On Friday, March 13, the IDC computing power leasing concept led the decline in the AI sector, with the ChiNext Artificial Intelligence index remaining weak throughout the day and recording its third consecutive daily loss. Hand Information fell over 10%, while Ofdata, 263 Networks, Digital China, and Sinnet each dropped more than 7%. However, CPO leader Eoptolink Technology Inc.,Ltd. defied the trend, rising 4%, and Zhongji Innolight gained over 1%.
Among popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which holds significant positions in optical module leaders, closed down 1.84%, marking its third straight daily decline. Trading volume shrank to 462 million yuan, with 52 million shares purchased by incoming funds.
In company news, optical module leader Eoptolink Technology Inc.,Ltd. announced two major developments: it launched the industry's first optical module equipped with Broadcom's fully functional 448G DSP, and introduced the sector's inaugural 12.8T XPO module. This next-generation pluggable optical module is specifically designed to support AI data center architectures, covering scale-up, scale-out, and metro interconnect applications.
Guosheng Securities noted that Broadcom, leveraging its strengths in networking, is becoming a key XPU partner for numerous supercomputing clients. In an era dominated by CSP capital expenditures, open, decoupled architectures represented by ASIC/XPU and Ethernet are set to thrive amid booming AI inference demand. The CSP open ecosystem will engage in long-term competition with NVIDIA, while network equipment suppliers like Eoptolink Technology Inc.,Ltd. will benefit from growing interconnect demands from both sides.
Looking ahead, NVIDIA's GTC conference, often called the "AI Spring Gala," is scheduled to begin on March 16. As a global benchmark for AI computing power, Jensen Huang's keynote speech will not only outline technological roadmaps but also serve as a catalyst for AI market trends. Reflecting on past conferences, from the start of the AI era in 2023 to successive breakouts in optical modules, liquid cooling, and CPO in 2024–2025, each technological iteration has created structural opportunities. Which sectors are likely to be ignited this time?
Guosheng Securities anticipates that this GTC event will showcase core GPU technologies under NVIDIA's Rubin and Feynman architectures, alongside disruptive upgrades in computing infrastructure such as CPO optical interconnects, 800V high-voltage power supply, and liquid cooling. As the conference approaches, the computing hardware sector has already begun warming up. In the long term, the industry's technological pathways and commercialization pace are expected to become clearer, with continued focus on computing leaders like optical modules.
To capture opportunities from AI-related events, investors can consider the ChiNext Artificial Intelligence ETF (159363) and its feeder funds (Class A: 023407, Class C: 023408), which provide exposure to both computing power and AI applications, directly benefiting from the explosive growth of AI commercialization. In terms of portfolio composition, the ChiNext Artificial Intelligence ETF allocates approximately 60% to computing power (including optical module leaders and IDC leaders) and about 40% to AI applications, making it not only a core "computing power" play but also a genuine representative of "AI applications."
Data source: Shanghai and Shenzhen stock exchanges.
ETF fee explanation: When subscribing or redeeming fund shares, subscription and redemption agents may charge a commission of up to 0.5%. Trading fees for on-market transactions are subject to securities firms' actual charges, with no sales service fee applied. Feeder fund fee explanation: The ChiNext Artificial Intelligence ETF feeder Fund Class C does not charge a subscription fee; redemption fees are 1.5% within 7 days and 0% after 7 days (inclusive); the sales service fee is 0.3%. For Class A, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1–2 million yuan, and a flat 1,000 yuan per transaction for 2 million yuan and above; redemption fees are 1.5% within 7 days and 0% after 7 days (inclusive); no sales service fee is charged.
*Institutional views referenced from: Guosheng Securities reports.
Risk disclosure: The ChiNext Artificial Intelligence ETF passively tracks the ChiNext Artificial Intelligence Index, with a base date of December 28, 2018, and a release date of 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 constituents are adjusted according to the index methodology, and past performance does not indicate future results. Constituent stocks mentioned are for illustrative purposes only and do not constitute investment advice or reflect the fund manager's holdings or trading activities. The fund manager rates this fund as R4–medium to high risk, suitable for aggressive (C4) and higher investors. Suitability assessments are subject to selling institutions' evaluations. All information provided is for reference only; investors are responsible for their own investment decisions. The content does not constitute investment advice, and no liability is assumed for direct or indirect losses resulting from its use. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the fund manager does not ensure this fund's performance. Invest with caution.
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