① In 2024, telecom operators will increase capital expenditure related to computing power. China Mobile's computing power plan capital expenditure was 47.5 billion yuan, up 21.5% year on year; China's telecom industry digitization plan capital expenditure increased 4.1% year on year. ② According to the Tianfeng Securities Research Report, AI will accelerate the iteration and performance requirements of related infrastructure, more powerful AI models will require stronger computing power and interconnection capabilities, and the demand for computing power is continuous.
Since 2024, telecom operator intelligent computing centers will be put into intensive use. In the process of building digital infrastructure moderately ahead of schedule, the construction of intelligent computing centers has become a key driving force for telecom operators. In 2024, although the total capital expenditure of telecom operators declined, capital expenditure related to computing power increased. China Mobile's computing power plan capital expenditure was 47.5 billion yuan, an increase of 21.5% over the previous year; China's telecom industry digitization plan capital expenditure was 37 billion yuan, an increase of 4.1% over the previous year.
According to the 2024 government work report, it is stated that R&D applications such as big data and artificial intelligence will be deepened, the “Artificial Intelligence +” campaign will be launched, and an internationally competitive digital industry cluster will be built. Build digital infrastructure moderately ahead of schedule, accelerate the formation of a nationally integrated computing power system, and cultivate the computing power industry ecosystem. In the process of building digital infrastructure moderately ahead of schedule, the construction of intelligent computing centers has become a key driving force for telecom operators. In addition to China Mobile, China Telecom and China Unicom have also begun purchasing AI servers. According to the Tianfeng Securities Research Report, AI will accelerate the iteration and performance requirements of related infrastructure, more powerful AI models will require stronger computing power and interconnection capabilities, and the demand for computing power is continuous.
According to the Finance Federation's theme library, among the relevant listed companies:
Ruijie Network won the bid for China Mobile's 2023-2024 New Intelligent Computing Center (Intelligent Computing Phase I) network package in 2023, ranking second in share; it delivered 200G/400G data center switches on a large scale to help large Internet companies such as Ali, Tencent, Byte, Baidu, and Kuaishou build AI training infrastructure.
The cooperation between Hongxin Electronics and Suiyuan Technology includes the manufacture of Suiyuan Technology computing power boards and the manufacture of related servers.