on companies benefiting from specification upgrades and high demand elasticity, particularly those with established barriers in production capacity, customer certification, and supply chain position [2] - Key beneficiaries in the optical module and upstream device sector include leading companies like Zhongji Xuchuang and Xinyi Sheng, which have achieved large-scale delivery of 800G and are advancing 1.6T capacity [2] - In the liquid cooling sector, companies with full-stack solution capabilities and large-scale delivery experience, such as Yingweike and Feilong Co., are expected to benefit from this industrial cycle [2] - In the optical fiber and cable sector, leading companies like Zhongtian Technology and Hengtong Optic-Electric, which excel in special optical fibers and marine communication, should be monitored for their competitive advantage in production capacity [2][3]