20cm速递｜科创芯片ETF国泰（589100）涨超1.1%，云厂商资本开支激增折射算力需求扩张

Core Viewpoint - The article highlights the strong growth in cloud business revenues among major North American cloud providers, indicating a significant increase in capital expenditures and a proactive approach to meet the surging demand for computing power [1]. Group 1: Cloud Business Performance - North American cloud providers reported substantial revenue growth in their cloud businesses, with Microsoft’s intelligent cloud business growing by 26% in fiscal year 2025 and Azure experiencing a 39% growth rate [1]. - Amazon's cloud computing revenue surpassed $30 billion for the first time in Q2, reflecting a year-on-year increase of 17.5% [1]. - Meta's capital expenditures in Q2 increased by 100% year-on-year, with the annual capital expenditure range adjusted to $66 billion to $72 billion [1]. Group 2: Semiconductor Industry Insights - The global pure semiconductor wafer foundry industry is expected to see a 17% year-on-year revenue growth, driven by advancements in process nodes, particularly with 3nm nodes projected to increase revenue by over 600% [1]. - The electronic industry has outperformed the broader market, with a moderate recovery in demand and storage chip prices experiencing fluctuations since February 2025, with DDR4 prices reaching early 2022 highs [1]. Group 3: ETF and Index Information - The Guotai Science and Technology Chip ETF (589100) tracks the Science and Technology Chip Index (000685), which focuses on semiconductor and integrated circuit companies listed on the Science and Technology Innovation Board [1]. - The index covers the entire industry chain, including chip design, manufacturing, packaging, testing, and equipment materials, reflecting the overall performance and development trends of China's technology innovation enterprises in the chip sector [1].