On Wednesday (December 17), the commercial space sector diverged, while AI stocks surged aggressively. After making a tough decision to shift focus back to AI, watching the U.S. stock market that evening left me sleepless with regret.
By Thursday (December 18), losses in AI were inevitable, and commercial space stocks took off again—ruining my appetite for lunch.
Why do others buy "king stocks," while mine turn into "king crabs"? Staring at the market screen, I felt like throwing my hands up or dropping to my knees in despair.
Reflecting on this, I realized my understanding was insufficient—I need to improve my knowledge.
Wednesday night brought a major policy boost for the "reward economy," with commercial spaceflight emerging as its primary application. The core monetization model? Top patrons gifting virtual "rockets" to influencers.
China has unique advantages in commercial space development. While the U.S. has Houston’s Space City, we have Xi’an. Arriving at Xi’an North Station, taking Metro Line 2 south past historical landmarks like the Daming Palace and Bell Tower, one reaches the terminal: "Space City." Here, history and future collide—a poetic vision of progress.
No wonder recent space industry stars all bear the character "Xi" (西)—for Xi’an, for Shaanxi.
SpaceX took years to master rocket reusability, whereas China’s "recycle culture" is already ingrained—just check Zhuanzhuan (a secondhand platform). If we excel in space, why doubt our AI potential?
Overseas AI chains buzz with factory audits and upgrades, backed by giants like Alphabet. Forget "bubble tea economics"—the real trend is "Google audit economics."
Optical module stocks surge on earnings upgrades, not P/E expansion. At mid-2025 valuations, names like Yizhongtian trade at ~10x P/E—globally the cheapest AI assets. Linking their valuations to "bubble" is like pairing Suzhou with airports or Jiangsu with mountains—this province is flat terrain.
For overseas AI compute opportunities centered on optical modules, consider China’s first ChiNext AI ETF (159363) and its feeder fund (023408), with >56% exposure to leaders like Yizhongtian. As of December 17, the ETF’s AUM exceeded ¥3.6B, averaging ¥600M daily turnover—top among seven trackers.
If overseas chains seem capped by their NVIDIA/Alphabet subcontractor status, homegrown GPU players are breaking valuation ceilings. Three local champions collectively generated ¥7B revenue this year at a ¥1.2T market cap—reviving PE/VC portfolios. Yet when valuations stretch, critics call it "worse than U.S. bubbles."
This echoes the "Kobe and I scored 100" meme—referencing Bryant’s 81-point game where his teammates contributed 19. Today’s AI trio trembles like underlings summoned by the Führer, watching his shaking hands remove glasses in silence.
With beta yet to arrive, domestic AI models grow quietly. While Doubao’s conference drew scant attention, this may be the ideal entry window. The STAR AI ETF (589520) and feeder fund (024561) focus on local chains, with >70% weight in top holdings—over half in semiconductors and 11% in "Cold King" (Hanwang), offering aggressive exposure.
"Overseas AI builds the stage; domestic AI performs"—music to investors’ ears.
Risk Disclosure: This content does not constitute investment advice or personalized recommendations. Subscribers must assess information independently and bear all risks. Invest cautiously.
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