Tianfeng Securities: Core Investment Opportunities in AI Computing Power Industry Chain for 2026, Focus on AI Industry Trends and Applications

Stock News11-26

Tianfeng Securities released a research report stating that for 2026, it remains bullish on investment opportunities in the AI computing power industry chain. With continuous advancements in AI development in both China and the U.S., as well as ongoing progress in inference applications, the firm recommends sustained attention to AI industry dynamics and investment opportunities in AI applications.

The report highlights key investment themes such as "AI + Global Expansion + Satellite," emphasizing overseas AI segments like optical modules & components and liquid cooling as high-priority areas. Additionally, domestic computing power segments—including local servers, switches, AI data centers (AIDC), and liquid cooling—are also recommended for active monitoring.

The offshore wind industry is showing accelerated recovery domestically, while overseas expansion presents favorable opportunities. Investors are advised to closely track industry shifts, with leading submarine cable manufacturers being a core recommendation. Recent progress in China’s satellite internet sector also suggests potential for future growth driven by policy catalysts.

Key industry trends as of November 14, 2025, show the communications sector (Shenwan) rising 55.58%, ranking second among 31 industries and outperforming the ChiNext Index. Institutional holdings in communications reached 7.14% in Q3 2025, up 3.16 percentage points from Q2, indicating significant growth.

**1.6T Optical Modules Scaling Up, Silicon Photonics Penetration Expected to Rise** The GB300 is projected to ramp up production in Q4, driving demand for 1.6T optical modules. Silicon photonics solutions, with advantages in integration, peak speed, energy efficiency, and cost, are seen as a critical future direction. Lightcounting forecasts silicon photonics' market share in optical modules will rise from 27% in 2023 to 59% by 2030.

**AI Driving Data Center Switch Upgrades and Expansion** Per IDC data, data center switches were the only networking product with positive global growth in 2024. China’s switch market grew 5.9% YoY, with data center switches up 23.3%. AIGC-driven demand boosted 200G/400G equipment revenue by 132.0% and port shipments by 166.5%.

**Risk Warnings:** - Slower-than-expected AI application development. - Delays in low-orbit satellite technology progress. - Insufficient cultivation of deep-sea tech supply chains. - Intensifying market competition. - Risks from international trade friction.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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