谷歌亚马逊指引26年Capex高增,看好高速光模块行业景气度

方正证券
Feb 08

近期谷歌,亚马逊等北美CSP陆续披露2025年四季度财报,其中谷歌和亚马逊指引26年Capex继续高速增长。看好高速光模块市场继续受益于北美CSP26年Capex的高投入,巨大的AI算力训练与推理需求驱动AI算力集群scale-up/scale-out网络端部署,国内相关高速光模块企业有望维持高行业景气度。风险提示:北美CSP的Capex投入不及预期,高速光模块技术迭代不及预期,海外地缘政治风险等...

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