On the afternoon of June 15th, CPO concept stocks continued their explosive rally, with the AI sector heavy in optical modules surging over 5.5% on the ChiNext board. Among them, three stocks hit the 20% daily limit-up: T&S Communications Co.,Ltd. (300570), Advanced Fiber Resources(Zhuhai),Ltd. (300620), and Changxin Botech. Additionally, Zhishang Technology, Ruijie Networks, and Xingchen Technology surged over 11%, while Tianfu Communication, Xinyisheng, and Zhongji Xuchuang gained more than 6%.
Among popular ETFs, the ChiNext Artificial Intelligence ETF HuaBao (159363), which leads its peers in both scale and liquidity, surged 6% during the session, reclaiming all its moving averages, with real-time turnover exceeding 900 million yuan.
Analyst Views on AI Infrastructure Spending
A Goldman Sachs report stated that capital expenditure by hyperscale data center operators in the AI field could far exceed market expectations. Goldman Sachs analysts estimate that by 2027, capital expenditure for these operators could reach approximately $1.1 trillion. In an optimistic scenario, spending might climb to $1.4 trillion, compared to Wall Street's expectation of around $920 billion. The upside potential for AI capital expenditure implies corresponding upside for the earnings and stock prices of beneficiaries within the AI infrastructure space.
Investment Strategy Recommendations
In terms of allocation, Industrial Securities suggests adopting a long-term perspective to navigate short-term volatility and continuing to hold onto the most certain growth directions within AI, represented by the North American computing power chain, including optical communications (optical modules, optical fibers, and cables). Historical precedents repeatedly show that during market fluctuations caused by external disruptions, sectors with clear growth trajectories tend to become market focal points and demonstrate greater resilience. As the July earnings season approaches, these high-consensus growth sectors are expected to remain the market's strongest conviction.
Guosheng Securities indicated that fiber optic cabling/MPO (Multi-fiber Push-On) is poised to become the next super-industry benefiting from optical interconnect. As optical interconnect evolves from Scale-out towards Scale-up and potentially future Scale-in, the value and importance for MPO/fiber cabling manufacturers are expected to increase significantly. Furthermore, given the current tight supply of optical fibers/ferrules, the competitive landscape is becoming more concentrated among leading companies.
ETF Focus for Optical Module and CPO Leaders
To gain exposure to leading optical module and CPO companies, it is recommended to focus on the ChiNext Artificial Intelligence ETF HuaBao (159363) and its corresponding feeder funds (Class A 023407, Class C 023408), which lead their category in scale and liquidity. The underlying index has a high concentration in optical modules (over 50%) and significant holdings in key AI leaders, with approximately 30% of its portfolio allocated to AI applications, positioning it not only as a core computing power play but also as a representative of AI applications.
Key ETF Metrics
It is noteworthy that as of June 9, 2026, the ChiNext Artificial Intelligence ETF HuaBao (159363) reached a latest size of 7.426 billion yuan, ranking first in scale within the dual-board (ChiNext & STAR) AI thematic ETF market. Its average daily turnover over the past six months exceeded 900 million yuan, also leading the AI thematic ETF market in trading activity.
Important Fund Information and Risk Disclosure
Source: Shanghai & Shenzhen Stock Exchanges, etc.
ETF Fee Note: When subscribing for or redeeming fund units, subscription/redemption agents may charge a commission not exceeding 0.5%. On-exchange trading fees are subject to the rates charged by the securities firm, with no sales service fee charged.
Feeder Fund Fee Note: The ChiNext Artificial Intelligence ETF Feeder Fund Class C charges no 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. For the Class A feeder fund, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1 million (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) and above; redemption fees are 1.5% for holdings under 7 days, and 0% for 7 days or more; no sales service fee is charged.
Risk Warning: The ChiNext Artificial Intelligence ETF HuaBao passively tracks the ChiNext Artificial Intelligence Index. The index base date is December 28, 2018, and its release date is July 11, 2024. The index's annual performance from 2021 to 2025 was: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%, respectively. Index constituent stocks are adjusted according to the index methodology, and its back-tested historical performance is not indicative of future results. The mention of index constituents herein is for illustrative purposes only; descriptions of individual stocks do not constitute any form of investment advice nor represent the holdings or trading动向 of any fund managed by the fund manager. The fund manager assesses this fund's risk等级 as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution. Any information appearing in this article (including but not limited to individual stocks,评论, forecasts, charts, indicators, theories,任何形式的表述, etc.) is for reference only. Investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any kind to readers, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not guarantee its future results. The performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Invest with caution.
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