券商中国·2025-08-12 08:40Core Viewpoint - The AI computing power and chip concept stocks have shown significant movement, with major stocks reaching historical highs, driven by favorable government policies and increasing demand for AI infrastructure [1][5][10]. Group 1: Market Performance - On August 12, A-shares saw a collective rise, with the Shanghai Composite Index up 0.50%, Shenzhen Component up 0.53%, and ChiNext Index up 1.24% [1]. - AI computing power concept stocks surged, with Cambricon Technologies hitting a 20% limit up and reaching a historical high, while Industrial Fulian rose over 9% to a new high [1][5]. Group 2: Government Initiatives - The Fujian Communication Administration issued a three-year action plan for high-quality development of new information infrastructure, aiming for a computing power scale of 9 EFLOPS by 2027 [1][7]. - The Sichuan Communication Administration and other departments released a plan to quadruple the computing power scale of telecom enterprises by the end of 2027 compared to 2024 [8]. Group 3: Company Performance - Industrial Fulian reported over 50% growth in overall server revenue in Q2, with AI server revenue increasing by over 60% year-on-year [6]. - Cambricon Technologies' market capitalization surpassed 350 billion yuan, while Industrial Fulian's market cap approached 790 billion yuan [5]. Group 4: Investment Opportunities - Analysts suggest focusing on the extended opportunities within the AI computing power supply chain, as global demand for AI infrastructure continues to grow [9][10]. - The PCB market related to AI is expected to see significant growth, with projections of reaching $5.6 billion and $10 billion in 2025 and 2026, respectively [10][11].