Alpha opportunities are emerging! NVIDIA's strong financial results have validated robust artificial intelligence demand, with the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence Trading Open Ended Index Securities (589520) climbing as much as 2.36% during the session. The ETF attracted a significant inflow of 51.13 million yuan over the preceding three days.
Bolstered by NVIDIA's impressive earnings report, which alleviated concerns about an overseas AI bubble, the computing power sector experienced a broad rebound. Anlu Technology surged over 11%, Yunji LiFei advanced more than 8%, and Cambricon rose over 7%. The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF (589520), which focuses on the domestic AI industry chain, saw its intraday price increase by up to 2.36% and closed with a strong gain of 1.77%, reclaiming both its 5-day and 20-day moving averages.
Data from the Shanghai Stock Exchange indicated that funds had been accumulating positions in advance, with the ETF witnessing three consecutive days of net inflows totaling 51.13 million yuan.
NVIDIA's better-than-expected earnings have not only reinforced the high growth trajectory of the global AI computing market but have also redirected market attention towards China's domestic AI supply chain. The investment value in this sector stems not only from synchronization with the global industry cycle but also from unique alpha opportunities presented by the push for self-reliance in domestic computing power and the commercial application of AI technologies.
Firstly, regarding import substitution, there is a new computing power opportunity evolving from a 'follower' to a 'leader' role. CITIC Securities pointed out that the top three large language models by global token usage are all domestic Chinese models. This explosive growth reflects an exponential expansion in AI inference demand. With advantages in cost and an increasingly mature ecosystem, domestic computing power is poised to gradually take a leading role in the infrastructure layer. The firm suggests focusing on revaluation opportunities driven by increased interconnect density among super-nodes.
Secondly, a tipping point for AI agents has arrived, signaling the eve of a commercialization boom. Huaxi Securities noted that after a surge during the 'Spring Festival period,' the trend in China's AI large models has fully shifted from general-purpose chatbots towards vertical productivity tools and the practical deployment of real AI agents. The current phase is a critical acceleration period for AI development, with underlying computing infrastructure still in an expansion phase. Kaiyuan Securities believes that 2026 will be a pivotal year for AI's transition to value realization and commercialization, anticipating a 'DeepSeek moment' for multimodal models.
The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF (589520) and its feeder funds focus on the domestic AI industry chain. Its portfolio includes leading domestic GPU developers like Cambricon, leading domestic ASIC companies, and top AI application firms. The semiconductor sector comprises nearly half of the ETF's weight, offering strong growth potential, while the software sector accounts for over thirty percent, positioning it to benefit from potential catch-up rallies in AI applications. This ETF is also a margin trading security, making it an efficient tool for gaining exposure to the domestic computing power theme.
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