通信行业研究周报：海外持续加码AI投入，Deepseek加速AI大时代

Investment Rating - The industry rating is maintained at "Outperform" [9] Core Views - The report highlights a significant increase in AI investments from major overseas companies, with Amazon planning to raise its capital expenditure to $100 billion by 2025, surpassing last year's $83 billion [15][21] - Google is also increasing its AI spending to $75 billion this year, exceeding market expectations by 32% [15][21] - The report suggests that 2025 may mark a pivotal year for domestic AI infrastructure and applications, driven by both international and domestic demand [3][21] Summary by Sections Artificial Intelligence and Digital Economy - Key recommendations include companies in optical modules and devices such as Zhongji Xuchuang, New Yisheng, Tianfu Communication, and Yuanjie Technology [24] - For switch server PCBs, recommended companies include Huadian Co., ZTE, and Unisplendour [24] - High dividend and low valuation stocks include China Mobile, China Telecom, and China Unicom [24] - In AIDC and cooling solutions, recommended companies are Yingweike, Runze Technology, and Runjian Co. [24] - For AIGC applications and edge computing, key recommendations include Yiyuan Communication, Guanghetong, and Meige Intelligent [24] Marine Wind Cable & Intelligent Driving - Key recommendations for marine wind cables include Hengtong Optic-Electric, Zhongtian Technology, and Oriental Cable [26] - For overseas recovery and leading companies, recommended stocks include Huace Navigation, Weisheng Information, and TuoBang Co. [26] - In intelligent driving, focus on modules and terminals from Guanghetong and Meige Intelligent [26] Satellite Internet & Low Altitude Economy - The report emphasizes the acceleration of low-orbit satellites and low-altitude economy, recommending Huace Navigation and Haige Communication [27] Market Performance Review - The communication sector rose by 2.69% in the week of February 5-7, outperforming the CSI 300 index by 0.71% [29] - Notable individual stock performances included Jinglun Electronics and Mengwang Technology, both showing significant gains [31]