上证零距离｜AI驱动“芯”速度，兴业基金等机构解析ETF布局之道

Core Insights - The article discusses the transformative impact of AI and large models on various industries, highlighting the opportunities in edge AI within the semiconductor sector [1] - It emphasizes the growth potential for semiconductor design companies and the investment opportunities arising from the current industrial upgrade [1] Group 1: Edge AI Opportunities - Edge AI processors are experiencing a surge in shipment volumes and sales revenue, indicating a robust market growth [3] - Companies with edge AI chips, like Juchip Technology, reported significant performance improvements, with a 60.12% year-on-year increase in revenue to 449 million yuan and a 123.19% rise in net profit to 91 million yuan in the first half of the year [5] - The demand for AI-related semiconductor products, such as GPUs and storage, is expected to continue growing, driven by the adoption of AI in consumer electronics [5][6] Group 2: Market Trends and Valuation - The current semiconductor demand is primarily driven by AI-related products, contrasting with previous cycles where low-end products led the price increases [6] - The A-share market is anticipated to gradually trend upwards, supported by economic recovery and reduced geopolitical risks [6] - High valuations in the semiconductor sector are linked to the developmental stages of the industry and individual companies, with significant R&D investments being a common characteristic [7][10] Group 3: Investment Strategies - Investors are advised to use PS valuation or terminal value methods to assess companies still in high investment phases [11] - Index-based investment products, such as the Industrial and Commercial Bank of China’s ETF, are recommended for ordinary investors to efficiently access high-quality tech companies [11][12] - The STAR Market has become a significant platform for high-tech companies, with nearly 590 listed firms and a total market capitalization of approximately 10 trillion yuan, reflecting its growth potential [12][13]