山西证券研究早观点-20251016

Core Insights - The report emphasizes a positive outlook on the AI computing sector, particularly for domestic computing supernodes, despite ongoing trade tensions between China and the US [5][6] - Significant capital expenditure is anticipated in the AI sector, with OpenAI's partnerships with NVIDIA and AMD indicating a substantial increase in computing power and investment [5] - The domestic supernode server market is expected to see significant growth by 2026, driven by advancements from major companies like Huawei and Alibaba [5][6] Market Trends - The report notes fluctuations in major domestic market indices, with the Shanghai Composite Index closing at 3,912.21, up 1.22% [4] - The communication sector is highlighted as a key area of focus, with ongoing developments in overseas optical modules and domestic computing supernodes [5] Industry Commentary - The report discusses the impact of recent trade negotiations, suggesting that market participants should remain calm and consider increasing positions during market dips [5] - It highlights the strategic partnerships formed by OpenAI with major tech companies, which are expected to drive demand for optical modules and related technologies [5][6] - The report identifies key players in the optical module and supernode server markets, recommending companies such as ZTE, Inspur, and Unisoc for potential investment opportunities [7][8]