Fourth consecutive day of gains! Is a right-side positioning signal emerging? The underlying index of the STAR AI ETF Hua Bao (589520), which focuses on the domestic AI industry chain, rose as much as 2.6% and is currently up 2.13%. Among constituent stocks, Luster LightTech and OPT Machine Vision led gains of over 7%, while Montage Technology and Bestechnic rose more than 5%, with UCloud, Orbbec, and Espressif Systems following the upward trend. Chart: Top 10 real-time gainers among STAR AI ETF Hua Bao (589520) constituent stocks.
Looking overseas, SpaceX and Super Micro Computer both released their latest earnings reports, which exceeded market expectations and boosted confidence in AI trading. Tech giants are competing to build data centers, making companies like Super Micro Computer one of the biggest beneficiaries of the AI boom. The four major cloud computing companies, including Microsoft, Google, Amazon, and Meta, are expected to spend over $700 billion on AI infrastructure this year.
Focusing on the domestic front, on October 20, Montage Technology announced that it expects to achieve net profit attributable to shareholders of 1.2 billion to 1.3 billion yuan in the third quarter of 2026, representing year-on-year growth of 153.6% to 174.7%. Regarding the reasons for the earnings growth, Montage Technology stated that since the beginning of this year, with the rapid development of AI inference and Agent applications, server CPU demand has continued to grow, further driving up demand for memory modules and memory interconnect chips.
In terms of physical AI, NVIDIA's GTC conference is being held in Berlin, Germany from October 20 to 22 local time. Jensen Huang will deliver a keynote speech, with the conference focusing on accelerated computing, agentic AI, physical AI, robotics, and other directions. This conference for the first time makes "AI factories" a core narrative 鈥?that is, packaging training and inference clusters as deliverable computing infrastructure rather than selling GPUs individually. Guolian Minsheng Securities believes that physical AI is expected to become an important development direction for artificial intelligence.
In terms of edge AI, according to Counterpoint estimates, the global market penetration rate of generative AI smartphones is expected to reach 52% by 2027, with edge AI transitioning from a high-end selling point to a standard factory feature. Gartner data shows that the proportion of AI PC shipments will jump from 15.6% in 2024 to approximately 54.7% in 2026, and AI PCs are expected to become the norm by 2029. Guosheng Securities pointed out that edge AI is accelerating its rise. The maturation of edge AI is expected to push the large model industry into a new stage of edge-cloud collaboration, forming a layered synergy where "the cloud sets the ceiling, the industry sets the depth, and the edge sets the entry point." Hualong Securities pointed out that leading companies such as Hygon Information have reported high growth in their earnings forecasts for the first three quarters of 2026, validating the prosperity of the computing power industry. The acceleration of domestic substitution combined with favorable "AI+" policies supports investment opportunities in the two main lines of AI computing power and AI applications. It is recommended to pay attention to chip and server leaders with independent computing power supply capabilities, as well as AI application leaders with industry Know-How.
The Light of Domestic Substitution, STAR Self-Reliance and Self-Improvement
The STAR AI ETF Hua Bao (589520), which focuses on the domestic AI industry chain, and its feeder funds (Feeder A: 024560, Feeder C: 024561) include 30 STAR Market-listed companies with relatively large market capitalizations that provide basic resources, technology, and application support for AI. Semiconductors account for 65%, AI applications account for 30%, and it also includes GPU concept stocks (Hygon Information, VeriSilicon, Cambricon, Loongson Technology, MetaX). With a 20% daily price limit, the ETF can provide low-threshold access to the breakthrough power of the STAR track. At the same time, the ETF is a margin trading and securities lending target, making it an efficient tool for one-click positioning in domestic computing power.
Source: Shanghai and Shenzhen Stock Exchanges, etc., as of October 21, 2026. The fund manager assesses the risk level of this fund as R4-Medium-High Risk, suitable for aggressive (C4) and above investors. The appropriateness matching opinion should be based on the sales institution. ETF fee-related notes: ETFs do not charge sales service fees. Subscription and redemption agents may charge commissions at a rate not exceeding 0.5%, which includes related fees charged by stock exchanges and registration institutions. On-exchange transaction fees are subject to actual charges by securities companies. Feeder fund fee rates are detailed in the fund legal documents. Risk warning: The STAR AI ETF Hua Bao passively tracks the SSE STAR Artificial Intelligence Index. The index base date is December 30, 2022, and it was published on July 25, 2024. The constituent stocks of the index are adjusted in a timely manner according to the index compilation rules. Its back-tested historical performance does not predict the future performance of the index. The individual stocks and index constituent stocks mentioned in this article are for display purposes only. Individual stock descriptions do not constitute any form of investment advice, nor do they represent the holdings or trading trends of any fund under the manager. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors must be responsible for any investment decisions they make independently. In addition, any views, analyses, and forecasts in this article do not constitute any form of investment advice to readers, nor shall they bear any responsibility for direct or indirect losses caused by the use of the content of this article. Fund investment involves risks. Past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!
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