华西证券：海外云厂商Capex预期修复持续推荐光模块

智通财经2025-05-06

智通财经APP获悉，华西证券发布研报称，海外主要云厂商公布25年1-3月季报，总计Capex约765.4亿美元，环比减少1.6%，同比增加64.0%。由NV引发的算力芯片升级催化了最新一轮的算力需求暴涨，受数据源限制、密度功耗、Scaling Law效率递减等多重因素影响下开源与闭源模型效用逐渐达到同一等级，在DeepSeek影响下训练算力成本大幅下降，对于算力需求下滑的担忧不止。该行认为，算力...

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华西证券：海外云厂商Capex预期修复 持续推荐光模块

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华西证券：海外云厂商Capex预期修复持续推荐光模块