華西證券:算力主權化 國產算力加速推進
華西證券研報,算力主權化,國產算力加速推進當前時點,政策持續加碼智算基礎設施建設,國產算力迎發展機遇。同時運營商資本開支向算力傾斜,加大國產化算力佔比。我們認為,算力網絡方面將是長線投資熱點和方向,在全球算力主權發展過程中,競爭加速和芯片禁運等外部催化下,疊加國內AI大模型與應用的加速普及,國產算力發展成為當前市場熱點及明確方向。在萬卡集羣加速建設過程中,政府與運營商持續推動國產化比例提升,包括華為昇騰系列、以及以太網適配的國產算力廠商都在持續發力。重點關注國產AI芯片、交換機及交換機芯片、機櫃內的高速互聯、液冷應用等領域。
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