CITIC Construction Investment's research report highlights that on August 21, OpenAI slashed the pricing of its GPT-5.6 Sol API by more than 20%, a strategic move that significantly reduces the costs associated with invoking high-performance models. This price reduction is anticipated to spur the expansion of applications in high Token-intensive scenarios, such as AI agents and code generation, thereby further fueling the demand for inference computing power.

In parallel, Alibaba's latest quarterly financial results reveal that its AI Cloud and Computing Services division generated approximately 48.4 billion yuan in revenue, marking a robust 45% year-on-year growth. Notably, revenue from AI-centric products has sustained triple-digit growth for 12 consecutive quarters, underscoring the accelerating conversion of AI demand into tangible commercial value.

Against this backdrop, CITIC Construction Investment maintains a positive outlook on the prospects within the industry chain, encompassing optical modules, servers, liquid cooling solutions, and cloud computing services. This optimism is underpinned by the ongoing commercialization of large-scale AI models and the escalating demand for computing resources.