The AI sector launched a rebound today (February 9), with the Science and Technology Innovation AI ETF (589520), which has over 29% exposure to the ByteDance industrial chain, rising 2.99% in intraday trading. Among constituent stocks, Verisilicon Microelectronics led gains with an increase exceeding 9%, followed by Cambricon Technologies rising over 5%, Montage Technology climbing more than 4%, and Transwarp Technology, CloudMinds, and Yunshan Perception also advancing.
On the policy front, the Ministry of Industry and Information Technology has initiated efforts to establish a national computing power interconnection node system. Cinda Securities noted that from an industry trend perspective, investment in AI computing power continues unabated in scale and intensity. The profitability of AI enterprises is gradually strengthening, and the performance of companies within the industrial chain is expected to continue materializing, suggesting attention to the recovery opportunities presented by the current market pullback.
In corporate news, the official Doubao App announced that this Lunar New Year's Eve, Doubao and its partners have prepared some "substantial" gifts for users. It is reported that the 2026 CCTV Spring Festival Gala (Year of the Horse) has entered into an exclusive AI cloud partnership with Volcano Engine (owned by ByteDance). The Doubao App will serve as the core AI assistant, deeply integrated into the program and interactive segments, focusing on AI creation, intelligent interaction, and cross-screen experiences, and is scheduled to launch on New Year's Eve.
The core of the battle for AI entry points is the competition for the next generation of internet gateways. With mobile internet traffic红利 peaking and user growth slowing, existing businesses are facing ceilings. AI is viewed as the next growth engine. As domestic large language models have become fundamentally "usable," establishing user habits with AI assistants early can provide a strategic advantage in the impending AI era.
Kaiyuan Securities believes that competition among internet giants for AI traffic entry points is intensifying. The integration and synergy of multiple business lines, coupled with AI empowerment, may become drivers for both performance and valuation. Attention should be paid to the commercialization of AI and the expansion of application scenarios. With the continuous improvement of open-source model capabilities, demand for AI cloud services is expected to be consistently validated.
Notably, the underlying index of the Science and Technology Innovation AI ETF (589520) comprehensively covers four key segments: application software, terminal applications, terminal chips, and cloud chips. The AI industry chain is evolving from the cloud towards the edge and shifting from reliance on foreign technology towards self-sufficiency and controllability. The science and technology innovation AI sector benefits from the accelerated integration of AI into terminal chips and software, making it more aligned with the current state of the AI industry chain and potentially possessing greater growth potential.
Domestic substitution represents a key theme, with top-level plans advocating an "AI+" initiative. As a core technology, achieving autonomy and controllability in AI is crucial. The Science and Technology Innovation AI ETF (589520) and its feeder funds (Feeder A: 024560, Feeder C: 024561) focus on the domestic AI industrial chain. Their constituents include leading domestic GPU manufacturers (e.g., Cambricon Technologies), leading domestic ASIC providers (e.g., Verisilicon Microelectronics), and leading AI application companies (e.g., Kingsoft Office). The top ten holdings account for nearly 70% of the weight, with the semiconductor industry comprising nearly half, indicating strong offensive potential. The software sector, with a weighting exceeding 30%, stands to benefit from potential catch-up rallies in AI applications. Additionally, this ETF is a margin trading security, serving as an efficient tool for gaining exposure to domestic computing power.
Risk Warning: The Science and Technology Innovation AI ETF and its feeder funds passively track the SSE Science and Technology Innovation Board AI Index. The base date for this index is December 30, 2022, and it was published on July 25, 2024. The index's annual gains/losses for 2023 and 2024 were 12.68% and 32.36%, respectively. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its past performance does not indicate future results. Individual stocks and index constituents mentioned herein are for illustrative purposes only; descriptions of individual stocks are not investment advice of any form and do not represent the holdings or trading activities of any fund managed by the management company. The fund manager assesses the risk rating of the Science and Technology Innovation AI ETF as R4 - Medium to High Risk, suitable for aggressive (C4) and higher risk-profile investors. Suitability assessments should be based on the selling institution's evaluation. Any information appearing in this text is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analyses, or forecasts herein do not constitute investment advice to readers and shall not be liable for any direct or indirect losses resulting from the use of this content. Fund investment carries risks; past performance of a fund does not guarantee future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's future performance. Fund investment should be approached with caution.
A MACD golden cross signal has formed, indicating positive momentum for several stocks.
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