[Huatai Securities: AI computing power construction is pushing industrial competition to extend to system links such as general computing and advanced packaging] On September 8th, Huatai Securities Research reported that Huatai Securities organized the 2026 Autumn Strategy Meeting from September 2nd to 3rd, at which exchanges centered on various subdivisions of AI computing power infrastructure. Huatai Securities found that the construction of AI computing power is pushing the industrial competition to extend from single accelerators to system links such as materials, interconnections, general computing and advanced packaging: 800G and 1.6T optical module iterations drive the demand for active optical chips, and the high specifications, yields and stable delivery capabilities of InP substrates are more critical, and the domestic supply chain accelerates verification and introduction; AI Data centers have significantly increased the amount of fiber used, and the light rod expansion cycle is long. The supply and demand of high-performance fiber is expected to be tight, and new technologies such as hollow-core fiber are accelerating the evolution; continuous planning of intelligent agents, tool calling and multi-task collaboration increase the value of CPU orchestration and scheduling; large-size, high-density packaging upgrades open up new application space for glass substrates, and mass production capabilities will determine the pace of industrialization.