紧盯业绩可兑现 公募重构人工智能投资主线

Group 1 - The AI sector is experiencing a resurgence, becoming a significant driver of structural market rebounds, with the CSI Artificial Intelligence Industry Index up 18.66% year-to-date and several constituent stocks rising over 50% [1][2] - The rapid advancement in AI applications and increased public awareness are contributing to the renewed interest in AI investments, as evidenced by the World Artificial Intelligence Conference showcasing practical AI applications [2][4] - Public funds are shifting their investment strategies towards segments with clear fundamentals and growth paths, focusing on areas with actual revenue support and defined technological pathways [1][4] Group 2 - Many public funds have increased their allocations to the AI sector, particularly in areas with strong fundamental support, as indicated by the second quarter 2025 reports showing a rise in active equity fund allocations to the telecommunications sector, which includes AI computing chains [4][5] - The commercial acceleration in AI applications is expected to be significant in the second half of the year, with advancements in model technology, including the anticipated release of GPT-5 [5][6] - Investment is heavily concentrated in the upstream components of the robotics industry, with nearly 70% of funds directed towards parts like reducers and motors, as these segments are more likely to achieve stable revenue [7][8] Group 3 - The AI hardware sector is seen as the most promising for breakthroughs, with the "small brain" (motion control systems) following, while the "big brain" (large models) presents the greatest challenges [7][8] - The AI industry is undergoing a restructuring, characterized by multiple sub-sectors evolving in different development cycles, which is changing investment rhythms and allocation strategies [6][8] - Companies that have demonstrated the ability to mass-produce and successfully onboard clients are becoming increasingly attractive to investors, as the market has shifted from thematic speculation to performance realization [7][8]