On May 25, a research report from CITIC Construction Investment revealed that NVIDIA's performance in FY27Q1 surpassed market expectations. Customer demand has evolved from simply purchasing GPUs to encompassing full-stack solutions, including switching and interconnection technologies. It is anticipated that mass delivery of Vera Rubin cabinet products will commence in the third quarter, accompanied by a simultaneous increase in the value of CPUs, interconnection components, switching equipment, and other related segments. Future upgrades in AI infrastructure will focus on the entire ecosystem. The computing power network is being positioned as a national-level infrastructure, with annual construction investments projected to exceed RMB 1 trillion. This investment will cover various segments, such as computing power construction, management, scheduling, and operation. Operators, serving as the primary drivers in computing power network construction, have introduced token packages to explore implementation strategies for the consumer (C) end. Google I/O 2026 demonstrated that Google's AI industry layout has reached a full-stack stage, encompassing computing power infrastructure, models, application entry points, and end-side devices. The TPU8t/8i validates the long-term demand for both training and inference computing power, while Gemini3.5Flash and GeminiOmni enhance model speed, cost-efficiency, and multimodal capabilities.