According to the Huatai Securities Research Report, in 2026, the AI industry is switching from pre-training large models to commercialized implementation of AI agents, and demand for inference computing power is entering a channel of accelerated growth. I am optimistic about the three main lines: the direction of the AI chain, the accelerated formation of domestic computing power, the acceleration of supernode interconnection and storage upgrades; the inflection point of reasoning demand is clear; new product cycles such as folding machines and AI glasses are approaching, and structural innovation opportunities are worth paying attention to; in the direction of power and passive components, AI power consumption drives the volume and price of MLCCs, inductors, capacitors, and power semiconductors, and the price increase cycle resonates with domestic alternatives; the autonomous and controllable direction, the localization process of upstream manufacturing, equipment, and components is accelerating, while the quantitative improvement of advanced packaging volume is increasing.

According to the Huatai Securities Research Report, in 2026, the AI industry is switching from pre-training large models to commercialized implementation of AI agents, and demand for inference computing power is entering a channel of accelerated growth. I am optimistic about the three main lines: the direction of the AI chain, the accelerated formation of domestic computing power, the acceleration of supernode interconnection and storage upgrades; the inflection point of reasoning demand is clear; new product cycles such as folding machines and AI glasses are approaching, and structural innovation opportunities are worth paying attention to; in the direction of power and passive components, AI power consumption drives the volume and price of MLCCs, inductors, capacitors, and power semiconductors, and the price increase cycle resonates with domestic alternatives; the autonomous and controllable direction, the localization process of upstream manufacturing, equipment, and components is accelerating, while the quantitative improvement of advanced packaging volume is increasing.