AIDC行业专题报告：国内智算中心建设提速，重视产业链相关机遇

Investment Rating - The report maintains an "Overweight" rating for the communication industry [1]. Core Insights - The AIDC (Artificial Intelligence Data Center) industry is experiencing accelerated construction in China, creating significant opportunities across the supply chain [3]. - The market size of China's AIDC is expected to reach 288.6 billion yuan by 2028, with a compound annual growth rate of 57.09% from 2020 to 2028 [12]. - The demand for AI large models is driving the need for high-performance networks with ultra-high bandwidth and low latency [20][22]. - The report highlights the importance of domestic AIDC operators, AI servers, switches, and related components as key investment opportunities [41]. Summary by Sections 1. AIDC Industry Development Status - AIDC provides a stable computing environment for AI training and inference, integrating high-performance computing, high-speed networks, and advanced software systems [7]. - The AIDC market is projected to grow significantly, with a market size of 879 billion yuan in 2023, reflecting over 90% year-on-year growth [12]. - The AIDC service ecosystem includes various players from infrastructure to application services, catering to diverse industries such as finance, telecommunications, and transportation [8][10]. 2. AI Large Model Network Requirements - AI large models require ultra-large-scale networking, ultra-high bandwidth, and ultra-low latency to support their computational demands [20][22]. - The training of large models necessitates thousands of GPUs, leading to increased network demands compared to traditional cloud data centers [20]. - The evolution of network architecture from traditional three-tier to Clos and direct connect topologies is essential for meeting the needs of AIDC [20][22]. 3. AIDC Network Architecture - The AIDC network architecture consists of compute nodes, backend networks, frontend networks, and inter-data center connections, designed to optimize performance [23][24]. - High-performance networks are crucial for AIDC operations, requiring configurations that support high bandwidth and low latency [28]. - InfiniBand and RoCEv2 are highlighted as key network solutions, with InfiniBand offering superior performance for large-scale deployments [39]. 4. Investment Recommendations - The report suggests focusing on AIDC service providers such as China Unicom, China Telecom, and China Mobile, as well as AI server manufacturers like Inspur and ZTE [41]. - Investment opportunities also extend to components like switches, optical connections, and temperature control systems [41].