通信周跟踪：GTC前瞻另一个视角：重视推理与端侧

Investment Rating - The report maintains an "A" rating for the communication industry, indicating an expected outperformance compared to the benchmark index by over 10% [1]. Core Insights - The upcoming GTC2025 conference is anticipated to showcase significant advancements in technologies such as CPO, NVL144/288, and powerrack, with market expectations already high [2][14]. - The demand for computing power is shifting primarily towards inference-driven applications, with NVIDIA's chip iterations reflecting new inference needs [4][15]. - NVIDIA's edge chips are expected to lead a new wave of edge computing devices, aligning with current trends in model optimization and cost-effective deployment [8][17]. Summary by Sections Industry Trends - GTC2025 is expected to highlight NVIDIA's product advantages and new product roadmaps, which could catalyze investor sentiment [2][14]. - The B300/GB300 is projected to enhance computing power by 50% compared to B200, featuring 288G memory and 8TB/s bandwidth [1][14]. - NVIDIA's collaboration with TSMC on CPO technology aims to address bandwidth, latency, and energy consumption challenges in traditional optical modules [3][15]. Market Performance - The overall market saw an increase during the week of March 10-14, 2025, with the CSI 300 index rising by 1.59% [9][18]. - The top-performing sectors included liquid cooling (+7.94%), submarine cables (+3.85%), and wireless RF (+3.53%) [9][18]. Company Focus - Recommended companies for investment include domestic players like Unisplendour, Ruijie Networks, and overseas firms such as NewEase and Tianfu Communication, particularly in the computing power and edge AI sectors [8][18].