金吾财讯 | 三大运营商逆市上行，中国电信(00728)涨3.54%，中国联通(00762)涨2.51%，中国移动(00941)跟涨。
与此同时，A股中国电信(601728)涨5.26%，中国联通(600050)涨2.56%，中国移动(600941)涨1.25%。
华泰证券认为，在DeepSeek引领下，国内AI应用推广的深度和广度有望进一步加强，应用侧更加繁荣，带动流量及推理算力需求强劲增长，而电信运营商有望从三个维度受益：1）网：AI应用的繁荣伴随着数据流量需求的高增长，未来十年运营商来自数据流量的收入增长中枢有望提升；2）云：AI云计算在DeepSeek大模型的赋能下行业景气度提升，运营商云业务有望迎来收入的增长及利润率的改善，同时，数据中心业务有望受益；3）端：AI与智能终端加速融合，连接需求从“人与人”向“物与物”拓展。
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