通信行业周报：重视AIDC基建，推荐“四大四小”

Investment Rating - The report maintains a "Buy" rating for several key stocks in the AIDC infrastructure sector, emphasizing the importance of this area for future growth [26][34][65]. Core Insights - The report highlights the increasing capital expenditure by major domestic internet companies such as ByteDance, Tencent, and Alibaba towards AI, which is expected to benefit various segments of the AIDC supply chain, including chip manufacturers, server and communication device suppliers, and optical communication firms [6][20][21]. - OpenAI's recent service interruptions, attributed to power failures at Microsoft's data centers, underline the critical importance of stable power supply for data centers, which is essential for the operation of AI services [6][12][29]. - The launch of the DeepSeek-V3 model, with 671 billion parameters, is noted for its competitive performance against leading models like GPT-4o, indicating advancements in AI capabilities [14][85][86]. Summary by Sections Investment Strategy - Emphasis on AIDC infrastructure as a key investment area, recommending a focus on both large and smaller companies within this sector [11][27][65]. Market Review - The communication sector has seen a decline, with optical communication performing relatively well amidst the downturn [12][38][76]. Weekly Focus - The report stresses the importance of AIDC infrastructure and recommends a selection of "Four Big and Four Small" companies that are well-positioned to benefit from the ongoing trends in AI and data center expansion [49][65]. Company Recommendations - Key stocks recommended include: - Major players: ZTE Corporation, Ruijie Networks, Cambricon Technologies, and Guangxun Technology. - Smaller firms: Meige Intelligent, Dekoli, Taicheng Light, and Dongtian Micro [21][65][74]. Recent Developments - The report discusses the recent power outages affecting OpenAI's services and the implications for data center operations, highlighting the need for reliable power solutions [6][29][60]. - The anticipated growth in the AI-driven market, particularly in high-speed cable sales, is projected to double by 2029, reaching $6.7 billion [96]. Technology Advancements - The introduction of new models and technologies by companies like Amazon Web Services is noted, which aims to enhance AI capabilities and reduce operational costs [103][134]. Conclusion - The report expresses a long-term positive outlook on the computing power sector, particularly focusing on domestic computing capabilities and related industry developments [65][74].