On Thursday, March 26, artificial intelligence stocks on the Chinext Board experienced widespread declines, with only Tianfu Communication bucking the trend to rise over 2%, and Philips rising over 1%. Sectors including IDC computing power leasing and AI applications fell across the board, with Orient National Communication leading the drop by 7%. Companies such as Tongniu Information,光环新网,星宸科技, and首都在线 each fell more than 5%.
Among popular ETFs, the华宝创业板人工智能ETF (159363), which ranks first in its category for both size and liquidity, weakened in the afternoon session, closing down 2.56% with a reduced turnover of 556 million yuan. While the sector is currently in a phase of range-bound fluctuation, capital has shown a pattern of buying on dips and selling on rallies, with a net subscription of 44 million units for ETF 159363 today amid the decline.
Analysis indicates that the current geopolitical conflicts have intensified market volatility, suppressing risk appetite and liquidity, and also causing disturbances to expectations for the AI technology industry. However, from a medium to long-term perspective, institutions remain firmly optimistic about the investment opportunities in core players of the computing power industry chain.
天风证券 expressed a positive outlook for key manufacturers in the computing power supply chain. They noted that strong demand for computing power overseas continues, with corporate earnings validating robust AI demand, leading to sustained fundamental momentum. Domestically, the development of local computing power, combined with significant investments from major companies like Alibaba and ByteDance, suggests promising prospects for high growth in the AI and AI data center industry chains. Demand for domestic AI infrastructure is expected to be favorable by 2026, with potential for application-side implementation. With ongoing AI advancements in both China and the US, and an acceleration in inference applications, it is advised to monitor developments and opportunities within the AI industry.
Regarding optical modules,国盛证券 highlighted insights from the GTC and OFC conferences. On the demand side, the sector's positive outlook is secure until 2030, driven by both scale-up and scale-out growth. Technologically, both optical and copper solutions will advance, with multiple approaches like CPO, NPO, and XPO coexisting long-term. Industrially, a trend towards consolidation among leading players is accelerating. Leading optical module companies, with their comprehensive technological portfolios and supply chain advantages, are core choices for cloud service providers and chip customers and are positioned to continuously benefit from global AI growth.
To capture opportunities in AI infrastructure, investors may consider the创业板人工智能ETF (159363) and its corresponding feeder funds (Class A: 023407, Class C: 023408), which focus on leading optical module companies and stand to benefit directly from the growth surge driven by AI technology commercialization. In terms of portfolio allocation, the创业板人工智能ETF invests approximately 60% in computing power (including leaders in optical modules/CPO) and about 40% in AI applications, making it not only a core holding for "computing power" but also a genuine representative of "AI applications."
According to data sources such as the Shanghai and Shenzhen Stock Exchanges, as of February 28, 2026, the华宝创业板人工智能ETF had a net asset value of 6.745 billion yuan, with an average daily turnover of 885 million yuan over the past six months, ranking first in both size and trading volume among 26 ETFs tracking the创业板人工智能指数, the STAR AI Index, and the Sci-Tech Innovation Board AI Index.
The创业板人工智能指数 had a base date of December 28, 2018, and was published on July 11, 2024. Its annual performance from 2021 to 2025 was +17.57%, -34.52%, +47.83%, +38.44%, and +106.35%, respectively. The composition of the index is adjusted according to its methodology, and its past performance is not indicative of future results. Any mention of individual stocks is for illustrative purposes only and does not constitute investment advice or represent the holdings or trading intentions of the fund manager.
The fund manager has assessed this fund's risk level as R4 (Medium-High Risk), suitable for aggressive investors (C4) and above. Investors should refer to their sales institution for suitability matching. All information presented is for reference only, and investors are responsible for their own investment decisions. No views, analysis, or forecasts constitute investment advice, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investments carry risks; past performance is not indicative of future results, and the performance of other funds managed by the manager does not guarantee this fund's future performance. Investors should exercise caution.
A golden cross signal has formed in the MACD indicator, suggesting positive momentum for certain stocks.
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