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華西證券:互聯網大廠算力需求旺盛,看好算力租賃
華西證券指出,全球AI算力需求持續攀升,帶動算力租賃行業成爲市場焦點。互聯網大廠算力需求旺盛,看好算力租賃。阿里巴巴集團官方表示未來三年,阿里將投入超過3800億元人民幣,用於建設雲和AI硬件基礎設施。騰訊“計劃在2025年進一步增加資本支出,並預計資本支出將佔收入的低兩位數百分比。”騰訊今年的Capex將達到千億級別。H20被禁,下遊客戶將轉向算力租賃和國產算力來滿足旺盛的算力需求。我們判斷阿里一季度資本開支不及預期的主要原因是H20芯片出口管制,因此看好算力租賃行業爆發。
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