On the afternoon of May 7, the optical module CPO sector demonstrated repeated strength. New Sunshine surged rapidly by over 7%, while Long Fiber Innovation rose more than 8%. Tianfu Communication and Zhongji Xuchuang both gained over 3%. The Growth Enterprise Board Artificial Intelligence ETF Huabao (159363), which has approximately 50% exposure to optical modules CPO, climbed more than 3% during the session, approaching its previous high, with trading volume exceeding 800 million yuan.
The optical module CPO sector is currently benefiting from multiple positive catalysts: First, strong performance from industry giants continues to validate the trend. After the market close on Tuesday Eastern Time, U.S. optical module leader Lumentum reported robust results for its third fiscal quarter (ending March 28, 2026). Lumentum delivered outstanding performance, with revenue reaching a record high of $808 million, a year-over-year increase of 90%.
Second, high industry growth is confirmed. NVIDIA made a strategic $500 million investment in Corning, planning to expand optical communication production capacity tenfold. NVIDIA announced a multi-year commercial and technological cooperation agreement with Corning, a global leader in optical communication materials, purchasing $500 million in warrants from Corning.
Third, capital expenditure from cloud giants provides further validation. The combined capital expenditure of the four major North American CSP providers for Q1 2026 totaled $131.6 billion, a 70.25% increase year-over-year. Total capital expenditure for 2026 is projected to reach $710 billion, with continued high growth anticipated for 2027. Cloud giants have collectively raised their capital expenditure forecasts, indicating that the peak for computing infrastructure investment is not yet in sight.
Guosheng Securities analysis suggests that with overseas cloud providers releasing new financial reports collectively, the acceleration of AI business monetization and another comprehensive upward revision of full-year capital expenditure guidance serve as the strongest signals for the AI computing sector's vitality. Simultaneously, computing power supply remains insufficient to meet demand. Despite a slowdown in the actual execution pace of capital expenditure by Microsoft and Meta in Q1, the pace of AI data center construction is expected to re-accelerate in the second half of the year. The optical module and related computing infrastructure supply chain will continue to benefit from volume and price increases driven by exceptionally high demand.
To capture opportunities in leading optical module CPO companies, focus is recommended on the Growth Enterprise Board Artificial Intelligence ETF Huabao (159363) and its off-exchange counterparts (Class A: 023407, Class C: 023408). The underlying index currently has approximately 50% exposure to optical modules, providing concentrated coverage of key players. Approximately 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.
It is noteworthy that as of April 30, 2026, the Huabao Growth Enterprise Board Artificial Intelligence ETF (159363) reached a new record high scale of 7.045 billion yuan, ranking first in scale within the dual-board AI theme market. Its average daily turnover over the past six months was approximately 800 million yuan, also leading the AI theme sector in trading activity.
Data source: Shanghai and Shenzhen Stock Exchanges, etc.
ETF fee information: When subscribing for or redeeming fund shares, subscription/redemption agents may charge a commission of up to 0.5%. On-exchange trading fees are subject to the rates set by the securities firm; no sales service fee is charged.
Connecting fund fee information: The Growth Enterprise Board 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. A sales service fee of 0.3% is charged annually. For the Class A feeder fund, a subscription fee of 1% applies for investments below 1 million yuan, 0.6% for 1-2 million yuan, and a fixed 1000 yuan fee for 2 million yuan and above. The redemption fee structure is the same as Class C. No sales service fee is charged for Class A.
Risk提示: The Huabao Growth Enterprise Board AI ETF passively tracks the Growth Enterprise Board AI Index. The index base date is December 28, 2018, and its release date was July 11, 2024. The annual performance of the Growth Enterprise Board AI Index 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. Past index performance is not indicative of future results. Constituent stocks mentioned are for illustrative purposes only and do not constitute investment advice or represent the holdings or trading动向 of the fund manager. The fund manager assesses this fund's risk level as R4 (Medium-High Risk), suitable for Aggressive (C4) and above investors. Suitability matching opinions are subject to the selling institution. Any information appearing herein is for reference only, and investors are responsible for their own investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any kind to the reader, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks; past fund performance is not indicative of future results. The performance of other funds managed by the fund manager does not guarantee this fund's future performance. Invest cautiously.
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