Guotai Haitong maintains an overweight rating on the overseas AI compute and
applications supply chain. The report says OpenAI and Anthropic’s rapid growth
both validates expanding AI model capability and is lifting demand across the AI
industry chain. Recommended focuses: (1) hardware suppliers supporting compute
expansion — GPU/ASIC, CPU, storage, advanced process nodes and packaging, and
semiconductor equipment; (2) cloud providers and infrastructure platforms
hosting AI workloads and distributing models; (3) application companies able to
deliver full-ecosystem, full-scenario deployments.
