通信行业周报：AI配套设备增长迅速，产业链有望超预期

Investment Rating - The report recommends focusing on high-quality stocks in sub-sectors with improving marginal conditions, particularly in the context of digital economy infrastructure and AI applications [2][5]. Core Insights - The AI server market is experiencing significant growth, with a global market size reaching $45.422 billion, a year-on-year increase of 35%, and AI servers accounting for 29% of the total server market in Q2 2024 [2][22]. - The global fiber optic cable market is expected to recover, with a projected annual growth rate of 6.2% in 2025, driven by demand from the US, Europe, and a stabilizing Chinese market [2][27]. - Major telecom operators are advancing in AI and quantum communication technologies, with notable developments from China Mobile, China Telecom, and China Unicom [2][28]. Summary by Sections Market Performance - The communication sector index declined by 1.99% over the week, while the smart card sub-sector performed well with a gain of 1.70% [1][9]. - Among communication stocks, 17.56% increased, 1.53% remained stable, and 80.92% decreased [18]. Industry Development and Key Events - The AI server market is rapidly expanding, with a notable increase in demand for customized servers from major tech companies [22]. - The global fiber optic cable market is currently in a cyclical adjustment but is expected to recover in 2025, with significant growth anticipated in the US and European markets [27]. Major Equipment Manufacturers and Operator Bidding - Huawei launched the Alpha series antennas, marking a significant advancement in antenna technology for the mobile AI era [28]. - ZTE has become the leader in the Chinese desktop cloud terminal market, with a total shipment of over 2.1 million cloud terminals, serving more than 5 million cloud computer users [30]. - China Mobile announced the results of its new voice network equipment procurement, with Huawei and ZTE winning significant shares of the contracts [32][35].