According to the CITIC Construction Investment Research Report, OpenAI released GPT-5.2, which is the most capable model series in the field of professional knowledge work so far. The US will approve Nvidia's export of H200 chips to China. We continue to be optimistic about the AI computing power sector. In addition to continuing to be optimistic, the domestic chain also suggests paying attention to it. On the one hand, domestic chain companies have made many early adjustments, while North American chain optical module companies have recently reached new highs. On the other hand, with the increase in domestic GPU capacity and supply and the liberalization of the H200, it is expected to accelerate the pace of deployment of domestic AI computing power infrastructure.

According to the CITIC Construction Investment Research Report, OpenAI released GPT-5.2, which is the most capable model series in the field of professional knowledge work so far. The US will approve Nvidia's export of H200 chips to China. We continue to be optimistic about the AI computing power sector. In addition to continuing to be optimistic, the domestic chain also suggests paying attention to it. On the one hand, domestic chain companies have made many early adjustments, while North American chain optical module companies have recently reached new highs. On the other hand, with the increase in domestic GPU capacity and supply and the liberalization of the H200, it is expected to accelerate the pace of deployment of domestic AI computing power infrastructure.