20cm速递｜科创人工智能ETF国泰（589110）涨超6%，AI硬件需求强劲

Group 1 - The core viewpoint of the news highlights the strong demand for AI hardware, which has led to a significant increase in the performance of the Cathay Innovation AI ETF (589110), rising over 6% on January 12 [1] - The electronic and semiconductor industries are currently experiencing a global technology cycle, with AI hardware demand being driven by factors such as the expansion of AI computing power, data center growth, and the electronic upgrade of smart vehicles [1] - The semiconductor industry has been in an upward cycle for over 9 quarters since Q1 2023, driven by GPUs and generative AI, with this cycle's duration and intensity surpassing previous cycles driven by consumer electronics [1] Group 2 - Despite potential deceleration in growth due to high base effects, the industry has not yet shown signs of a turning point, and the marginal change in profit growth (ΔG) remains robust [1] - AI hardware is expected to maintain its strength in a valuation bull market, supported by a favorable environment of liquidity, policy support, and high industry prosperity [1] - The commercialization of AI applications is accelerating due to a fourfold resonance of policy, demand, ecosystem, and capital, transitioning from computing infrastructure to practical scenarios, demonstrating resilience independent of overseas markets [1] Group 3 - The Cathay Innovation AI ETF (589110) tracks the Innovation AI Index (950180), which has a daily price fluctuation limit of 20% and includes 30 listed companies from the Sci-Tech Innovation Board that cover AI foundational resources, core technology R&D, and industry application [2]