行 业 研 究 2026 年 01 月 28 日 投资评级：看好（维持） 行业走势图 -26% 0% 26% 53% 79% 106% 2025-02 2025-06 2025-10 通信 沪深300 数据来源：聚源 相关研究报告 《重视 AI 云 IAAS 稀缺性：AIDC 及 算力租赁—行业点评报告》-2026.1.27 《重视边际变化：卫星和国产 AI 链— 行业周报》-2026.1.25 《重视硅光和 CPO 链投资机会—行业 点评报告》-2026.1.21 重视通信涨价方向：AI 云 IAAS 和光纤 ——行业点评报告 蒋颖（分析师） jiangying@kysec.cn 证书编号：S0790523120003 亚马逊 AWS 宣布涨价，AI 云基础设施稀缺性或日益凸显 2026 年 1 月 23 日，全球云计算巨头亚马逊云科技宣布对其面向大模型训练的 EC2 机器学习容量块实施约 15%的价格上调，这是 AWS 长达约二十年首次打破。 "只降不涨"的定价传统。机器学习容量块是 AWS 为应对高性能 GPU 等稀缺 计算资源供需失衡所推出的定制化服务模式，用户可提前预订指定型号的 GPU 实例，确保 ...

Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The report highlights the increasing scarcity of AI cloud infrastructure, as evidenced by Amazon AWS's first price increase in 20 years for its EC2 machine learning capacity blocks, which rose by approximately 15% [4] - NVIDIA's investment of $2 billion in CoreWeave aims to enhance AI computing capacity, further validating the high demand for AI cloud infrastructure [5] - Alibaba's launch of the Qwen3-Max-Thinking model, with over 1 trillion parameters and 36 trillion tokens of pre-training data, positions it as one of the strongest domestic AI models, likely driving demand for AI cloud infrastructure [6] Summary by Sections AI Public Cloud - Beneficiaries include Alibaba, Tencent, and Baidu [7] AIDC Data Centers - Recommended stocks: Dawi Technology, New Idea Network Group, Aofei Data, Guanghuan New Network, Runze Technology - Beneficiaries include Century Interconnect, Global Data, Wangsu Science and Technology, Dongyangguang, Dataport, and Kehua Data [7] Computing Power Leasing - Beneficiaries include Hongjing Technology, Xiechuang Data, Capital Online, Runjian Shares, Yunsai Zhili, Zhiwei Intelligent, and Hangjin Technology [7] AIDC Liquid Cooling & Power Supply - Recommended stock: Yingweike - Beneficiaries include Shenling Environment, Yinlun Shares, Tongfei Shares, Gaolan Shares, Zhongheng Electric, Kehua Data, Kete Power, and Weichai Heavy Industry [7]