光通信概念股逆市走强 长飞光纤光缆(06869)涨5.12% 机构指今年1.6T光模块需求有望快速提升

金吾财讯
Jan 07

金吾财讯 | 光通信概念股逆市走强,截至发稿,长飞光纤光缆(06869)涨5.12%,剑桥科技(06166)涨4.27%,华虹半导体(01347)涨1.94%,汇聚科技(01729)涨0.69%。华泰证券表示,AI算力链方面,训练&推理需求共振向前,继续看好全球算力链该机构认为2026年或将迎来此轮AI第三次算力需求高增,看好海外与国内算力链投资机会:1)海外算力:光通信方面,2026年800G、1.6T光模块需求有望快速提升,龙头厂商以及上游核心物料环节(如光芯片)业绩有望延续高增态势;液冷方面,国内液冷产业链厂商出海进程提速,有望凭借国内制造业优势逐步实现全球市场份额提升;光纤光缆方面,看好26年空芯光纤在数据中心场景的产业化落地机遇;2)国产算力:超节点或为国产卡弥补与海外先进卡算力差距的必由之路,该机构预计26年有望成为国产超节点放量元年,其中ScaleUp为核心增量环节,此外国产卡集群放量有望带动网络配比提升,重点板块包括铜连接、交换机、交换芯片。国投证券近期研报指出,26年光模块市场或迎AI需求扩容与高端结构放量:新一轮AI算力建设驱动高速光模块需求高增。预计26年全球云厂商资本开支将延续上行通道,叠加AI集群扩容、新一代算力平台放量,以及1.6T/CPO等技术落地,共同构成核心驱动力。产业呈现双路径演进:其一,Scale-out通过叶脊架构横向扩展,光模块需求以“乘数效应”放大;其二,Scale-up通过突破铜缆带宽与距离限制,推动高端光模块在GPU机柜互联与内存池化等应用中加速渗透。

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