行业迎来密集催化！大数据ETF、大数据ETF华夏、云计算ETF广发、云计算ETF易方达涨超4%

Core Viewpoint - The A-share market is experiencing increased volatility, with AI-related sectors leading the gains [1] Group 1: ETF Performance - As of the report, various ETFs such as Big Data ETF, Financial Technology ETF, and Cloud Computing ETFs have risen over 4% [2] - The Cloud Computing ETF from Huaxia focuses on domestic AI software and hardware capabilities, with a combined weight of computer software, cloud services, and computer equipment reaching 83.7%, and deep learning applications exceeding 40% [2] - The Big Data ETF tracks the CSI Big Data Industry Index, heavily investing in sectors like data centers and cloud computing, with major holdings in leading companies such as Inspur, iFlytek, and China Software [2] Group 2: Industry Catalysts - The industry is witnessing a series of catalysts, including DeepSeek's recent paper on conditional memory modules for large models, which is expected to be a core modeling primitive for the next generation of sparse large models [3] - Speculation arises regarding DeepSeek's next-generation model V4, anticipated to be released around the Spring Festival, based on recent research developments [4] Group 3: Company Developments - On January 8, Zhipu AI became the first global large model company to list on the Hong Kong Stock Exchange, followed by MiniMax on January 9, marking a competitive rush in the sector [5] - Alibaba's total capital expenditure for FY2026 Q2 reached 31.501 billion yuan, a year-on-year increase of 80.10%, with Alibaba Cloud planning to further invest in AI cloud computing infrastructure [6] Group 4: Market Dynamics - The demand for computing power is expected to grow significantly due to the AI wave, with domestic AI development striving to catch up [6] - The domestic AIDC (Artificial Intelligence Data Center) is rapidly developing, with the total number of operational computing center racks reaching 10.85 million and intelligent computing capacity at 788 EFLOPS (FP16) by June 2025 [6] - Supply-side constraints are evident, with high-end chip shortages persisting due to geopolitical factors, leading to a mismatch between supply and demand [7] Group 5: Trends and Future Outlook - The AI development is driving an increase in chip power consumption, with supernode deployment becoming a significant trend, and the demand for computing power leasing is surging amid US-China tensions [8] - The leasing market for computing power is thriving, with significant orders being secured by related companies, and the resale value of high-performance servers remains robust [8]