On the morning of November 25, the AI sector staged a strong comeback, with computing power hardware and AI applications leading the rally. The ChiNext AI ETF (159363) surged over 3%, outperforming peers. As of writing, Changxin Bocom and Yidian Tianxia led gains with over 7% increases, while Ruijie Networks, Xunchuang Data, Guangku Technology, Liante Technology, Newsea, and Zhongji Innolight rose more than 3%.
Among popular ETFs, the ChiNext AI ETF (159363), which strategically covers both computing power and AI applications, climbed over 3%, leading AI-themed ETFs across the market. Its intraday trading volume exceeded 150 million yuan, showing a notable increase. The ETF also reclaimed its 5-day and 10-day moving averages.
On the AI application front, Alibaba's AI assistant "Qianwen App" surpassed 10 million downloads within a week of public testing, outpacing ChatGPT, Sora, and DeepSeek to become the fastest-growing AI application. Additionally, Google's recent launch of its multimodal AI model, Gemini 3.0 Pro Image, with stronger-than-expected performance, further boosted market interest in AI applications.
BOC Securities noted that since 2025, the AI industry chain has seen rotations from overseas computing power to domestic computing power, then to storage and power sectors. AI applications, as downstream segments, have lagged in gains, presenting attractive valuation opportunities. With industry inflection points emerging, AI applications may catch up in performance.
Regarding computing power, Guosheng Securities highlighted that recent strong performances by Google and Nvidia underscore the core growth cycle of AI: model upgrades drive computing power demand, while computing power expansion enables further model innovation. This virtuous cycle of technological advancement, infrastructure investment, and industrial applications sustains high growth in the computing power sector. The firm remains bullish on computing power, particularly optical module leaders.
To capitalize on opportunities in computing power (e.g., optical modules) and AI applications, investors may consider the ChiNext AI ETF (159363) and its feeder funds (Class A: 023407; Class C: 023408). The underlying index heavily weights optical module leaders ("Yi-Zhong-Tian" stocks), with over 54% exposure to the subsector. The ETF allocates over 70% to computing power and more than 20% to AI applications, efficiently capturing AI thematic trends. (Data as of October 31, 2025)
Risk Disclosure: The ChiNext AI ETF tracks the ChiNext AI Index (base date: December 28, 2018; launch date: July 11, 2024). The index's annual returns from 2020 to 2024 were 20.1%, 17.57%, -34.52%, 47.83%, and 38.44%, respectively. Past performance does not indicate future results. Constituent stocks are shown for illustrative purposes only and do not represent investment recommendations or fund holdings. The fund is rated R4 (higher risk) and suits aggressive (C4) or above investors. Investment decisions should be based on individual risk assessments.
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