金吾财讯 | 中金公司发文研究称，超级光互联周期打开超越AI行业beta的长期成长空间。本次光博会中，Scale-up、Scale-across与Scale-in的增量场景需求被重点关注，我们认为光连接的边界正由跨机柜网络延伸至超节点、板级、芯片间乃至封装内等场景。作为产业近期新生的概念，Scale-in尚无完全统一的产业定义，通常指更靠近计算芯片的短距互联，其速率、带宽密度和能效要求将显著高于传统网络。中金公司认为，AI算力增长是贯穿多年的行业主线，而光互联行业，在连接数量增加之外还叠加速率升级、铜转光、网络层级扩展和单机价值量提升等逻辑，有望形成持续高于算力投资增速的结构性成长。
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