通信行业周报：运营商积极参与布局AI大模型，24年光模块市场将同比增长45%

Investment Rating - The report maintains an "Overweight" rating for the communication industry [1]. Core Insights - AI Large Models: Operators are actively participating in the layout of AI large models, with China Telecom's AI Research Institute releasing the first voice recognition model supporting 30 dialects, which is expected to drive the development of the communication industry [1][4]. - Optical Modules: The optical module market for data communication is projected to grow by 45% year-on-year in 2024, driven by high demand for high-speed optical modules from cloud computing vendors and telecom operators [1][4]. - Satellite Internet: Chinese companies have submitted plans for a satellite constellation of 10,000 satellites, indicating a clear trend towards the development of satellite internet as a new communication model [1][5]. Summary by Sections 1. Core Insights and Investment Recommendations - AI large models are expected to continuously promote the development of the communication industry, benefiting operators as key players in the communication supply chain [1][4]. - The optical module market is anticipated to see a revenue growth rate of 27% in 2024, with overall revenue expected to reach $22.4 billion by 2029 [1][4]. - The report suggests focusing on the AI-driven computing power supply chain and long-term opportunities in satellite internet [1][5]. 2. Market Review - During the week of May 27-31, the A-share communication index fell by 0.73%, underperforming the CSI 300 index by 0.13 percentage points [7]. - The communication services sector showed a slight increase of 0.17%, while the communication equipment sector declined by 1.18% [7][8]. 3. Industry News (May 27-31) - In April 2024, the domestic smartphone shipment reached 24.071 million units, a year-on-year increase of 28.8%, with 5G smartphones accounting for 84.1% of the total [11]. - China Mobile announced a procurement plan for approximately 480,000 5G base stations for 2024-2025 [12]. 4. Company Dynamics (May 27-31) - Netcom Technology signed a strategic cooperation agreement with Huakun Zhenyu to advance liquid cooling solutions in data centers [16]. - LightSpeed Technology reported that its 400G and 800G optical modules have been shipped in bulk [17].