从个股来看，120股主力资金净流入均超1亿元，其中23股净流入金额均超3亿元。 6个行业获主力资金净流入。 据证券时报·数据宝统计，今日（1月26日）沪深两市主力资金净流出757.1亿元，其中创业板净流出 281.49亿元，沪深300成份股净流出95.23亿元。 行业板块方面，申万一级10个行业上涨，有色金属行业涨幅居首，达4.57%；石油石化、煤炭行业涨幅 居前，分别涨3.18%、2.07%；农林牧渔、非银金融、银行和通信等行业均小幅上涨。21个下跌行业 中，国防军工行业跌4.47%，居首；汽车、社会服务、电子、房地产和计算机行业跌幅居前，均超2%。 从资金流向来看，申万一级行业中，6个行业主力资金净流入。医药生物行业主力资金净流入金额居 首，为32.9亿元；通信行业主力资金净流入达25.19亿元，非银金融和银行行业主力资金净流入均超14亿 元；综合和美容护理行业主力资金净流入分别为4661.01万元、1873.98万元。 25个主力资金净流出的行业中，电子、电力设备和国防军工行业主力资金净流出均超110亿元，机械设 备、汽车、计算机和传媒行业主力资金净流出均超40亿元。 2股获主力资金大幅抢筹 4股尾盘净 ...

Investment Rating - The report suggests focusing on sectors driven by AI development, including servers, IDC, switches, switch chips, optical modules, and liquid cooling, as well as overseas markets for servers, switches, and optical modules [4]. Core Insights - China Unicom's Q1 2025 financial report shows growth driven by cloud and IDC data center businesses, with cloud revenue at 19.72 billion yuan, up 18.1% year-on-year, and IDC revenue at 7.22 billion yuan, up 8.8% year-on-year [1]. - Huawei's CloudMatrix 384 super node cluster, featuring 384 Ascend chips, is expected to accelerate domestic AI chip replacement and boost demand for optical modules [1]. - The demand for inference computing continues to grow as tech companies accelerate their investments in multimodal interaction and AI agents, exemplified by Tencent's AI assistant "Yuanbao" and OpenAI's new models [1][7]. - The three major telecom operators are steadily advancing cloud computing and computing power services, driving rapid growth in AI computing demand [3]. Summary by Sections Subsector Insights - **Servers**: 2025 is projected to be a year of significant growth in inference demand, with a shift from centralized cloud services to mass terminals requiring cost-effective dedicated chips. Domestic ASIC chip manufacturers like ZTE and Unisoc are expected to benefit [2][6]. - **Optical Modules**: The CloudMatrix system's architecture will significantly increase the demand for optical modules, with major domestic suppliers like LightSpeed Technology and Shijia Photonics poised for growth [2][10]. - **IDC**: The three major operators are increasing investments in computing power, with companies like DataPort and Runjian benefiting from the growing demand for data centers [3][13]. Key Data Updates - The telecom sector's main business revenue reached 295 billion yuan in the first two months of 2025, a year-on-year increase of 0.9% [17]. - The number of fixed broadband access users reached 675 million, with gigabit users accounting for 31.7% [18]. - The mobile internet traffic reached 55.39 billion GB, up 13.6% year-on-year [21]. Market Trends - The report indicates a steady upward trend in the telecom sector, with operators, optical modules, and servers showing robust growth [14][17]. - The IDC index has seen a decline of 2.17% this week, reflecting market fluctuations [13]. Company News - OpenAI has launched the GPT-4.1 series models, enhancing performance and cost efficiency, which is expected to drive demand for AI computing power [55]. - Major cloud providers like Microsoft, Google, and Amazon are significantly increasing their capital expenditures for AI and cloud services, indicating strong future demand for computing infrastructure [7].