Group 1 - The core viewpoint is that AI interconnectivity is driving high prosperity in the telecommunications industry, with Credo's FY26 Q2 revenue increasing by 272% year-on-year and 20% quarter-on-quarter, primarily driven by rapid growth in AI data center interconnects [1] - Credo maintains a leading gross margin of 67.7%, indicating strong profitability in the industry [1] - The demand for DCI is surging, coupled with rising costs, leading to price increases for related optical modules, particularly ceramic shells, which are becoming a critical supply constraint [1] Group 2 - The expansion of AI clusters is enhancing the BOM share of core customers, significantly increasing customer stickiness [1] - The Guotai AI ETF (159388) tracks the AI index (970070) and has experienced a daily fluctuation of 20%, reflecting the performance of companies involved in AI technology development and application [1] - The index focuses on sectors such as information technology and intelligent manufacturing, indicating a strategic industry allocation [1]