During the early trading session on June 3rd, the optical module CPO sector ignited completely. Suzhou Tfc Optical Communication Co.,Ltd. surged over 12%, while Zhongji Innolight Co.,Ltd. and other stocks gained more than 8%, with many hitting new historical highs. Among them, Zhongji Innolight's intraday price reached a peak of 1290 yuan, surpassing that of Kweichow Moutai Co.,Ltd.
Among popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which has a CPO exposure exceeding 50% and the highest concentration of leading stocks, surged over 5% intraday to new highs. Its real-time turnover exploded to 1.1 billion yuan, with net real-time subscriptions of 60 million yuan.
On the news front, Jensen Huang publicly endorsed partner Marvell Technology, stating it could become the "next trillion-dollar company." Marvell's U.S. stock closed up 32%. Public information shows Marvell Technology, as an upstream chip supplier, provides the core DSP chips required for optical modules to leading global manufacturers like Zhongji Innolight.
The CEO of optical interconnect giant Marvell Technology and Jensen Huang share the view that the next decisive battleground for AI infrastructure is not computing power or memory, but connectivity. Huang explicitly stated that while copper cables will be used where possible, as transmission distance and bandwidth push beyond physical limits, massive optical components, including next-generation CPO technology, will become an indispensable necessity. This significantly reshapes the future valuation potential for CPO technology.
Securities analysis indicates that the long-term evolution logic of the computing power sector remains intact. As we enter June, the demand expectations for optical modules in 2027 are accelerating and becoming clearer. Meanwhile, the supply constraints for key upstream components that previously hampered deliveries are gradually reaching an inflection point towards improvement. The production capacity and earnings potential of leading optical module manufacturers are expected to accelerate their release. A recommendation is to refocus on the major optical module players.
To gain exposure to both optical modules and AI application opportunities, it is suggested to closely monitor the ChiNext Artificial Intelligence ETF (159363) and its corresponding feeder funds. The underlying index has a latest optical module exposure exceeding 50%, with high concentration in leading stocks, and allocates approximately 30% to AI applications, representing not just core computing power but also AI applications.
It is noteworthy that as of May 29, 2026, the ChiNext Artificial Intelligence ETF (159363) reached a latest size of 7.426 billion yuan, ranking first in scale within the dual-innovation AI theme market. Its average daily turnover over the past six months exceeded 800 million yuan, also ranking first in trading activity within the AI theme market.
Investors should be aware of the associated fees. For ETF share subscriptions or redemptions, agencies may charge a commission of up to 0.5%. In-market trading fees are subject to the rates set by securities firms, with no sales service fee charged. For the feeder funds, the Class C share does not charge a subscription fee; a redemption fee of 1.5% applies within 7 days, and 0% for 7 days or more; a sales service fee of 0.3% is charged. For the Class A share, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 1000 yuan per transaction for 2 million yuan or above; redemption fees are the same as Class C; no sales service fee is charged.
Risk Considerations
This ETF 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%, and 106.35% respectively. Index constituent stocks are adjusted per its rules; its historical back-tested performance does not predict future results. Constituent stocks mentioned are for illustrative purposes only; individual stock descriptions are not investment advice of any form nor indicative of the fund manager's holdings or trading intentions. 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 sales institutions. Any information appearing herein is for reference only. Investors are responsible for their own investment decisions. Furthermore, any views, analyses, or forecasts herein do not constitute investment advice to readers, 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 does not guarantee future results. The performance of other funds managed by the manager does not guarantee this fund's performance. Invest with caution.
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