On the morning of August 11, AI trading saw a recovery bounce, with optical module leaders staging a notable rally. 新易盛 surged over 4%, 中际旭创 climbed more than 3%, and 天孚通信 rose over 1%. Among popular ETFs, the 创业板人工智能ETF华宝 (159363), heavily weighted in optical module leaders, jumped 2% in intraday trading, with a real-time turnover exceeding 700 million yuan, leading all AI-themed ETFs in the market.
According to rumors from closed-door overseas meetings, if the FCC were to broadly restrict optical modules, it would severely impact US AI infrastructure. This has faced united opposition from major overseas tech companies, leading to expectations that the final policy will only slightly tighten equipment access standards, focusing on firmware and logic chip reviews. The earlier pressure from "import ban" fears that triggered sector panic has clearly eased.
Last week, the optical module sector experienced a sharp correction due to rumors of FCC restrictions. However, the policy direction reported today is significantly milder than the market's previous worst-case scenario—shifting from "broad restrictions" to a "slight tightening of access certifications." The collective opposition from major overseas players further strengthens the credibility of this interpretation.
Currently, the strong earnings growth trend for optical module leaders remains intact. Continued volume production of 1.6T products has pushed order backlogs into 2028, providing a solid fundamental support for the sector. Besides computing power segments like optical modules, the AI trading theme also warrants attention on AI applications. Following the US SaaS benchmark, Palantir surged after reporting better-than-expected quarterly results, indicating the market is assigning a high premium to the ability to monetize AI applications.
The 创业板人工智能指数, tracked by the 创业板人工智能ETF华宝 (159363) and its over-the-counter feeder funds (Class A: 023407, Class C: 023408), concentrates on a mix of "software + hardware" AI stocks (such as sector-specific applications). Compared to pure hardware communication stocks, these are better positioned to benefit from the dual logic of earnings delivery at the application layer and a valuation system reset. The fund focuses on optical module CPO leaders while also covering AI applications. The index's weighting of 中际旭创, 新易盛, and 天孚通信 totals approximately 40%, making it a core flagbearer for AI computing power.
The 创业板人工智能ETF华宝 (159363) has a net asset value exceeding 7 billion yuan, with an average daily turnover of over 1 billion yuan in the past six months, leading in both scale and liquidity among the 8 ETFs tracking the same underlying index. Data source: Shanghai and Shenzhen stock exchanges.
ETF fee details: Investors may be charged a commission of up to 0.5% by the subscription/redemption agent. On-exchange trading fees are subject to the actual charges of the securities company, with no sales service fee levied. For the feeder fund, Class C shares have no subscription fee; the redemption fee is 1.5% for holdings under 7 days and 0% for 7 days or more; the sales service fee is 0.3%. For Class A shares, the subscription fee is 1% for amounts under 1 million yuan, 0.6% for amounts between 1 million and 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan or more; the redemption fee is 1.5% for holdings under 7 days and 0% for 7 days or more; no sales service fee is charged.
Risk disclosure: The 创业板人工智能ETF华宝 passively tracks the 创业板人工智能指数, which has a base date of December 28, 2018, and was launched on July 11, 2024. The index's annual returns for 2021-2025 were 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively, with annualized volatilities of 23.73%, 27.34%, 38.02%, 45.42%, and 41.1% for the same periods. The index's constituent stocks are adjusted periodically according to its compilation rules. Back-tested historical performance does not guarantee future index results. The stocks mentioned in this article are for illustration only and do not constitute any form of investment advice, nor do they represent the holdings or trading activities of any fund managed by the fund manager. According to the fund manager's assessment, the 创业板人工智能ETF华宝 carries a risk rating of R4 (medium-high risk) and is suitable for investors with an aggressive (C4) or higher risk profile. Suitability matching opinions are subject to the sales institution's judgment. Any information presented in this article (including but not limited to stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors must be responsible for their own independent investment decisions. Furthermore, any views, analyses, or forecasts herein do not constitute investment advice to readers, and the author assumes no responsibility for any direct or indirect losses arising from the use of this content. Fund investment carries risks. Past performance of a fund is not indicative of its future performance. The performance of other funds managed by the same fund manager does not guarantee the performance of this fund. Fund investment should be undertaken with caution.
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