Microsoft and Amazon Earnings Show One Thing: Computing Power Is Still Rigid Demand

English summary

### Microsoft and Amazon Earnings Show One Thing: Computing Power Is Still Rigid Demand Time: 2026-07-31 12:46:22 Content: 1. First tier: pure Nvidia high-end computing power leasing (strongest earnings elasticity, main capital target). 1. Litong Electronics 603629 (sector performance leader): Nvidia Preferred top partner, high priority for card supply; dispatchable 38,000 P high-end computing power, mainly H100/H800/B100, overall fully leased; locked in a three-year computing power long-term order of RMB 5 billion from Tencent, gross margin for computing power business over 53%, significant pre-increase in 2026 interim results, strongest cash realization ability among pure computing power leasing targets. 2. Xiechuang Data 300857: integrated computing power + server ODM, self-owned 30,000 P computing power, expanding to 50,000 P within the year, bound to top large model customers such as DeepSeek, self-built intelligent computing center + liquid cooling cluster, multi-node layout at home and abroad, high utilization rate, high institutional recognition. 3. ...