紧盯“芯”机遇 科创主题基金成上涨“领头羊”

Group 1 - The core viewpoint is that the technology innovation theme has become a significant market highlight, with the average net value growth of science and technology innovation funds nearing 100% over the past year, particularly driven by the chip sector [1] - As of September 11, 2025, the average net value growth rate of all science and technology innovation funds in the market reached 92.37% over the past year, indicating strong performance [1] - Over a three-year period, the average net value growth rate of science and technology innovation funds is 22.03%, with over 90% achieving positive returns since inception [1] Group 2 - The AI sector has seen significant growth over the past year, with expectations for limited declines due to reasonable valuations of core leading stocks, projected at around 20 times earnings for 2026 [2] - Market hotspots may expand post-adjustment, with opportunities identified in domestic computing power and semiconductor sectors, in addition to light modules [2] - The AI industry is recognized as a global trend, with sustained high growth in the computing power segment, and expectations for significant changes in AI applications [3] Group 3 - Fund managers are focusing on long-term investments in computing power, with an emphasis on overseas computing chain stocks and increasing allocations in content sectors like IP, online music, and paid reading [3] - Domestic large model iterations are expected to align with international developments, and domestic capital expenditures in computing power will experience fluctuations but maintain a long-term expansion trajectory [3] - The supply ratio of domestic chips is anticipated to gradually increase, with improvements in process yield issues, highlighting long-term investment opportunities in the domestic computing power sector [3]