On the morning of November 26, the optical module CPO sector extended its gains, with Zhongji Innolight Co., Ltd. (300308) skyrocketing over 11% intraday, approaching its historical peak. Other stocks, including Xinyisheng, Guangku Technology, Tianfu Communication, Taichenguang, and Lianke Technology, also rose by more than 4%.
Among popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which has over 54% exposure to optical modules, surged 5% in price, breaking through all key moving averages. Trading activity was robust, with real-time turnover exceeding 700 million yuan.
The AI-driven optical module CPO sector is benefiting from multiple catalysts: 1. **Nvidia** highlighted that its chips offer "higher performance, versatility, and interchangeability" compared to ASIC chips like Google’s TPU, which are typically designed for single-company or single-function use. 2. Market attention is shifting toward Google’s TPU supply chain, particularly its high-efficiency architecture combining TPU, optical circuit switching (OCS), and CPO. 3. **Alibaba** reported better-than-expected revenue in Q2, with strong growth in its AI-cloud and consumer businesses. Management emphasized aggressive AI investments, potentially exceeding its three-year commitment of 380 billion yuan.
From a supply chain perspective, both Google’s TPU (based on 3D Torus and OCS) and Nvidia’s GPU (relying on NVLink and CLOS networks) rely on optical modules to overcome communication bottlenecks in large-scale AI computing clusters. Optical modules, serving as the "information highways" within data centers, are critical to unlocking full computational potential, making them a foundational component for AI leaders like Nvidia and Google.
Guosheng Securities noted that the strong performance of Google and Nvidia underscores the AI industry’s growth flywheel: model upgrades drive computing demand, which in turn fuels innovation. This virtuous cycle of technology, infrastructure, and applications sustains high momentum in the computing sector, with optical module leaders remaining top picks.
The ChiNext AI ETF (159363) manager highlighted that despite market volatility, the worst declines may be over for tech ETFs. With A-shares consolidating at highs and low-position sectors adjusting sufficiently, the current market offers an attractive entry point. The ETF, with 54% exposure to optical module leaders like "Yi-Zhong-Tian," allocates over 70% to computing and 20% to AI applications, positioning it to capitalize on AI trends efficiently (data as of October 31, 2025).
**Investment Note**: The ChiNext AI ETF passively tracks the ChiNext Artificial Intelligence Index (base date: December 28, 2018; launch date: July 11, 2024). Historical index performance: +20.1% (2020), +17.57% (2021), -34.52% (2022), +47.83% (2023), +38.44% (2024). Constituent stocks are adjusted per index rules; past performance does not guarantee future results.
**Risk Disclosure**: Fund investments carry risks. Historical returns are not indicative of future performance. Investors should assess suitability based on their risk profile (R4: medium-high risk; suitable for aggressive investors [C4+]). Consult your financial advisor before investing.
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