Nvidia(US:NVDA) Century Securities·2025-09-01 02:31Investment Rating - The report indicates a positive outlook for the TMT sector, particularly in the computing and AI infrastructure segments, suggesting potential investment opportunities in domestic computing chips and wafer foundry sectors [3][4]. Core Insights - The report highlights that global computing power demand is expected to grow rapidly, with NVIDIA projecting a market expansion to $3-4 trillion in AI infrastructure over the next five years, and a 50% annual growth rate in China's computing market, reaching $50 billion this year [3][4]. - Alibaba's Q2 2025 results show a 26% year-on-year growth in its smart cloud business, driven by strong AI demand, indicating a robust domestic computing demand cycle [3][4]. - The report emphasizes the importance of both domestic and overseas computing supply chains, recommending attention to sectors such as domestic computing chips and cooling solutions for overseas supply chains [3][4]. Weekly Market Review - The TMT sector saw significant weekly gains, with telecommunications up 12.38%, electronics up 6.28%, and computing up 1.34% [3][4]. - Notable stock performances included East Microelectronics with a 46.92% increase and Kaiyun Technology with a 133.74% increase in the computing sector [3][4]. Industry News and Key Company Announcements - NVIDIA's optimistic guidance on the computing power market and its substantial capital expenditure forecast of $600 billion from major cloud service providers and enterprises [3][4]. - The establishment of the "Advanced Storage AI Inference Working Group" in collaboration with major tech companies, marking a new phase in AI inference development in China [3][4]. - The report notes the rapid growth of the domestic computing market, with a projected annual growth rate of over 40% in intelligent computing scale by 2025 [3][4].