On Friday, April 3, artificial intelligence stocks on the ChiNext board rose against the broader market trend. Optical communication sectors, including optical modules and fiber optic concepts, were particularly active. Advanced Fiber Resources (Zhuhai), Ltd. surged over 11%, reaching a new record high. The group of leading optical module stocks, often referred to collectively, also saw collective gains: Zhongji Innolight rose over 4%, Tianfu Communication advanced more than 3%, and Eoptolink Technology increased over 1%.
Among popular ETFs, the leading ChiNext AI ETF by size and liquidity, Huabao's ETF (159363), broke through the market downturn to close up 1.06%. Trading volume expanded significantly, with transactions exceeding 700 million yuan. Over the past five trading days, inflows into the fund have surpassed 100 million yuan. Despite market fluctuations, the ETF secured its fourth consecutive weekly gain.
Fundamentally, prices for fiber optic cables have repeatedly hit new highs. The spot price for mainstream G.652D standard single-mode fiber has exceeded 105 yuan per core-kilometer, representing a cumulative increase of over 425%. Premiums for high-end products are becoming more pronounced. The price for G.654.E specialty fiber, which is suitable for AI computing infrastructure, has even risen to between 240 and 260 yuan per core-kilometer. Cutting-edge hollow-core fiber prices have reached between 25,000 and 50,000 yuan per core-kilometer. Overall, the fiber optic cable market is experiencing a trend of rising both volume and price.
The surge in fiber optic cable prices is directly linked to exploding demand for optical modules. The large-scale deployment of 800G/1.6T high-speed optical modules in AI data centers requires fibers with lower loss and higher bandwidth to ensure link budget and signal quality. This is driving an upgrade from G.652D to G.654.E fiber. Optical modules and fiber are strongly coupled as the "transceiver end + transmission medium" – the higher the speed of the optical module, the more demanding the performance requirements for the fiber, creating greater premium potential for high-end fibers.
Looking ahead, Shenwan Hongyuan Securities indicated that AI is driving rapid volume growth in optical module demand. With the swift development of AI, various industries are experiencing a sharp increase in demand for computing power. Intelligent computing centers, which serve as dedicated infrastructure for high-power consumption, high-bandwidth GPU clusters, are seeing continuously rising demand for high-speed optical modules. In the future, domestic optical module equipment companies are expected to benefit from both industry growth and market share gains.
To capture opportunities in the AI computing power sector, investors may consider focusing on the ChiNext AI ETF (159363) and its off-exchange联接 funds (Class A: 023407, Class C: 023408), which are positioned to benefit directly from the growth红利 of AI technology commercialization. From a sector perspective, the ChiNext AI portfolio allocates approximately 70% to computing power (including leading optical module/CPO companies) and about 30% to AI applications, making it not only a core "computing power" play but also a genuine representative of "AI application" potential.
*Institutional views are for reference purposes. ETF fee structures vary; standard commissions and fees apply as detailed by fund providers. Investing involves risks, including potential loss of principal. Past performance of an index is not indicative of future results. Constituent stock mentions are for illustrative purposes only and do not constitute investment advice or reflect current fund holdings.
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