Mei Ri Jing Ji Xin Wen·2025-11-13 02:06Core Viewpoint - The global AI industry is experiencing a bearish impact due to recent negative comments, while the domestic AI sector shows resilience, particularly in application stocks [1] Group 1: Market Performance - The AI ETF (515070) saw a slight decline of 0.8%, but stocks like Beijing Junzheng rose over 4%, with other companies such as Stone Technology, Deepin Technology, Qihoo 360, and Dahua Technology performing well [1] - In the third quarter, public funds and northbound capital reached a historical high in their holdings of the communication sector, with AI computing power being a significant contributor to this increase [1] Group 2: Industry Developments - On November 10, Intel's AI infrastructure head Sachin Katti moved to OpenAI, indicating an intensifying competition for AI talent globally [1] - Meituan launched its first AI programming assistant, CatPaw, which focuses on agent collaboration and large-scale code generation, marking a significant step in the domestic "AI + software engineering" sector [1] Group 3: Investment Recommendations - With the decline in inference costs driven by open-source models like DeepSeek, there is a simultaneous release in demand for domestic 1.6T optical modules, liquid-cooled servers, and AI power supplies [1] - It is recommended to pay attention to leading companies in the infrastructure segments such as IDC, servers, and domestic computing chips [1] Group 4: ETF Composition - The AI ETF (515070) tracks the CS AI theme index (930713), selecting component stocks that provide technology, basic resources, and application end stocks, focusing on the midstream and upstream of the AI industry chain [2] - The top ten weighted stocks include leading domestic technology companies such as Zhongji Xuchuang, Xinyi Sheng, Cambrian, Zhongke Shuguang, iFlytek, OmniVision, Hikvision, Lanke Technology, Kingsoft, and Unisplendour [2]