沪指站稳3700点，云计算ETF（159890）早盘大涨4.3%！机构：算力主升浪行情已至

Market Overview - On August 18, the A-share market continued its upward trend, with the Shanghai Composite Index surpassing the 3700-point mark, marking the first time the total market capitalization of A-shares exceeded 100 trillion yuan [1] - The cloud computing ETF (159890) experienced a fluctuation, rising by 4.30% during the morning session [1] Key Stocks Performance - Notable performers included Shuguang Digital, which surged over 24%, and Zhongji Xuchuang, which increased by over 10% [1] - Other stocks such as Runze Technology, Yonyou Network, and Kehua Data saw gains exceeding 8%, while several others rose over 5% [1] Upcoming Events - The 2025 China Computing Power Conference is scheduled to take place from August 22 to 24 in Datong, Shanxi Province, focusing on the theme "Building the Foundation of Computing Network, Guiding the Future" [1] - The conference will feature a comprehensive structure including one opening ceremony, two main forums, multiple sub-forums, and various special activities aimed at fostering collaboration among government, industry, academia, research, and finance [1] Technological Innovations - Huawei has introduced an AI inference innovation technology called the Inference Memory Data Manager (UCM), which optimizes the efficiency of token flow across various business processes [1] - UCM can reduce the first token latency by up to 90% and increase system throughput by up to 22 times, while also achieving a tenfold expansion of the context window [1] - Huawei plans to officially open-source UCM in September this year [1] Industry Insights - Xiangcai Securities noted that AI inference is evolving from simple reasoning tasks in the generative AI era to complex long-range reasoning tasks in the Agentic AI era, presenting challenges in computing power, memory access efficiency, and context processing [2] - The introduction of UCM and 384 super nodes significantly enhances the availability and cost-effectiveness of domestic computing power, potentially increasing its application scenarios and market penetration [2] - Western Securities indicated that a major upward trend in computing power is underway, with a significant increase in global computing demand and a bottoming signal for domestic AI demand, suggesting a potential market boost from the synergy between China and the U.S. [2]