Wang Xinyu, board secretary of UCloud, recently said that with AI demand surging this year, utilization at the company's Shanghai Qingpu intelligent computing center has kept climbing and is still rising, while securing a rack at its Ulanqab intelligent computing center is even harder than striking treasure. What intelligent computing centers face today is not a shortage of orders or customers, but whether delivery speed can keep pace with customer demand. As global demand for AI computing power expands, order visibility is becoming an important yardstick for gauging the prosperity of the industry chain. Unlike the past two years, when the market debated "whether AI would take off," the more noteworthy shift now is that AI investment logic is moving from concept-driven to performance-verified. In the first three quarters of 2026, A-share companies across the AI industry chain collectively delivered high-growth results, and the moment of profit realization across the chain has gradually come into view.