AI Wave Drives Surge in Computing Power Demand, Listed Companies Actively Invest in Computing Infrastructure
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With the continuous development of the digital economy, especially the emergence of large AI models like ChatGPT this year and the rapid growth of related applications, the demand for computing power has been steadily increasing. Against this backdrop, the entire computing power-related industry chain is ushering in new investment opportunities, with many listed companies in the A-share market ramping up investments in computing infrastructure.
On July 28, the "Sugon Advanced Computing Center Project," jointly developed by Wuxi Economic Development Zone and Sugon, was officially signed and launched. Upon completion, the computing center will connect with the Taihu Quantum Computing Center and the Xuelang Computing Center to form a Taihu Lake computing network, collectively building Wuxi's advanced computing ecosystem and striving to create the "China Brain Valley."
On July 27, Zhenshi Tong announced that it had signed a strategic cooperation framework agreement with Shandong Shuifa Ziguang Big Data Co., Ltd. The two parties are committed to establishing an in-depth strategic partnership in the construction, operation, AI computing power services, sales, and promotion of next-generation intelligent computing centers. Previously, Zhenshi Tong disclosed a strategic cooperation framework agreement with Tom Cat, under which the two parties will collaborate in AI computing power support for intelligent computing centers and artificial intelligence, deepening related layouts.
Additionally, many listed companies have redirected fundraising efforts to bolster computing infrastructure. On July 24, Runjian Co., Ltd. announced plans to upgrade its computing power service capabilities on the basis of building a cloud computing center, intending to reallocate 200 million yuan in raised funds to the "Intelligent Computing Center Project" to provide P-level computing node services to customers. Hengxin Oriental previously stated that it would terminate its original fundraising project, the "VR Venue Operation Center," and redirect the funds to the "Artificial Intelligence Computing Power Platform Construction and Operation" project and permanently supplement working capital.
The surge in computing power investments by listed companies is driven by the significant increase in demand for computing power amid the AI wave. This year, the ChatGPT boom has prompted global tech giants to accelerate their deployment of large AI models. Data from the Beijing Municipal Bureau of Economy and Information Technology shows that over 80 large models have been publicly released domestically, with the pre-training data volume of AI models growing exponentially, fueling a surge in computing power demand.
According to disclosed semi-annual fund reports, public funds have significantly increased their holdings in the computing power-related industry chain. Shenwan Hongyuan Securities research indicates that in the second quarter of this year, the top ten computer stocks with increased holdings by active funds were concentrated in artificial intelligence and data element concepts. AI computing power stocks like Inspur Information, Sugon, and Unisplendour, as well as iFlytek in the large model sector and Foxit Software in the application sector, saw substantial increases in fund holdings during the second quarter.
In terms of secondary market performance, computing power-related concepts have continued to rise this year. Wind data shows that as of July 31, the AI computing power index has surged by 59.64%, the optical module index by over 150%, and optical communications by over 80%, significantly outperforming other Wind concept indices. Among individual stocks, Sugon, Inspur Information, and Foxconn Industrial Internet have doubled in value, with optical module manufacturer InnoLight Technology soaring by 370% year-to-date.
Hou Bin, an analyst at Great Wall Securities, stated that amid the AI development wave, China continues to strengthen the research and development of key products such as CPUs, GPUs, and servers. The momentum for computing power development is expected to grow steadily, with the entire upstream and downstream industry chain poised for rapid growth.