芯片ETF（512760）回调超3%，AI拉动下存储芯片迎来"周期与成长共振"

Group 1 - The electronic industry is experiencing an inflation trend in the upstream sector, with AI driving a "resonance of cycle and growth" in storage chips [1] - AI demand continues to be strong, exceeding previous expectations, while the non-AI market is showing a mild recovery [1] - TSMC's recent conference indicated that AI demand is surpassing expectations, leading to supply shortages in storage chips, certain passive components, and high-end CCL [1] Group 2 - The rapid expansion of AI server demand is prompting major global cloud service providers to increase procurement of NVIDIA GPU solutions, with an estimated capital expenditure of over $420 billion by the top eight CSPs by 2025, representing a 61% year-on-year increase [1] - There is a discrepancy in expectations regarding the domestic capabilities and sustainability of computing power and storage, with storage prices rising across the board and the mobile and server markets opening up opportunities for domestic manufacturers [1] - The chip ETF (512760) tracks the China Semiconductor Index (990001), which selects listed companies in semiconductor materials, equipment design, manufacturing, packaging, and testing from the Chinese A-share market to reflect the overall performance of related listed companies [1]