Recently, I organized a report on the industrial chain of AI Computing Power and related hardware ecosystems, categorizing the core suppliers by different dimensions. I'm sharing it for everyone's reference and discussion.

**AI Computing Power and Optical Communication Infrastructure**

This part is the foundation of the entire system. Zhongji Xuchuang basically holds a monopolistic position in the field of optical modules, exclusively supplying the 1.6T specification, making it the absolute leader. New Ease Technology closely follows, with its share in high-speed optical interconnection steadily increasing. Tianfu Communication focuses on the core components of optical engines and plays a platform role. Guangku Technology has considerable influence in OCS OEM and modulation solutions.

On the chip side, Saiwei Electronics' MEMS chips are used in switching cores, while Tengjing Technology has established a foothold in optical components and ring modulators. In the high-end PCB sector, Huadian's TPU board supply capability is outstanding, and Shennan Circuit's multilayer substrate and Computing Power support solutions are also rapidly iterating. These companies may seem niche, but they directly support the operation of the entire Computing Power infrastructure.

**Smart Hardware and Terminal Ecology**

From the application side, Luxshare Precision has a solid position in the whole machine OEM sector, with its core competitiveness in the connector field. Goertek has been deeply involved in acoustic and VR device OEM for many years. Camera modules serve as the visual entry point, and OFILM's solutions are widely applied. Industrial Fulian has layouts in smart homes and server protocols, while Crystal Optoelectronics has a clear technology route for optical waveguide chips and AR lenses. Longqi Technology is conducting joint R&D with the industrial chain in the direction of space terminals, and its prospects are worth paying attention to.

**Cloud Services and Enterprise Collaboration**

In the cloud distribution and technical support segment, Digital China, as a cloud distributor, is enhancing its deep integration with the ecosystem's APIs. Guanghuan New Network has advantages in data center operations in the Beijing-Shanghai region. Capital Online, as a platinum partner of the platform, provides technical support. Inspur Information's TPU clusters and customized server solutions are competitive in the enterprise market. These companies are key nodes connecting the cloud and application ends.

**Core Components and Power Solutions**

In the area of data center infrastructure, Changxin Bochuang's MPO connectors are essential, while Xinle Energy focuses on TPU power supplies and already has intended orders. Oulutong's power modules mainly supply North American customers. Qianzhao Optoelectronics' VCSEL chips are used in satellite applications. Although the two segments of power and connectivity may not be particularly eye-catching, they are crucial for system stability.

**Extension of the Autonomous Driving Industry Chain**

Hesai Technology's lidar has a leading advantage globally. Juguang Technology's launch module is reserving entry points in the industry chain. Ruikeda has accumulated experience in smart connectivity and international access certification. As an important application scenario for AI chips, the technological reserves of upstream component suppliers are also accelerating.

**AR/VR and Ecological Derivative Applications**

The inference adaptation of AI chips requires the MLU chip solution from Cambricon. Longsys's bridge chip solves the data transmission problem. Dongtian Micro has achieved multi-end coverage in optical filter devices. From the perspective of marketing and application promotion, BlueFocus, as an advertising agency, has connected to the ecological API. Yidian Tianxia is a dual-level primary partner in the overseas marketing field. This segment reflects the complete chain from hardware → application → commercial transformation.

The entire industrial chain, from the bottom layer of optical modules and chips, to the mid-layer of cloud infrastructure and OEM manufacturing, and then to the upper layer of terminal applications and marketing promotion, has formed a relatively complete ecological closed loop. Although the enterprises in each link have clear professional divisions, the synergistic effects among them are constantly strengthening. This整理 is merely a personal observation record and should not be used as a basis for any investment decisions.