HTSC's research report indicates that, according to McKinsey's prediction, the scale of global servers, measured by energy consumption, will increase from 70GW in 2024 to 390GW, corresponding to a CAGR of 33%, driven by the fast-growing demand for AI large-model related computing power. Under the trend of construction of computing power infrastructure, we are bullish about three major investment opportunities: 1) Semiconductors: the demand in the HPC market may drive the global semiconductor market to exceed one trillion US dollars in 2030. We pay attention to investment opportunities such as digital chips, storage, and equipment; 2) Energy: The ultimate goal of AI is energy, and the global electricity consumption of data centers in 2030 will reach about 2.2 trillion kilowatt-hours, 3.6 times that of 2022. We are optimistic about the development opportunities of supporting equipment and nuclear power; 3) Hardware such as servers: Data centers will become scarce resources in the era of AI models, and servers as the core carrier will usher in rapid growth. We are paying attention to sectors with incremental opportunities such as PCB, packaging substrates, heat dissipation, optical modules, and optical chips.