With the rapid development of artificial intelligence, big data, and cloud services, the computing power industry chain is facing an unprecedented growth opportunity. From semiconductors to cloud services, the market size of the entire industry chain is expected to break through the trillion-dollar mark by 2025, showing huge investment potential and development prospects.

1. Growth Points of the Industry Chain

Computing power chips and AI servers are leading the growth of the industry chain. It is expected that by 2025, the global AI computing power chip market size will approach $300 billion, and the AI server market size is expected to reach $450 billion, accounting for 3/4 of the entire server market. The revenue elasticity of these two areas is expected to reach 4 times, far exceeding other sub-markets.

Optical modules and network equipment are also indispensable important links in the computing power industry chain. The AI optical module market size is expected to reach $18 billion by 2025, with elasticity exceeding 200%. At the same time, the switch market size is expected to reach $28 billion, with elasticity of 70%.

2. Examples of Listed Companies

In this golden development period, many listed companies are standing at the forefront of the computing power industry chain:

NVIDIA: As a global leader in AI chip manufacturing, NVIDIA's GPUs play an important role in AI training and inference.

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Intel: As a traditional semiconductor giant, Intel holds an important share in the server CPU market, and it is expected that the shipment of AI server CPUs will approach 7 million, with a market space exceeding $20 billion.

Inspur Information: As China's largest server manufacturer, Inspur Information has a significant market share in the AI server field.

Dawning Information: Focusing on high-performance computing, Dawning Information has a deep layout in the field of computing power networks and platforms.Tianfu Communication: In the field of optical modules, Tianfu Communication provides crucial technical support and product supply.

3. Investment Trends and Risks

Domestic substitution and vertical integration are set to become significant trends in the development of the computing power industry chain. It is anticipated that by the end of 2024, domestically produced chip products may become cost-competitive with A100, achieving initial commercial viability. Concurrently, AI servers are evolving from modular to high-density integration, necessitating server manufacturers to possess enhanced vertical integration capabilities.

Green and low-carbon development is also key to the future growth of the computing power industry chain. Against the backdrop of dual carbon goals, energy conservation and emission reduction have become critical issues for the development of the computing power industry. Enhancing green development standards and employing more advanced energy-saving technologies, as well as integrating green and clean energy sources, are essential for future development.

However, investing is not without risks. Intense market competition and rapid technological iteration can impact investment returns. Therefore, investors should focus on a company's core technology, market share, and financial health when selecting stocks in related fields. Additionally, the uncertainty of the global economic environment poses potential risks to this industry.

Conclusion

The computing power industry chain is in an unprecedented golden period of development, with each link from chips to servers, from optical modules to network equipment, holding significant growth potential.