By 2024, China's leading telecom operators—China Mobile, China Unicom, and China Telecom—saw a steady rise in performance, marked by significant improvements in both revenue and profitability. This robust financial standing prompted plans for substantial dividend payouts. Looking ahead to 2025, these operators collectively anticipate a total capital expenditure of RMB 289.8 billion. Despite a slight decrease in overall investment scale, the proportion dedicated to artificial intelligence (AI) and computing power continues to climb, signaling a pivotal shift in their developmental strategies. All three operators have bolstered their investments in smart computing centers and AI applications, introducing a slew of AI-related products and services aimed at driving business transformation and upgrading. Specifically, China Mobile aims to achieve a smart computing capacity exceeding 34 EFLOPS by the end of 2025, while China Telecom targets 35 EFLOPS in intelligent computing resources. China Unicom, too, plans to surpass 17 EFLOPS in smart computing scale. These initiatives underscore the importance that all three operators place on AI as a transformative development opportunity, signaling their commitment to evolving into technology service providers.