On Tuesday, April 7, A-shares experienced wide fluctuations throughout the trading session, with the three major indices ultimately closing in positive territory. Trading volume shrank, totaling 1.61 trillion yuan. The ChiNext Artificial Intelligence segment showed a V-shaped recovery during the day, with a majority of its component stocks finishing higher. Optical communication remained active, with capital concentrating on the Optical Circuit Switching (OCS) segment. Everprox Technologies Co.,Ltd. closed up 9.64%, reaching a new record high. Ruijie Networks rose over 6%, while Zhongji Innolight and Eoptolink Technology flipped into positive territory in the afternoon, collectively closing higher.
Among popular ETFs, the largest and most liquid fund in its category, the ChiNext Artificial Intelligence ETF (159363), staged a V-shaped rebound during the day, closing up 0.29% with a daily turnover of 449 million yuan.
Market attention on Optical Circuit Switching (OCS) technology has been steadily increasing recently, driven by a combination of news catalysts and industry momentum. From a news perspective, clear signals from top-level policy design have provided a catalyst for the industrialization of OCS. On April 2, the Ministry of Industry and Information Technology issued a notice explicitly proposing to promote the application and deployment of technologies like all-optical switching to reduce end-to-server network latency for computing applications.
From an industry perspective, three core signals have been released in quick succession. First, upstream suppliers like Lumentum have reported significant order growth, with the annual compound growth rate for OCS switch shipments projected to exceed 150% between 2025 and 2028. Second, NVIDIA has formally incorporated OCS into its next-generation network solutions, planning chip-level integration by 2028. Third, global OCS switch shipments are forecast to reach 50,000 units by 2027, surging to 300,000 units by 2029, indicating explosive growth.
How should the investment logic be understood? The large-scale deployment of OCS is expected to directly boost two key segments. First, the optical module segment benefits as OCS is rate-transparent; GPU upgrades only require replacing the optical modules at both ends, providing continued advantages for leading manufacturers. Second, the optical component segment stands to gain, as internal OCS functions like optical path control and signal coupling rely on precision optical components, creating incremental demand from scratch for related suppliers.
To capture opportunities in advanced optical computing power, investors may consider the ChiNext Artificial Intelligence ETF (159363) and its feeder funds (Class A: 023407, Class C: 023408), which have significant exposure to leading optical module companies. These funds are positioned to benefit directly from the growth driven by the commercial explosion of AI technology. In terms of sector allocation, approximately 70% of the ChiNext Artificial Intelligence ETF's portfolio is allocated to computing power (including leaders in optical modules/CPO), while about 30% is allocated to AI applications, making it not only a core play on "computing power" but also a genuine representative of "AI application" potential.
According to data sources including the Shanghai and Shenzhen Stock Exchanges, as of March 31, 2026, the ChiNext Artificial Intelligence ETF had assets under management of 5.564 billion yuan, with an average daily turnover exceeding 700 million yuan over the past six months. Its size and trading volume rank first among 26 ETFs tracking the ChiNext Artificial Intelligence Index, the STAR AI Index, and the Sci-Tech Innovation Board AI Index.
A golden cross MACD signal has formed, indicating positive momentum for several stocks.
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