Xin Lang Cai Jing·2026-01-11 11:23Core Insights - The 2026 industry trend update focuses on AI computing hardware, edge AI, physical AI (autonomous driving, robotics, brain-computer interfaces), AI large models and applications, and commercial aerospace [2][6][8] - The CES 2026 event in Las Vegas highlighted a shift from traditional consumer hardware to AI infrastructure and industrial intelligence, covering various sectors including artificial intelligence, robotics, automotive technology, digital health, and quantum technology [2][7][18] Market Performance - The A-share market has continued its upward trend into 2026, driven by significant net inflows of financing, with a total of 857.8 billion yuan in the first four trading days of January [3][4][8] - The average guarantee ratio of margin trading has increased due to rising stock prices, indicating strong market confidence [3][8] Industry Trends - AI computing hardware advancements include NVIDIA's launch of the next-generation Rubin computing platform, which integrates various components for enhanced performance and cost efficiency [9][21][24] - Edge AI is gaining traction with products like ByteDance's "Doubao" AI glasses entering the market, indicating a shift towards productization in consumer electronics [10][11] - Physical AI developments include NVIDIA's Alpamayo autonomous driving ecosystem, which aims to enhance vehicle decision-making capabilities through multi-step reasoning [12][34][36] Funding and Investment - Significant net inflows in financing have been observed, while ETF redemptions have occurred, indicating a mixed sentiment in the investment landscape [4][8] - Meta's acquisition of AI startup Manus for over $2 billion reflects a strategic move to enhance its AI capabilities and address application gaps [4][14] Valuation Metrics - The overall valuation level of A-shares has increased, with the Wind All A Index PE (TTM) at 18.15, indicating a relatively high valuation compared to historical levels [4][8] Sector Recommendations - The report recommends focusing on cyclical and technology sectors, particularly in the context of the upcoming spring market dynamics and annual report previews [3][8] - Key sectors to watch include power equipment, machinery, non-bank financials, electronics, and basic chemicals, with an emphasis on AI hardware, robotics, and AI applications [8][12]