Meta拟明年起通过谷歌云租用TPU算力，科创板人工智能ETF（588930）高开高走，机构：当前AI发展并无明显泡沫

Group 1 - The three major indices opened mixed but strengthened during the day, with the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index (950180.SH) rising by 0.39% [1] - Among the index constituents, Cambricon Technologies rose nearly 4%, and Lattice Semiconductor increased over 2%, while several others, including Espressif Systems and Orbbec, saw gains exceeding 1% [1] - The Sci-Tech Innovation Board Artificial Intelligence ETF (588930) opened slightly higher and rose over 1% during the day, with a latest circulation of 1.263 billion shares and a circulation scale of 1.88 billion yuan as of November 26 [1] Group 2 - Guojin Securities reported that the current AI development does not show significant bubbles, and the high capital expenditures of the four major North American CSPs (Google, Meta, Microsoft, Amazon) are sustainable with room for further increases [2] - The supply chain finance of companies like OpenAI, NVIDIA, and AMD remains relatively early-stage, with lower risks compared to the debt-based supply chain finance during the internet bubble [2] - Citic Securities noted Alibaba's Q2 FY2026 earnings report, highlighting a 34% year-on-year increase in cloud revenue and triple-digit growth in AI-related product revenue for nine consecutive quarters, indicating strong investment in AI infrastructure [2]