通信ETF（515880）回调超6%，规模破百亿居同类第一，“光模块ETF”哪里找？布局光模块占比50%通信ETF

Group 1 - The core viewpoint is that AI is expected to be the largest industrial opportunity since cloud computing, with significant growth potential in both hardware and demand sectors [1] - From the hardware perspective, GPU continues to grow rapidly, while ASIC is anticipated to become the second growth engine next year, indicating a strong performance in the North American computing power industry chain in the coming quarters [1] - On the demand side, North American cloud vendors are experiencing revenue growth and capital expenditure investment, creating a positive feedback loop for AI development, which is still in an upward trajectory [1] Group 2 - In the domestic market, AI is beginning to positively impact cloud revenue, with a large market space for domestic GPUs and accelerated development of domestic computing power [1] - Sovereign AI is expected to contribute additional growth, suggesting a diversified growth strategy [1] - The communication ETF has surpassed 10 billion yuan in scale, with "optical modules + servers + copper connections + optical fibers" accounting for over 77% of the total, indicating a strong fundamental outlook for computing hardware [2][1]