通信ETF（515880）溢价涨停，光模块概念景气度延续

Group 1: Market Performance - The Communication ETF (515880) experienced a premium limit increase on September 11, with an arbitrage rate reaching 0.60% [1] - The ChiNext AI ETF from Guotai (159388) rose by 8.71%, with AI hardware leading the market [1] - Oracle's stock surged over 36% on September 10, marking its largest intraday gain since 1992, with a market cap increase of over $244.6 billion [1] Group 2: Oracle's Business Developments - Oracle signed a significant contract with OpenAI worth $300 billion for computing power, starting in 2027, which is one of the largest cloud contracts in history [1] - In its Q1 FY2026 report, Oracle's cloud computing revenue grew by 28% year-over-year, reaching $7.186 billion, accounting for 48% of total revenue [1] - Oracle's remaining performance obligations (RPO) surged to $455 billion, increasing over four times year-over-year and more than three times quarter-over-quarter [1] Group 3: AI and Cloud Computing Trends - The demand for AI servers is expected to continue, with major cloud service providers (CSPs) like Google, Meta, Amazon, and Microsoft increasing capital expenditures to $90 billion in Q2 2025, a 70% year-over-year increase [2] - Domestic server leader companies are expected to benefit significantly from the growth in cloud computing, with AI server revenue increasing over 60% year-over-year [2] Group 4: Optical Module Developments - NVIDIA launched the Rubin CPX GPU designed for large-scale context processing, enhancing efficiency for software encoding and generative video [3] - The 26th China International Optoelectronic Expo showcased over 3,800 global optoelectronic companies, focusing on key areas such as optical communication and AI applications [3] Group 5: Investment Opportunities - Investors are encouraged to consider the A-share AI hardware sector, particularly the Communication ETF (515880), which has over 70% of its components in "optical modules, servers, copper connections, and optical fibers" [4] - The top three weighted stocks in the ChiNext AI ETF from Guotai (159388) include Xinyi Technology (20.28%), Zhongji Xuchuang (18.79%), and Tianfu Communication (6.50%), with a combined weight of over 44% in optical module leaders [4]