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中信建投:算力行業高景氣度持續驗證 估值或有提升空間
中信建投研報表示,AI算力板塊催化不斷。相關公司業績預吿快速增長,Meta將投資數千億美元建設幾座大型數據中心。OpenAI宣佈將在ChatGPT中推出一款通用型AI智能體。英偉達將恢復向中國銷售H20,並宣佈推出一款全新、合規的面向中國的GPU。中信建投繼續推薦算力板塊:一是業績持續高增長且估值仍處於歷史較低水平的北美算力鏈核心標的;二是有望享受外溢需求、取得客户或份額突破的公司;三是上游緊缺的環節;四是隨着GB300的批量出貨,建議重點關注1.6T光模塊及CPO產業鏈。五是建議關注國產算力鏈。此外,中信建投認為隨着大模型的不斷迭代,產業將向通用人工智能方向發展,AI應用仍值得期待,疊加宇樹IPO,建議關注AI端側芯片、模組等產業鏈。此外,中信建投仍繼續推薦電信運營商、軍工通信等板塊。
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