铜链接专题：算力需求高增，高速铜互联持续发展，看好相关产业链投资机会

Investment Rating - The report maintains a "Buy" rating for several companies in the communication sector, including Guange Intelligent (002881.SZ), Zhongji Xuchuang (300308.SZ), Tianfu Communication (300394.SZ), China Mobile (600941.SH), and China Telecom (601728.SH) [2]. Core Insights - The demand for computing power is rapidly increasing, driven by advancements in AI and the need for high-speed copper interconnects [2][21]. - Nvidia's recent performance exceeded expectations, with Q1 FY25 revenue reaching $26 billion, a year-over-year increase of 262%, and net profit of $14.88 billion, up 628% [18][21]. - The Ethernet speed is evolving towards 800G and 1.6T, with significant upgrades in port speeds and transmission rates, which will benefit the copper cable and connector industries [29][38]. Summary by Sections 1. Recent Market Performance - The communication index fell by 2.89% during the week of May 20-24, 2024, underperforming the CSI 300 index, which declined by 2.08% [10]. 2. Weekly Topic Analysis 2.1 Nvidia's Copper Cable Connection Solution - Nvidia introduced a new AI computing platform, Blackwell, and a supercomputer design, GB200 NVL72, which utilizes 5,000 copper cables to connect GPUs, significantly reducing costs and energy consumption [18][21]. 2.2 Increasing Demand for Computing Power - The demand for computing power has been growing exponentially, with AI training tasks requiring increasingly robust infrastructure [22][24]. 2.3 Rapid Development of High-Speed Interconnects - The physical network links are evolving to meet the challenges posed by increasing SerDes rates, with various solutions like passive copper cables and active optical cables being deployed [29][36]. 3. Communication Industry Dynamics - Key developments include collaborations between major telecom companies and universities to innovate in optical communication technologies and the rollout of 5G-A technologies [39][40]. 4. Related Investment Targets - Recommended stocks include major telecom operators like China Mobile, China Telecom, and various technology firms involved in optical modules and data centers [43][44].