With increased computing power revenue, the three major telecom operators are gradually making token services their main business focus.

Recently, the 2025 annual reports of the three major telecom operators have been released one after another. Overall, the operators' main performance indicators are running at high levels, but in terms of total volume, the sluggish growth situation has not improved significantly. Structural revenue growth, such as computing power services, innovative businesses, and international business, remains the main highlight. In 2025, the three major operators will continue to focus their basic resource investment on computing power. It is worth noting that, according to the published capital expenditure plans, computing power-related investments remain a key focus for operators this year. Of course, the ultimate goal of intelligent computing infrastructure is still monetization. Judging from the statements of the three operators, token (word) management will gradually become the main theme. (People's Finance)