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 nearly two decades, raising prices by approximately 15% for machine learning capacity blocks [4] - Nvidia's $2 billion investment in CoreWeave underscores the strong demand for AI computing power rental, further validating the high growth potential of the AI cloud infrastructure sector [5] - Meta's $6 billion long-term fiber supply agreement with Corning indicates robust demand for fiber optics, suggesting that prices may continue to rise due to supply constraints [6] Summary by Sections - **AI Cloud Infrastructure**: The report emphasizes the significance of AI cloud infrastructure (IAAS) and computing power rental as core components, with expectations of price increases benefiting these sectors [7] - **Recommended Stocks**: Beneficiary stocks in the AI public cloud include Alibaba, Tencent, and Baidu. For AIDC data centers, recommended stocks are Dawei Technology, New Idea Network, and Aofei Data. In computing power rental, stocks like Hongjing Technology and Xiechuang Data are highlighted. For liquid cooling and power supply in AIDC, recommended stocks include Yingweike and Shunling Environment [7] - **Fiber Optics**: Recommended stocks in the fiber optics sector include Hengtong Optic-Electric and Zhongtian Technology, with beneficiaries such as Changfei Fiber and Yongding Co [7]