金吾财讯 | 中信建投发研报指，海外云厂商资本开支持续高速增长打消市场担忧，以及受益AI带动的强劲业绩表现，本周海外算力链板块表现亮眼。AI需求保持旺盛，展望今年，海外算力链的业绩预计将持续表现优异。随着时间推进，对于2026年的光模块行业需求逐步开始清晰，预计将持续乐观。芯片出口管制的短期压力或有所缓解，但仍需持续关注特朗普政府的新规走向。国内AI产业也在加速发展，建议关注。该行续指，目前，通信板块估值仍处历史较低位置，建议重点关注：一是算力板块景气度持续，可以精选高增速、低估值、强预期的个股配置；二是优质红利资产电信运营商；三是需求有望逐步恢复，业绩和估值可能修复的军工通信、海缆、物联网与智能控制器板块。
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