On the afternoon of November 5, computing power leasing and AI applications strengthened together in the afternoon session. The underlying index of the ChiNext AI ETF (159363), which offers one-click exposure to computing power and AI applications, staged a second afternoon dip-and-rebound, turning positive and rising 0.55%.
On the AI application side, Mango Excellent Media Co.,Ltd. (SZSE: 300413) surged more than 15% at one point in the afternoon, while shares of other companies rose more than 11% and several others gained over 6%. On the computing power leasing side, Range Intelligent Computing Technology Group Company Limited (SZSE: 300442) rallied more than 11%, and another company rose over 8%.
Recently, the market has pointed out that the long-term leasing trend of overseas cloud vendors is transmitting to domestic IDC enterprises. According to a research report, domestic cloud vendors' capital expenditure is growing rapidly — Alibaba and Tencent invested 67.7 billion yuan and 52.8 billion yuan respectively in the second quarter of 2026, up 75% and 176% year-on-year, mainly directed at AI infrastructure. Serving leading cloud vendors with wholesale-type long-term contracts is a highly matched model.
A research report from Founder Securities pointed out that since 2026, three main lines have resonated: large computing power service orders landing intensively, cloud vendors officially announcing price increases, and domestic computing power accelerating its fill-in. The domestic computing power leasing industry is moving from "thematic expectations" toward "performance realization," and the prosperity of the industry chain has reached a new level.
In the AI application sector, the AI comic drama segment, after fully digesting valuations in the earlier period, has seen a concentrated return of funds. It not only took the lead in carrying the banner of the AI application theme's counterattack, but also resonated with the broader market's recovery that day. Supported by two hardcore fundamentals — rapid growth in overseas traffic and the implementation of AI cost reduction — the theme has a foundation for sustained fermentation. In the current environment of rapid rotation of market hotspots and intensifying structural rotation, it is still expected to become an important theme direction with repeated activity in the future.
To position for computing power plus AI applications, investors may consider the ChiNext AI ETF (159363) and its off-exchange feeder funds (Class A 023407, Class C 023408), which focus on leading optical module CPO companies while also covering computing power leasing and AI applications. The underlying index has approximately 30% weight in "Zhongji Innolight + Eoptolink + T&S Communications," making it a core standard-bearer for AI computing power.
Data source: Shenzhen and Shanghai Stock Exchanges, Wind, etc. Note: As of October 31, 2026, according to the CNI Index, the top three constituents of the ChiNext AI Index are Zhongji Innolight (weight 11.49%), Eoptolink (weight 9.08%), and T&S Communications (weight 8.51%). Reminder: Recent market volatility may be significant, and short-term gains or losses do not predict future performance. Investors should invest rationally based on their own capital conditions and risk tolerance, and pay close attention to position and risk management.
ETF fee explanation: When investors subscribe to or redeem fund shares, the subscription and redemption agent may charge a commission of no more than 0.5%. On-exchange trading fees are subject to what the securities company actually charges, and no sales service fee is charged. Feeder fund fee explanation: The Class C feeder fund does not charge a subscription fee; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; the sales service fee is 0.3%. The Class A feeder fund charges a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) and above; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; no sales service fee is charged.
According to the fund manager's assessment, the ChiNext AI ETF and related ETFs are rated R4-medium-high risk, suitable for investors with aggressive (C4) or higher risk profiles, and the suitability matching opinion should be subject to the sales institution. Risk disclosure: The ChiNext AI ETF passively tracks the ChiNext AI Index. The index base date is December 28, 2018, and the launch date is July 11, 2024. The index's annual returns from 2021 to 2025 were 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively, while the annualized volatility over the same period was 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. The constituent stocks of the index are adjusted in due course according to the index compilation rules, and its backtested historical performance does not predict the index's future performance. The index constituents mentioned in this article are for display only, and individual stock descriptions do not constitute investment advice in any form, nor do they represent the holdings or trading activities of any fund under the manager. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors must be responsible for any investment decisions they make independently. In addition, any views, analyses, and forecasts in this article do not constitute investment advice in any form to readers, nor shall they bear any responsibility for direct or indirect losses caused by the use of the content of this article. Fund investment involves risks, past performance of a fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!
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