CSC Financial: Recommend attention to high-speed optical modules, AI servers, and data center supporting facilities.

CSC Research reports that Meta's Q3 revenue reached $64.601 billion, up 26% year-over-year, and it raised its full-year capital expenditure guidance to $135-145 billion, lifting the lower bound by $5 billion, continuously increasing its AI investments. Moonshot AI released Kimi K3.1 Pro, supporting a 1 million Token context and strengthening programming, 3D creation, and Agent capabilities. Unitree Technology held the World Physical AI Conference, where Wang Xingxing predicted that physical AI could see a breakthrough as early as 2027; Tesla's Optimus has started production and is in the early ramp-up phase, while Teradyne and Sereact are collaborating to advance industrial applications. The expansion of overseas AI capital expenditure and upgrades to domestic models continue to support computing power demand, and frontier models are extending into the physical world, which is expected to further open up space for robot applications as well as simulation training, edge computing, and on-device inference. We recommend paying attention to high-speed optical modules, AI servers, and data center supporting facilities, while also focusing on order and commercialization progress for physical AI-related sensors, edge computing, and core robot components.