“人工智能+”行动定调算力基建，云计算ETF（159890）午后上攻冲击6连阳！

Core Viewpoint - The AI computing power sector is experiencing significant growth, driven by government initiatives and increasing demand for domestic AI chips, particularly the H200 chip, which is expected to enhance the capabilities of major tech companies in China [3][5]. Group 1: Market Performance - On the last trading day of 2025, AI computing stocks showed strong performance, with the cloud computing ETF (159890) rising over 1% and achieving a six-day winning streak [1]. - Notable stock performances included a rise of 11.46% for Yidian Tianxia, over 8% for Hand Information, and more than 4% for companies like Zhongke Xingtai and Wanxing Technology [1]. Group 2: Policy and Industry Developments - A key government official announced the implementation of the "Artificial Intelligence +" initiative, which is expected to create extensive application scenarios for AI computing power chips, leading to rapid growth in demand and innovation within the sector [3]. - The conditional opening of the H200 chip to China is seen as a positive development, with major tech firms like Alibaba and ByteDance planning significant purchases to enhance their AI capabilities [3][4]. Group 3: Domestic Chip Strategy - Domestic companies are adopting varied strategies in response to the H200 chip availability; Baidu is focusing on its self-developed Kunlun AI chip to reduce reliance on external suppliers, while Tencent is exploring indirect methods to access more powerful chips [4]. - The release of the H200 chip is viewed as a catalyst for strengthening the long-term strategy of achieving self-sufficiency in domestic computing power [5]. Group 4: Growth Projections - According to IDC and Inspur, China's intelligent computing power is projected to reach 1,037.3 EFLOPS by 2025 and 2,781.9 EFLOPS by 2028, with a compound annual growth rate of 46.2% from 2023 to 2028 [6]. - The general computing power in China is expected to grow to 85.8 EFLOPS by 2025 and 140.1 EFLOPS by 2028, with a compound annual growth rate of 18.8% during the same period [6]. Group 5: Investment Opportunities - The domestic computing power market is seen as having significant potential for growth, with opportunities arising from capital expenditure and technological innovation [6]. - The cloud computing ETF (159890) tracks a diverse range of companies involved in AI infrastructure and applications, indicating a comprehensive approach to the AI computing power era [6].