Recently, I discovered a very interesting phenomenon: while everyone is still enthusiastically discussing various AI applications, market funds have already quietly moved upstream along the industrial chain. After reading Perfect World Optoelectronics’s latest earnings report that came in far above expectations, I finally managed to fully make sense of the logic. At present, the scale of AI computing power continues to expand, and demand for HBM high-performance memory is directly pushed to the limit. One high-end AI graphics card needs to be paired with over 100G.