芯片ETF（512760）涨超3.3%，国产先进制程替代空间引关注

Group 1 - The core viewpoint is that AI-driven demand for computing and storage continues to grow significantly, with TSMC's Q3 2025 revenue exceeding guidance, driven by strong AI demand and a mild recovery in non-AI markets [1] - Demand for storage chips, certain passive components, and high-end CCL is showing signs of supply shortages and price increases, with Flash Wafer prices rising across the board, with the highest increase exceeding 10% [1] - AI inference applications are driving the need for real-time access and high-speed processing of massive data, leading to increased demand for large-capacity storage products, presenting an opportunity for domestic storage manufacturers to experience both volume and price growth [1] Group 2 - The Chip ETF (512760) tracks the China Semiconductor Index (990001), focusing on the Chinese semiconductor industry by selecting listed companies involved in semiconductor equipment, design, and manufacturing to reflect the overall performance of related securities [1] - The index emphasizes trends in domestic substitution and technological innovation within the information technology sector, selecting representative companies in the industry [1]