人工智能步入业绩兑现阶段 基金仍看好估值提升潜力

Group 1 - Artificial Intelligence (AI) has become the core driver of public fund performance, shifting the focus of fund managers from static metrics like valuation and earnings to dynamic changes and future monetization potential [1][2] - As of September 14, 2023, nearly all top-performing funds have core positions in AI, with the best-performing fund, Yongying Technology Smart Selection, achieving nearly 190% returns this year, primarily due to its over-allocation in the AI industry chain [2] - Traditional funds are adjusting their strategies to include AI, as seen with Changsheng Urbanization Theme Fund, which has shifted from low-valuation sectors to heavy investments in AI, resulting in an 85% return this year [2] Group 2 - Major fund companies are making significant investments in AI companies despite their current unprofitability, as evidenced by the recent increase in holdings of Fourth Paradigm by Fuguo Fund, which now owns 6.37% of the company [3] - The AI sector is transitioning from a conceptual phase to a monetization phase, with increasing commercial orders indicating strong market demand and rapid revenue growth for key players [3][4] - AI companies like Jintai Holdings have attracted significant investments despite initial losses, demonstrating the market's recognition of their potential for future profitability [4] Group 3 - Fund managers are optimistic about the valuation potential of AI companies, with increasing orders and improved earnings expectations driving this sentiment [6][7] - The AI industry is expected to maintain high growth due to supportive policies and infrastructure development, with major companies in the computing power sector still showing attractive valuations for 2026 [7] - The rapid development of AI applications across various industries is anticipated to enhance the valuation potential of AI companies, driven by policy support and strong market demand [7]