A股算力板块全面爆发

Core Viewpoint - The computing power sector has experienced a significant surge, becoming one of the most prominent investment themes in the A-share market, particularly driven by AI chips, AI servers, optical modules, and liquid cooling technologies [1][4]. Group 1: Market Performance - On August 13, 2025, the computing power sector saw explosive growth, with several stocks reaching new highs, including Cambricon, Industrial Fulian, and leading optical module companies like Zhongji Xuchuang and Xinyi Sheng [1]. - The optical module index rose by 6.24%, while other related indices also showed strong performance, indicating a broad market interest in this sector [2]. Group 2: Key Drivers - Four main factors are driving the growth of the computing power sector: 1. Nvidia's potential easing of sales policies to China, which has positively impacted related stocks [8]. 2. A significant increase in capital expenditures from North American cloud companies, with a total projected spending of $159.38 billion in the first half of 2025, marking a 24.4% year-on-year increase [8]. 3. The intensive release of global AI large models, such as OpenAI's GPT-5, which has increased demand for computing power [9]. 4. Breakthroughs in the domestic computing power supply chain, with companies like Huawei making significant technological advancements [10]. Group 3: Sector Highlights - Cambricon's stock reached a new high of 868 CNY, closing at 860 CNY, with a market capitalization of 359.8 billion CNY, despite rumors regarding its order forecasts [4]. - Industrial Fulian's stock also hit a record high, closing at 43.68 CNY with a trading volume exceeding 10 billion CNY, reflecting strong market enthusiasm for AI server leaders [4]. - In the optical module sector, companies like Xinyi Sheng and Zhongji Xuchuang saw significant stock price increases, with Xinyi Sheng rising by 15.55% to 236.56 CNY [5]. Group 4: Liquid Cooling Technology - Liquid cooling technology has gained traction due to its necessity in meeting the cooling demands of high-power AI chips, with several stocks in this area experiencing gains of over 12% [5][6]. - The global liquid cooling market is expected to exceed 200 billion CNY by 2025, with China accounting for 35% of this market [6]. Group 5: Future Outlook - Analysts are optimistic about the performance of leading companies in the computing power sector, with projected net profit growth for several firms exceeding 100%, including Huafeng Technology with a forecasted increase of 1479% [10].