During early trading on the 18th, the computing power sector staged a rebound, with CPO optical modules and IDC computing power leasing showing strong activity. The ChiNext Artificial Intelligence segment opened higher and continued to rise, gaining over 2.5%. Among the gainers, Oriental Nations surged more than 16%, while Beijing Junzheng, Tianfu Communication, Global Switch, and Wangsu Technology each advanced over 5%. Companies such as Xinsheng Communication, Xunchuang Data, Aofei Data, and Zhongji Innolight saw increases exceeding 2%.
In terms of popular ETFs, the largest fund of its kind, the ChiNext Artificial Intelligence ETF (159363), opened higher and extended gains, with its on-market price climbing over 3%. Trading volume surged in real-time, exceeding 300 million yuan, and funds have accumulated an inflow of 80 million yuan over the past five days.
Regarding CPO optical modules, recent developments include NVIDIA's announcement of the Feynman chip on March 16 local time, which introduces optical communication into inter-chip connectivity for the first time, potentially reducing AI data center communication energy consumption by over 70%. Guosheng Securities noted that NVIDIA's GTC conference could mark the beginning of a new round of technological iteration in the AI computing power industry chain, further catalyzing enthusiasm for the computing power sector. They recommend continued focus on related companies in the computing power supply chain, such as leading optical module manufacturers.
In the IDC computing power leasing space, Tencent's QClaw is set to begin public testing soon, with a new version launching on March 18. The WeChat entry point will undergo a comprehensive upgrade to enhance connectivity and lower barriers to entry. QClaw, developed by Tencent based on the OpenClaw open-source ecosystem, is an industry-first local AI assistant that connects directly via WeChat, emphasizing zero barriers and no deployment requirements.
Huaxi Securities commented that, despite ongoing external geopolitical risks and reduced market risk appetite potentially impacting short-term fluctuations, AI remains a key investment theme in the near term. The current phase of AI development is still in an accelerated scaling period, and as the supply system for related computing power chips diversifies, demand for tokens is expected to continue accelerating. Underlying computing power infrastructure, including optical modules, remains in an expansion phase.
To capitalize on AI-related opportunities, investors can consider the ChiNext Artificial Intelligence ETF (159363) and its off-exchange counterparts (Class A: 023407, Class C: 023408), which provide exposure to both computing power and AI applications, directly benefiting from the commercial growth of AI technology. The ETF allocates approximately 60% of its holdings to computing power (including leading optical module and IDC companies) and 40% to AI applications, positioning it as a core representative of both computing power and AI implementation.
Data source: Shanghai and Shenzhen stock exchanges.
ETF fee details: Subscription and redemption agents may charge a commission of up to 0.5% when investors purchase or redeem fund units. On-market trading fees are subject to securities firms' actual charges, with no sales service fee applied. For the linked funds: Class C of the ChiNext AI ETF does not charge a subscription fee; redemption within 7 days incurs a 1.5% fee, while redemptions after 7 days (inclusive) are fee-free; a 0.3% sales service fee applies. Class A charges a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1–2 million yuan, and a flat 1,000 yuan per transaction above 2 million yuan; redemption within 7 days costs 1.5%, with no fee after 7 days; no sales service fee is charged.
Risk disclosure: The ChiNext Artificial Intelligence ETF managed by Huabao passively tracks the ChiNext Artificial Intelligence Index, which has a base date of December 28, 2018, and was launched on July 11, 2024. The index's annual performance from 2021 to 2025 was 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. Index components are adjusted according to its rules, and past performance does not indicate future results. Constituent stocks are shown for illustrative purposes only; individual stock descriptions are not investment advice and do not reflect the holdings or trading activities of the fund manager. The fund manager assesses this fund as R4—moderately high risk, suitable for aggressive (C4) and higher investors; suitability assessments are determined by sales institutions. All information provided is for reference only, and investors are responsible for their investment decisions. Views, analyses, and forecasts do not constitute investment advice, and no liability is accepted for direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the manager does not ensure this fund's performance. Invest with caution.
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