After market close on April 29, Eastern Time, Alphabet, the parent company of Google, released its Q1 2026 financial results: revenue reached $109.9 billion, with net profit surging 81%. Its cloud business exceeded $20 billion for the first time. The AI strategy is now translating into financial performance, with robust growth across computing power, orders, subscriptions, and advertising. To meet the demand for AI computing power, Alphabet has raised its 2026 capital expenditure forecast to $180-190 billion and anticipates further significant increases in 2027, aiming to solidify its full-stack AI and computing infrastructure advantages.
Driven by AI computing capital expenditure, leading optical module companies are expected to maintain a strong growth cycle. Guosheng Securities indicated that the optical communication industry is in a super-cycle fueled by AI computing demand. Leading firms with advantages in global delivery capabilities, platform-based technology deployment, forward-looking supply chain management, and strong financial resources are poised to benefit continuously from the long-term growth opportunities brought by AI, reinforcing a trend where the strong get stronger.
To capture opportunities in leading CPO optical module companies, consider focusing on the ChiNext AI ETF Hua Bao (159363) and its off-exchange counterparts (Class A: 023407, Class C: 023408), which have over 50% exposure to optical components. The underlying index currently has approximately 50% weighting in optical modules, providing comprehensive coverage of key players. About 30% of the portfolio is allocated to AI applications, positioning it not only as a core computing power play but also as a representative of AI application development.
Notably, as of April 28, 2026, the ChiNext AI ETF Hua Bao (159363) reached a new milestone with assets under management surpassing 7 billion yuan, ranking first in the dual-innovation AI segment by size. Its average daily turnover over the past six months was approximately 800 million yuan, leading the AI thematic ETF category in trading activity.
Data source: Shanghai and Shenzhen Stock Exchanges, among others.
ETF fee information: When subscribing for or redeeming fund shares, agents may charge a commission of up to 0.5%. On-exchange trading fees are subject to the rates set by securities firms, with no sales service fee applied.
Connecting fund fee details: The ChiNext AI ETF feeder fund Class C does not charge a subscription fee. A redemption fee of 1.5% applies for holdings under 7 days, and 0% for 7 days or more. The sales service fee is 0.3%. For Class A, the subscription fee is 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 1,000 yuan per transaction for 2 million yuan and above. The redemption fee is 1.5% for holdings under 7 days and 0% for 7 days or more. No sales service fee is charged for Class A.
Risk disclosure: The ChiNext AI ETF Hua Bao 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 constituents are adjusted according to the index methodology, and past performance does not indicate future results. Constituent stocks mentioned are for illustrative purposes only; individual stock descriptions are not investment recommendations and do not represent the holdings or trading activities of the fund manager. The fund manager assesses this fund's risk rating as R4 (medium-high risk), suitable for aggressive (C4) and higher risk-tolerant investors. Suitability assessments should be confirmed with the selling institution. All information provided is for reference only; investors are responsible for their own investment decisions. Views, analyses, and forecasts do not constitute investment advice, and no liability is accepted for any 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 assure this fund's performance. Invest with caution.
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