通信设备及服务行业2024年第21周周报：海外大模型升级，国内AI基建军备竞赛升温

Investment Rating - The report maintains an "Overweight" rating for the industry, consistent with the previous rating [1]. Core Insights - The release of the ChatGPT-4o model and the upgrade of Google's Gemini highlight advancements in AI capabilities, particularly in multi-modal input processing, which can significantly enhance user interaction and application potential across various sectors [3][6]. - China Mobile has initiated a large-scale AI server procurement, totaling 8,054 units, marking a significant step in the AI infrastructure race among operators [4][6]. - The report emphasizes the need for investment in optical interconnects and identifies several key investment themes, including low-altitude economy, satellite communication, and IoT, driven by economic recovery expectations [4][6]. Summary by Sections AI Model Developments - ChatGPT-4o can process text, audio, images, and video inputs, enhancing its understanding and interaction capabilities [3][6]. - Google's Gemini series includes advanced models and tools aimed at improving AI functionalities across various applications [3][6]. China Mobile's AI Infrastructure - China Mobile's procurement includes 7,994 AI servers and 60 white-box switches, with a total contract value of approximately 19.104 billion yuan [4][6]. - The company plans to deploy nearly 60,000 GPU cards to support large model training and will establish a distributed computing network across 1,500 edge nodes [4][6]. Investment Recommendations - The report suggests focusing on investments in optical interconnects, state-owned enterprises with stable growth, and emerging themes in low-altitude and satellite communications [4][6]. - Specific companies recommended for investment include NewEase, Tianfu Communication, and Guangxun Technology, among others, based on their potential to benefit from increased demand and technological advancements [4][6].