CITIC Construction Investment: Continually Optimistic About the Artificial Intelligence Industry Chain

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Gold Finance reports that on June 6th, CITIC Securities issued a report stating that as the global large model industry enters a new stage of high-quality development characterized by "efficiency priority, commercial implementation, and ecosystem reconstruction," investment in global computing infrastructure remains strong. Capital expenditure by the four major CSP providers in North America is expected to increase by 70.25% year-over-year in the first quarter of 2026, with the full year projected to reach as high as $710 billion (median estimate), and companies like Google have indicated that investments will significantly increase by 2028. Several core links in the computing industry chain are expected to continue benefiting.
The bank believes that the artificial intelligence industry is thriving, with large models achieving a business closed-loop driven by applications such as programming, and ARR is experiencing explosive growth. We are very likely to see large model companies with ARR reaching around $200 billion by 2026. The bank remains optimistic about the AI industry chain, continuously recommending large model companies and core links in the computing industry chain, including GPUs, optical modules, optical chips, optical communication supporting instruments and equipment, optical fiber cables, liquid cooling, power supplies, and also suggests paying attention to the potential of MicroLED as an optical interconnect solution.
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