REAL-TIME GLOBAL RESEARCH
Investor Presentation | China‘s AI Path | Asia Pacific
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September 16, 2026 02:06 PM GMT
Investor Presentation | China's AI Path | Asia Pacific
Morgan Stanley Asia Limited+
Gary Yu
Equity Analyst
Rmb8.5tr Capex into 3x
Compute
Tom Tang
Equity Analyst
Yang Liu
Equity Analyst
We forecast Rmb8.5tr total capex, 2026-30E, supporting IT
capacity reaching 81GW by 2030E. We address the financing
need and ROIC. We are OW AI infra (BABA, KC, VNET), AI labs
(MiniMax, Zhipu) and GPU localization.
Morgan Stanley Taiwan Limited+
Charlie Chan
Equity Analyst
Morgan Stanley Asia Limited+
Rebecca Xu
Equity Analyst
Lydia Lin
Equity Analyst
Joanne Lau
Research Associate
Eddy Wang, CFA
Equity Analyst
Kathy Zhu
Research Associate
China Internet and Other Services
Asia Pacific
Industry View
Attractive
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