According to CoinMeta, a research report by CITIC Securities indicates that in the first three quarters of 2026, the revenue and net profit attributable to the parent company in the communications sector increased by 6.78% and 8.32% year-on-year respectively, with the growth rate further accelerating in the third quarter. The net profit attributable to the parent company in the testing instruments, GPU / ASIC sectors, and the cable sector increased by 1160%, 720%, and 214% respectively in the first three quarters. In the third quarter, the upstream sector PCB saw a growth of 661%, and the demand for AI computing power and related components continued to rise. In the third quarter of 2026, the market value of public funds' holdings in the communications industry was 464.567 billion yuan, maintaining a high proportion of holdings, which were concentrated in the leading AI optical communications companies. On October 30th, the communications index PE-TTM was at 34.1 times, with the previous overvaluation having been significantly reduced, and the market is now more focused on the realization of performance. North America continues to increase investment in AI infrastructure, and CITIC Securities has a long-term positive view on the North American and domestic AI computing power industry chain, paying attention to high-speed optical interconnection, GPU / ASIC, and related infrastructure.