计算机行业周报：AI算力持续景气，数据要素政策密集落地

Investment Rating - The industry investment rating is maintained at "Overweight" [4][13][14] Core Viewpoints - The report highlights that major North American tech companies are increasing capital expenditures, with a projected total of $200 billion for the year, representing a 42% year-on-year growth. Microsoft, Alphabet, Amazon, and Meta are all significantly ramping up their investments in AI infrastructure [5][6] - Domestic computing power companies are showing strong performance, with notable revenue growth in Q3 2024. For instance, Industrial Fulian reported revenue of 170.28 billion yuan, a year-on-year increase of 39.53%, while Haiguang Information's revenue grew by 78.33% to 2.374 billion yuan [5][6] - The report emphasizes the recent rollout of data element policies, indicating a national focus on the development of the data element industry, with multiple policy documents being released to support this initiative [6] Summary by Sections Market Review - In the past week (October 28 - November 1), the Shanghai Composite Index fell by 0.84%, while the computer sector index decreased by 0.98%, outperforming the Shanghai Composite by 0.14 percentage points and the CSI 300 by 0.70 percentage points [4] Weekly Insights - North American tech giants are expected to continue increasing their capital expenditures significantly, driven by AI investments. For example, Amazon's capital expenditure is projected to grow by 55% to $75 billion this year [5] - Domestic companies in the computing power sector are validating the high demand for AI computing power, with several companies reporting substantial revenue growth [5] Investment Recommendations - The report suggests focusing on domestic computing power companies such as Haiguang Information, Cambrian, and Shenzhou Digital, as well as data element companies like Yihualu and Guoxin Health [7]