5G通信 数十万5G与信息领域关注者的头部科技媒体 近日，中国移动2025年至2026年集中网络云资源池七期工程计算型服务器超大采购订单中标候选人结果 正式公示，本次采购涉及计算型服务器总计8581台，仅目前已公布的两个标包不含税总金额就已达到约 20亿元。 文 赵哲超/5G通信 移动的算力"加码"逻辑 作为行业老兵，我见证了太多运营商的投资周期变化。这次移动的大手笔采购，绝非一时兴起，而是有 着清晰的战略考量。 从财务数据看，2024年中国移动算力领域投入475亿元，同比增长21.5%，占资本开支比重从21.7%提升 至27.5%。这个比例变化很有意思——在总体资本开支下降4%的情况下，算力投资逆势上扬，说明移动 已经把算力当作下一个增长极来布局。 从集采规模看，今年移动的算力采购确实"疯狂"。先是191亿元的AI训练服务器集采，紧接着50亿元的 AI推理服务器集采，现在又来了20亿元的网络云资源池服务器。短短一年内，仅服务器采购就超过260 亿元，这在运营商历史上都是罕见的。并且目前，标包3、4、5的中标候选人尚未公布，意味着此次大 规模集采的最终总金额仍有上升空间。 更关键的是，中国移动时任董事长、党组 ...

Core Viewpoint - Kyivstar has launched its first local pilot 5G project in Lviv, Ukraine, aiming to evaluate the technology's performance in urban conditions and expand coverage to other cities post-evaluation [1][2][3]. Group 1: 5G Pilot Project - The pilot project in Lviv is part of a broader initiative by the Ministry of Digital Transformation of Ukraine to enhance digital connectivity [1][2]. - Following successful evaluations, 5G coverage will be gradually expanded to cities like Kharkiv and Borodianka, with plans for Kyiv and Odesa in 2026 [2]. - The testing locations were chosen based on population density and infrastructure readiness, with a full-scale rollout contingent on the end of the war [2]. Group 2: Company Investments and Goals - Kyivstar is investing USD 1 billion from 2023 to 2027 to rebuild Ukraine's connectivity and digital infrastructure, which includes energy resilience and digital services [4][7]. - The company has already activated base stations for 5G in Lviv and conducted initial tests confirming its readiness for broader deployment [4]. - Kyivstar's 5G network achieved peak download speeds exceeding 2.4 Gbps during pre-launch testing, with ongoing efforts to modernize its 4G network [5]. Group 3: Social Responsibility and Market Position - Over the past three years, Kyivstar has allocated more than UAH 3.4 billion to support the Defense Forces and social projects amid wartime challenges [9]. - The company serves over 22.5 million mobile customers and is recognized as a leading digital operator in Ukraine, contributing significantly to the economy as a major taxpayer [6][9].

Core Viewpoint - AT&T Inc. is considered one of the most undervalued blue-chip stocks currently available for investment [1] Group 1: Analyst Ratings and Price Target - Scotiabank analyst Maher Yaghi has reduced the price target for AT&T from $30.25 to $29.50 while maintaining a 'Sector Perform' rating ahead of Q4 results [2] - The analyst anticipates positive revenue and EBITDA growth in the sector despite increased promotional activities in the wireless market during the holiday season, indicating a stable short-term outlook for AT&T's core operations [2] Group 2: Strategic Initiatives - AT&T has announced a partnership with American Airlines to provide free in-flight Wi-Fi to loyalty program members, which will be available on nearly all flights by early spring [3] - This initiative positions AT&T strategically in the growing in-flight connectivity market, potentially creating additional revenue streams [3] Group 3: Acquisitions and Network Enhancements - The FCC has approved AT&T's acquisition of UScellular spectrum licenses for $1.02 billion, which will enhance the company's network coverage, capacity, and performance [4] - This acquisition strengthens AT&T's long-term competitive positioning and supports growth in both wireless and broadband segments [4] Group 4: Company Overview - AT&T Inc. provides a range of telecom and technology services across the U.S. and Latin America, including wireless, wireline, and broadband offerings for both consumers and businesses [5]

Core Viewpoint - The Q3FY26 earnings season is expected to show significant profit growth, with brokerages divided on whether this indicates a sustained recovery or a temporary improvement [11] Earnings Projections - Emkay Global projects a 14.5% PAT growth driven by festive season demand and GST rate cuts, with BSE500 expected to grow 14% compared to 8.5% for Nifty [1] - JM Financial forecasts a 9.8% YoY PAT growth for Nifty in Q3, up from 8.4% in Q2, with notable growth in telecom (64%), autos (33%), and industrials (31%) [2] - Motilal Oswal anticipates 20 sectors to achieve double-digit growth, with telecom profits expected to increase 2.6x, cement up 66%, real estate up 64%, and capital goods rising 24% [3] Financial Sector Outlook - Axis Securities expects banks to deliver approximately 12.4% YoY credit growth, with management optimism around growth continuing [6][12] - Motilal Oswal forecasts financials, particularly NBFC-Lending, to grow 26% YoY, while private banks and PSBs are expected to contribute moderately [6][12] - Bernstein maintains an "overweight" stance on financials, telecom, and select consumption sectors, while introducing real estate as an overweight [6] Auto Sector Performance - The auto sector is projected to perform strongly, with Motilal Oswal forecasting a 25% YoY growth, benefiting from GST rate cuts and stable commodity prices [7][12] - Axis Securities highlights the auto sector's healthy earnings trajectory supported by favorable regulatory norms [7] Export-Oriented Sectors - Export-oriented sectors are facing challenges, with Axis Securities noting cautious client spending and pricing pressures as key risks for IT services, pharmaceuticals, and chemicals [8][12] - Nuvama anticipates weak profits in export sectors but strong performance in industrials and domestic autos [8][12] - Emkay warns of ongoing trade-deal uncertainties affecting export-oriented sectors, though recovery is expected in H2CY26 driven by improved retail credit flow [8][12] Stock Recommendations - Axis Securities recommends stocks including IDFC First Bank, Bajaj Auto, and UltraTech Cement [8] - JM Financial lists stocks such as Bharti Airtel, ICICI Bank, and Maruti Suzuki [9] - Motilal Oswal suggests stocks like SBI, Titan, and Infosys [10]

Core Insights - Indian equity markets experienced a significant decline, with the benchmark BSE Sensex falling by 2,185.77 points, or 2.54%, reflecting weak investor sentiment and heightened risk aversion due to renewed US tariff threats and rising geopolitical tensions [4][6] Company Performance - Reliance Industries saw its market capitalisation decrease by Rs 1,58,532.91 crore, bringing its total to Rs 19,96,445.69 crore, making it the largest loser in absolute terms [4][6] - HDFC Bank's valuation dropped by Rs 96,153.61 crore to Rs 14,44,150.26 crore [4][6] - Bharti Airtel's market capitalisation fell by Rs 45,274.72 crore to Rs 11,55,987.81 crore [4][6] - Bajaj Finance lost Rs 18,729.68 crore, closing at Rs 5,97,700.75 crore [4][6] - Larsen & Toubro's market capitalisation decreased by Rs 18,728.53 crore to Rs 5,53,912.03 crore [4][6] - Tata Consultancy Services (TCS) saw a decline of Rs 15,232.14 crore, resulting in a valuation of Rs 11,60,682.48 crore [4][6] - Infosys' market capitalisation edged lower by Rs 10,760.59 crore to Rs 6,70,875 crore [6] Positive Performers - ICICI Bank's valuation increased by Rs 34,901.81 crore to Rs 10,03,674.95 crore [5][6] - Hindustan Unilever added Rs 6,097.19 crore, reaching a market capitalisation of Rs 5,57,734.23 crore [5][6] - State Bank of India's market capitalisation rose by Rs 599.99 crore to Rs 9,23,061.76 crore [5][6] Market Overview - The combined market capitalisation of seven of India's ten most valued companies fell by Rs 3,63,412.18 crore last week [6] - Despite the overall losses, Reliance Industries remained the most valued company in India, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro [5][6]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - The demand for electricity from AI technologies, particularly data centers, is unprecedented, leading to concerns about power grid capacity and rising electricity prices [2][3] - A specific company is highlighted as a key player in the energy sector, poised to benefit from the increasing energy demands of AI, owning critical infrastructure assets [3][7][8] Energy Demand and Infrastructure - AI technologies, such as large language models, consume energy equivalent to that of small cities, raising questions about future energy supply [2] - The company in focus owns significant nuclear energy infrastructure, positioning it strategically within the U.S. energy landscape [7] - It is capable of executing large-scale engineering, procurement, and construction projects across various energy sectors, including oil, gas, and renewables [7] Financial Position and Market Potential - The company is noted for being debt-free and holding a substantial cash reserve, which is nearly one-third of its market capitalization [8] - It has an equity stake in another AI-related company, providing investors with indirect exposure to multiple growth opportunities without high premiums [9] - The stock is described as undervalued, trading at less than seven times earnings, which is attractive for investors looking for growth potential [10] Market Trends and Future Outlook - The ongoing trends of onshoring and increased U.S. LNG exports are expected to drive demand for the company's services, especially under the current political climate [5][14] - The influx of talent into the AI sector is anticipated to lead to rapid advancements and innovative ideas, further solidifying AI's role as a disruptive force in various industries [12] - The company is positioned to capitalize on the AI infrastructure supercycle, making it a compelling investment opportunity for those looking to engage in the AI energy boom [14]

Market Performance - France's equity benchmark CAC 40 increased by 63.18 points or 0.77%, reaching 8,306.65, as investors await U.S. non-farm payroll data that may influence the Federal Reserve's interest rate decision [1] - L'Oreal was the top gainer in the index, rising by 4.7%, followed by BNP Paribas with a 3.3% increase, and Hermes International which climbed 3.25% [1] Notable Gainers - Kering advanced nearly 3%, while Stellantis increased by 2.7%. Other companies such as LVMH, Capgemini, STMicroElectronics, Publicis Groupe, and TotalEnergies saw gains between 1.8% and 2% [2] Notable Losers - Euronext and Bouygues experienced declines of 3.3% and 2.5%, respectively. Orange fell nearly 2%, and Vinci, Safran, Societe Generale, and AXA dropped between 1.5% and 1.9% [3] Economic Data - Industrial production in France fell by 0.1% month-on-month in November 2025, following a 0.2% gain in October. Over the last three months, industrial production rose by 1.8%, while year-on-year output increased by 0.3% [4] - Household consumption in France unexpectedly decreased by 0.3% month-on-month in November 2025, contrary to market expectations of a 0.2% rise, reversing an upwardly revised 0.5% growth in October [4]

Core Insights - Keysight Technologies, Inc. has announced a significant advancement in end-to-end live new radio non-terrestrial networks (NR-NTN) connection in band n252, as defined by the 3GPP under Release 19 [1] - The demonstration, which is taking place at CES 2026, showcases live satellite-to-satellite (SAT-to-SAT) mobility utilizing Samsung Electronics' next-generation modem chipset [1] Company Highlights - The achievement marks a milestone in the development of NR-NTN technology, indicating progress in satellite communication capabilities [1] - The use of commercial-grade modem silicon and cross-vendor interoperability highlights the collaborative efforts in the industry to enhance connectivity solutions [1]

Core Insights - AT&T has partnered with Mitsubishi Motors North America to integrate advanced 5G connectivity into the Mitsubishi Outlander SUV, enhancing in-car connectivity without relying on a driver's smartphone [1][8] - The 5G network will provide ultra-fast data speeds, lower latency, and higher capacity, enabling real-time navigation, improved infotainment experiences, and remote software updates for vehicles [2][4] Company Developments - Selected upcoming Toyota models will also adopt AT&T's 5G for navigation, remote features, and fast in-car Wi-Fi, while AT&T collaborates with iM Media Labs to create a 5G-powered platform for AI-personalized in-car entertainment [3][8] - AT&T's 5G network positions the company to play a significant role in the rapidly expanding car technology market, providing enhanced digital experiences and a foundation for future innovations [4] Competitive Landscape - AT&T faces competition from Verizon, which is developing V2X technology for real-time vehicle communication, and T-Mobile, which offers 5G connectivity and services like Magenta Drive for BMW [5][6] Financial Performance - AT&T's stock has gained 8.1% over the past year, contrasting with a 0.9% decline in the industry [7] - Earnings estimates for 2025 have increased by 0.5% to $2.06, while estimates for 2026 remain at $2.25 [9] - AT&T trades at a forward price-to-sales ratio of 1.34, below the industry average of 1.79 [11]

Core Insights - Boost Mobile is enhancing its 2026 device lineup by introducing two budget-friendly Samsung devices: the Galaxy A17 5G smartphone and the Galaxy Tab A11+ 5G tablet, aimed at providing affordable access to advanced technology and 5G features for customers [1][4]. Device Features - The Galaxy A17 5G features a triple-lens camera for high-quality photography, a 6.7" display for streaming, AI capabilities for easier web searches, and a Super Fast Charging battery with up to 2TB of expandable storage [2]. - The Galaxy Tab A11+ 5G offers a family-friendly experience with an 11" screen, upgraded performance, long-lasting battery, and up to 6GB of memory and 128GB of storage, expandable to 2TB [3]. Pricing and Availability - Both devices are available at Boost Mobile's website and retail stores, with plans starting as low as $25 per month for unlimited data [4]. - The Galaxy A17 5G is offered for free to new customers who port their number and activate on the Boost Unlimited Plus plan, while the Galaxy Tab A11+ 5G is available for $99.99 with a new line on the Tablet Plan [7][9].