According to CoinMeta, a research report by CITIC Securities states that Tencent's capital expenditure in the second quarter of 2026 far exceeded expectations, and it will continue to strengthen the construction of artificial intelligence infrastructure and the procurement of domestic computing power in the future. Looking ahead to the second half of 2026, the clarity of orders for domestic computing power is expected to increase further, and the pace of supply chain inventory buildup will accelerate. It is recommended to pay attention to leading manufacturers in the domestic computing power industry chain.