Driven by positive developments in computing power, DeepSeek's price increase is seen as a clear indicator of ongoing computing power scarcity. On August 14, the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF (589520), which focuses on the domestic AI industry chain, saw its intraday price rise as much as 1.12% in early trading before pulling back and falling 1.12%, potentially presenting a buying opportunity for investors. The ETF had attracted a total of 5.71 million yuan in net inflows over the previous two days.
Among its constituent stocks, Kaipuyun led the gains with a rise of over 2%, while Juchen Shares, Youkede-W, Shitou Technology, and Qian'anxin-U all advanced by more than 1%. Lantech also traded in positive territory. However, the remaining 24 stocks were in the red, with Yingshi Innovation falling over 3%, and Haiguang Information and Cambrian dropping more than 2%, weighing on the index's performance.
Where to Initiate
DeepSeek officially announced a price adjustment, with the peak-hour output price for V4-Pro rising to as high as 27 yuan, a 350% increase from the current price. Analysts point out that the API price hike itself is direct evidence of supply-demand imbalance, reaffirming the certainty of computing power scarcity. Domestic AI chips, as the foundation of computing power, are expected to be core beneficiaries of this value revaluation.
Why Only 10 ASX 200 Shares?
Driven by changes in the trade landscape and the explosive growth in domestic large model usage, domestic AI chips are entering a historic window of opportunity, transitioning from "policy-driven procurement" to "active market selection." According to IDC data, China's total AI accelerator card shipments in 2025 are projected to be around 4 million units, with domestic cards accounting for about 1.65 million units, or 41% of the total. Domestic substitution is now becoming the core pathway to fill the computing power gap.
Huatai Securities believes that in 2026, the AI industry is shifting from large model pre-training to the commercialization of AI agents, with inference computing power demand entering an accelerated growth phase. The Day-0 adaptation closed loop between domestic large models and domestic computing power is being formed, accelerating the substitution of domestic AI chips. The resonance of super-node interconnection and storage upgrades, combined with a clear inflection point in inference demand, supports this trend.
BOC International notes that as the competitiveness of domestic models improves and applications continue to penetrate enterprise production processes, the benefit chain is expanding from GPUs to CPUs, AI servers, storage, switches, optical modules, PCBs, liquid cooling, data centers, and power infrastructure. The growth logic for the entire domestic computing power industry chain is continuously strengthening.
Shining Light of Domestic Substitution, Self-Reliance in Innovation
The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF (589520) and its linked funds (Class A: 024560, Class C: 024561) focus on the domestic AI industry chain. Their constituent stocks include 30 larger market-capitalization companies listed on the Science and Technology Innovation Board that provide foundational resources, technology, and application support for AI. The semiconductor industry holds a 70.4% weight, offering strong offensive potential. GPU concept stocks and AI application concept stocks account for 41.98% and 23.19% of the weight, respectively. With a 20% price limit, the ETF provides a low-threshold way to access the Science and Technology Innovation Board's breakthrough forces. The ETF is also a margin trading target, serving as an efficient tool for a one-stop investment in domestic computing power.
Note: The GPU concept and AI application concept content are compared against the GPU Index (8841701.WI) and the AI Application Index (980112.CNI). Sources: Shanghai and Shenzhen stock exchanges, etc., as of August 14, 2026. Fee-related notes: The ETF does not charge a sales service fee. Subscription and redemption agents may charge a commission of up to 0.5%, which includes fees charged by the stock exchange and registration institutions. On-exchange trading fees are subject to the actual fees charged by securities companies. Risk Warning: The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF passively tracks the SSE Science and Technology Innovation Board Artificial Intelligence Index, which has a base date of December 30, 2022, and was launched on July 25, 2024. The composition of the index's constituent stocks is adjusted in accordance with the index's compilation rules. The back-tested historical performance does not predict the future performance of the index. The stocks and index constituent stocks mentioned in this article are for demonstration purposes only. Descriptions of individual stocks do not constitute investment advice of any kind, nor do they represent the holdings or trading activities of any fund managed by the fund manager. The fund manager has assessed the risk level of the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF as R4 (medium-high risk), suitable for proactive (C4) and above investors. Please refer to the sales institution for the appropriate risk matching opinion. Any information appearing in this article (including but not limited to stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors must take full responsibility for their own investment decisions. Furthermore, any views, analyses, and forecasts in this article do not constitute investment advice to readers, nor shall the author be liable for any direct or indirect losses arising from the use of the content herein. Fund investing carries risks. Past performance of a fund is not indicative of its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Invest in funds with caution.
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